Good morning Voornaam,
You made it. It's Friday. If you were wise like me, you even resisted temptation to emotionally invest in the Proteas. I'm still dealing with the childhood trauma of bats being dropped, so I've learnt the hard way.
Speaking of learning, I attended the OCFO Founders Conference last night with the bizval team. This, by the way, is why Ghost Mail is late this morning. I am but one Ghost.
I'm beyond proud of what we are building in that business, executing on a dream to take investment banking level skills to SMEs. Leaving that aside, there were certain elements of the venture capital keynote speeches that both enthralled and highly irritated me. I'm hoping to pen something soon on the pros and cons of venture capital. If you have any insights to add to that piece, you know where to find me!
As you plan your diary next week, make space on Wednesday for a bizval webinar on the best time to sell a business. If you are a business owner, this will be a hugely useful discussion. Attendance is free but you must register at this link>>>
A good way to end your week would be by understanding the trends that are shaping ETF growth into the future. Kingsley Williams of Satrix has highlighted these factors in a brand new article that looks ahead to the ETF landscape by 2030. Read it here>>>
There's also a brand new episode of Magic Markets, brought to you by process automation specialists B2IT. Mohammed Nalla and I covered property construction stocks in this show, with thoughts on US group D.R. Horton and local players Balwin and Calgro M3. Enjoy it here>>>
Enjoy everything our gorgeous country has to offer this weekend. |
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BRAND NEW: Magic Markets podcast |
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In Episode 151 of Magic Markets, we looked at home building companies and how they have performed in this environment of higher interest rates.
The results may surprise you!
Moe looked at D.R. Horton and yours truly focused on Balwin, with some passing commentary on Calgro M3 as well.
This show is brought to you by international date and automation specialists B2IT. |
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BRAND NEW: Global megatrends shaping the ETFs of the future |
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Kingsley Williams of Satrix looks ahead to the potential landscape for ETFs in 2030 by focusing on the key trends that are driving growth in this asset class. There's a lot to feel excited about! |
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LATEST:
Liquid gold: why gangsters choose olives over cocaine
(by Dominique Olivier) |
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| | Miniature cameras hidden in tie pins. Bribery money counted under tables. Swiss bank accounts, Turkish tankers and Caribbean shell companies.
No, we’re not talking about the cocaine trade. We’re talking about the Italian agromafia. |
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LATEST: Ghost Wrap podcast
(Bell Equipment | MTN | AVI | Truworths | De Beers) |
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| | The latest Ghost Wrap podcast needs just a few minutes of your time to get you up to date on five companies across a variety of sectors. Ghost Wrap is brought to you by Mazars. |
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Bell Equipment and Calgro M3 returned to the Unlock the Stock platform in a joint session to share insights into the recent numbers and the strategic outlook.
You can watch the recording here, thanks to our partner A2X. |
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LATEST: Ghost Stories podcast with Nico Katzke of Satrix |
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| | Nico Katzke is no stranger to Ghost Stories listeners. There's always so much to learn from him about markets and investing. This time, you also get to enjoy him putting me through my paces in the second half of the show. |
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DAILY: TreasuryONE Market Update Jobless claims data in the US has become a key focus area for currency traders, with the dollar typically weakening after these numbers are released. The rand moved to its strongest level since September, along with the Mexican and Brazilian currencies.
This is because the number of new jobless claimants rose to 231k for the past week, 11k above market estimates. This reinforced views that the hiking cycle is over. In the absence of major inflation shocks, it's likely that the labour market's trajectory will determine the Fed's actions next year.
The jobless claims number was good news for gold, which moved to $1,981. PGMs also ended higher on the day. Oil was the big loser yesterday, falling 4.4% to close at $77.42! Combined with the rand trading below R18.40, this starts to look better for local fuel costs and inflationary pressures.
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| | Get the latest on AH-Vest, Burstone, Emira, Investec, Life Healthcare, NEPI Rockcastle, Safari Investments, Southern Sun and Trellidor to keep you up to date. It's all available with a single click in Ghost Bites. |
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Trellidor even keeps the bankers out Trellidor is a tiny company on the JSE and really doesn't have much liquidity, so you might be wondering why I'm giving it attention on a day that included important announcements from large caps.
The reason is this: there's something to learn from Trellidor about banking covenants and the approach that lenders take. A covenant breach doesn't lead to an immediate rug-pull, as bankers aren't so good at running the factory floor themselves. Details are in Ghost Bites.
We also saw solid numbers out of Investec after a very busy period of corporate activity. The returns are solid, particularly when you remember that Investec reports in GBP and so these are hard currency numbers.
Speaking of solid returns, property sector favourite NEPI Rockcastle also reported numbers. Eastern Europe (with the obvious exception of Ukraine) is doing well at the moment.
Life Healthcare is also part of Ghost Bites this morning, with results that show a contraction in operating margins.
Also look out for updates from AH-Vest, Burstone (the old Investec Property Fund), Emira, Safari Investments and Southern Sun.
All of this is available in Ghost Bites at this link>>> |
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You should expect us in your inbox Monday – Friday. If you don’t receive an email, please check your spam, or junk folder and “move us” into your primary inbox to ensure you get it each morning.
Disclaimer
Our content is intended to be used and must be used for informational purposes only. You must do your own analysis before executing any investments or strategic decisions, based on your own circumstances. We do not provide personalised recommendations or views as to whether an investment approach or corporate strategy is suited to the needs of a specific individual or entity. You should take independent financial advice from a suitably qualified individual who gives due regard to your personal circumstances.
Whilst every care is taken, we accept no responsibility or liability for any errors or omissions in any of our content.
The views, thoughts and opinions expressed in our content belong solely to the author or quoted individuals and/or entities, and not necessarily to the author's employer, organisation, committee or other group or individual, or any of our affiliates or brand partners. |
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