SPAR must do better

Good morning Voornaam,

Quick links:

SPAR has a lot of work to do, having suffered through a few own-goals like the SAP implementation in KZN. There's some resilience in the latest sales numbers though, which caught my attention. Look out for important numbers from Ascendis, Barloworld, EOH and Master Drilling, as well as deal news from Nampak and a pre-close update from Vukile. Salungano's troubles are also on display. All this and more in Ghost Bites, brought to you by Fedgroup.

​​The Vanderbilt family once had the dubious honour of being the wealthiest family of them all. Fast forward a few generations and all the money is gone. This week, Dominique Olivier uses the Vanderbilts to talk about lessons in wealth management from a cursed family. I think you will really enjoy this excellent article>>>

Thanks to Mazars, there's an episode of Ghost Wrap that is fresh out the oven for you this morning. Get the latest on Transaction Capital, Sun International, Thungela and OUTsurance in this fast-paced podcast.

Can you take matters into your own hands with your investing journey? Of course you can! In a brand new article, Duma Mxenge of Satrix gives some excellent tips around how to do exactly that. Read it here>>>

Fedgroup is going front-foot on tax free savings account information this year and I love that approach, as a TFSA should be part of your plan every year. It shouldn't be a last-minute panic in February! Find out how Fedgroup thinks about TFSA strategies in this article>>>

​​Investec has launched the Investec Nikkei 225 Autocall, a structured product that references the Japanese market. You can get all the details in this Ghost Stories podcast with Brian McMillan. For those who prefer to read, there's also a brand new article on this product available here.

A brand new episode of the Magic Markets podcast gives you the latest on Madrigal and Myomo - two growth companies that are probably nowhere near your radar. Learn about them from our guest, Justine Brophy of AnBro.

Events:

Attention: founders, venture capitalists and investors in startups. How on earth do you value a startup? Well, it's not easy, I'll tell you that much. When the numbers are on a whiteboard rather than in a balance sheet, a leap of faith (or two) is required. At bizval, in which I am a co-founder and responsible for our product development, we've put a lot of work into valuations of startups. Later today at midday on Wednesday 27th March, we will be hosting a webinar to talk about our approach. Join us, ask questions and engage! You can register for free here>>>

READ: Dive into your DIY investing adventure
(by Duma Mxenge of Satrix)

LISTEN AND READ: The Investec Nikkei 225 Autocall
with Brian McMillan of Investec

READ: Lessons in wealth management from a cursed family
(by Dominique Olivier)

Local company news:

Ghost Bites is brought to you by Fedgroup.
SPAR has work to do. It's as simple as that. If they don't take advantage of the troubles at Pick n Pay, then investors will never forgive them. The SAP issues need to be rectified as soon as possible and the business in Poland needs to be sold. SPAR Switzerland also appears to have some structural weaknesses that will be difficult to address. As for the South Africa and Ireland / South West England businesses, they have plenty of potential to succeed. Execution is what will make the difference.
Nampak has agreed to sell Nampak Liquid Cartons, Nampak Malawi and Nampak Zambia as well, all to the same consortium. This helps chip away at the total disposal target to fix the balance sheet. There's still a long way to go, though.
Over at Barloworld, we have depressing figures for the Equipment Southern Africa business as well as Ingrain, the local consumer industries play. South Africa really is struggling at the moment. Equipment Eurasia, despite including what is left of the business in Russia, is where the action has been.
Also look out for an interesting trading statement from Ascendis, poor results from EOH, double-digit dividend growth at Master Drilling and a pre-close update at Vukile. There's also a most unfortunate update from Salungano, where there's a huge headline loss per share.
Everything you need is in Ghost Bites at this link>>>
To help you form your own view on the value of WeBuyCars, you can watch the recording of their recent appearance on the Unlock the Stock platform.
Check out the most recent episode of the Ghost Wrap podcast, made possible by Mazars. It takes just a few minutes to get the latest on Transaction Capital, Sun International, Thungela and OUTsurance. Get it here>>>

LISTEN: Magic Markets podcast

Currencies, commodities and rates: TreasuryONE Market Update

In their latest weekly video, the team at TreasuryONE takes a look at the upcoming MPC meeting and what the odds are for an interest rate cut. The MPC meeting is later today, with the expectation being that rates will be unchanged. Much hangs on the tone of the SARB Governor in his speech.
The Yen is at a 30-year weak point against the dollar and the market seems to want to push it even weaker.
Brent Crude seems comfortable at the $85 level, despite some calls in the market for it to reach $95 per barrel on the back of aforementioned geopolitical risks.
Key indicators: USD/ZAR R18.99; US 10-year 4.24%; Gold $2,178; Platinum ZAR R17,193; Brent Crude $85.46

LISTEN: The ETF product design process
with Siyabulela Nomoyi of Satrix

International company news:
Here's one for those who believe that competition is a myth and companies can have it all their own way for years on end. With all eyes on the fortune that Novo Nordisk has been making, there's definitely strong competition coming in the weight-loss drug market. Eli Lilly has been the other big name at the table, but there are others.
Viking Therapeutics shares closed 15% higher on Tuesday after the company announced that its experimental weight loss pill has shown positive results. Is this a risky sector to invest in? Sure. Can the returns be incredible if you back the right horse? Absolutely.
Viking Therapeutics is up 342% this year. Read that again slowly.
We've covered Nove Nordisk before on Magic Markets Premium, along with airline and even cruise businesses for good measure. You can get all of the research for just R99/month. It pays to know what's going on out there - literally.