It can be heartbreaking when you're investing in risky stuff. While some are celebrating wins like Aveng, I watched Steinhoff capitulate this week and EOH deal with yet another mess. I also bought the Alibaba dip last week just before the Chinese regulators tightened the noose around tech companies again.

If I didn't have bad luck in the past week, I wouldn't have any luck at all.

When the small caps put on a show, they really can be rewarding. No pain, no gain. Ellies is definitely on the right side of that equation in the past day, having pulled off a B-BBEE deal that is so good for current shareholders that I'm giving the company the lead story today.

Usually, B-BBEE deals are really expensive for current shareholders. The B-BBEE investor typically receives shares at a discount, needs the company's help to fund them and hangs around for only a few years before the lock-in expires.

That's not the case at Ellies. Not even close. Make sure you read that story to see why the Ellies share price jumped 20% yesterday on the news.

It was a close race for the lead story. I was impressed with Attacq's dealmaking as well, with the fund selling half of its exposure to major logistics properties at an attractive price. The logistics portfolios are all the rage at the moment, which means they are ripe for sale by funds that need to reduce debt.

As already mentioned, EOH has been in the news again. It's really disappointing to learn about important developments at the company through the media rather than over SENS. EOH desperately needs to win the trust of investors and this isn't the way to do it.

For the non-banting enthusiasts among you, Rhodes Food Group has taken a bite at Pioneer Foods' portfolio, acquiring the frozen pies and pastries business from Pioneer. You may recall that Pioneer was taken private by PepsiCo in March last year, just before the world went mad.

If you fancy an international flavour this morning, check out this excellent article on WeWork that was written by The Creative Accountant, one of my contributors to my website. With a global move towards flexible working and under new management, WeWork may become a success story after suffering a really tough period.

I'm pleased to see that the letters have started to come in. Remember, we are giving away a R250 Easy Equities voucher every week to the author of the best letter. Send your thoughts to [email protected] with the subject line My Ince Insights.

May your Wednesday be more enjoyable than a Steinhoff share price chart. A lot more enjoyable.

The Finance Ghost