| Good morning Voornaam, Quick links: The latest on Absa, EPE Capital Partners, Lighthouse, Metair, Remgro and RFG Holdings is available in Ghost Bites, brought to you by Fedgroup. Are boycotts of badly behaved businesses effective, or just a waste of time? Dominique Olivier shares her views on whether consumer activism actually works, with Nestle as a prime example. Read this great piece here>>> 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. There's a brand new episode of the Ghost Wrap podcast thanks to Mazars, which means you need just a few minutes to get the latest on Mustek, Curro, Sea Harvest and Quilter - available here. Nico Katzke of Satrix weighs in on the AI debate and asks some pertinent questions about whether this is a fad or the future - and how best to invest in it. Read the piece here>>> Ever wondered how ETFs are designed? Well, wonder no more! In this podcast with Siyabulela Nomoyi of Satrix, we covered this topic and several others related to ETFs. Also from Satrix, get a very helpful overview of recent index performance metrics and trends in the company's March newsletter, republished on the Ghost Mail website here. A brand new episode of the Magic Markets podcast gives you the latest on Domino's Pizza and Monster Beverage. Events: With much excitement around this unbundling and the opportunities it could bring, get into the driver's seat for WeBuyCars on Unlock the Stock. Don't miss this opportunity to engage with the management team! You simply need to register for free for the session on Thursday 14th March at 12pm at this link>>> |
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| LISTEN: The Investec Nikkei 225 Autocall
with Brian McMillan of Investec |
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| Brian McMillan of Structured Products at Investec talked to me about the Investec Nikkei 225 Autocall.
It offers exposure to the Nikkei 225 index over a period of up to five years with an enhanced return of up to 17% per annum in ZAR or 11.5% per annum in USD. Importantly, there is 100% capital protection provided the index does not drop by more than 30%.
Listen to this podcast to find out more. |
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| READ: Bad business and the bother with boycotts
(by Dominique Olivier) |
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| Using Nestle as an excellent example, Dominique Olivier delves into whether consumer activism actually works.
Are boycotts effective, or do they just make people feel better? Find out here. |
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Local company news:
Ghost Bites is brought to you by Fedgroup.
Metair is quite possibly the unluckiest company on the JSE. Perhaps the winds of change are well and truly blowing for the business, as the latest update had a far more positive slant than we've recently seen from the company. The result was a stunning rally in the share price, closing 23.5% higher for the day. The frightening thing is that it is still down 31% this year! Markets are many things, but they ain't boring.
On the investment holding company side, EPE Capital Partners and Remgro both released major updates and neither of them could be considered good news stories.
In banking, Absa is lagging its peers and the retail banking business was to blame in 2023, with a drop in headline earnings that more than offset the positive trend in the corporate and investment banking operations.
At RFG Holdings, volumes are under pressure in most categories. The one exception is pies, which is surely final proof that we love to eat our feelings. Thanks to pricing increases, the revenue story is in the green.
Finally, Lighthouse Properties released results for 2023 and pointed towards a focus on acquisitions in 2024, with the company believing that the time is right to be buying up retail malls.
Get more details on these stories plus all the other news on the JSE yesterday in Ghost Bites>>>
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 Mustek, Curro, Sea Harvest and Quilter. Get it here>>>
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| READ: Satrix March 2024 newsletter with market trends |
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| | | Satrix's latest newsletter is a great overview of index performance up to the end of February, along with the trends responsible for the numbers.
There are also some fun stats about returns in leap years! Read it here. |
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| READ: Artificial Intelligence - fad or future, and how best to invest
(by Nico Katzke of Satrix) |
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| | | Nico Katzke of Satrix asks the real questions when it comes to AI, including the ones that few seem to be asking about its sustainability.
Get his views here. |
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| LISTEN: Magic Markets podcast |
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| In Episode 165 of Magic Markets, we looked at unhealthy choices for your body that are perhaps healthy additions to your portfolio.
I covered Domino's Pizza (including a look at South African peers) and Mohammed Nalla dealt with Monster Beverage - which also happens to be able to trace its roots to South Africa!
Magic Markets is a great way to expand your reach to global opportunities. Listen to the show here.
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| Currencies, commodities and rates: TreasuryONE Market Update Yesterday was a fairly stable day on the currency front, with the dollar grinding out some gains after being the victim of selling over the past few days. The rand continued its path of redemption, dipping into the R18.60s.
Gold has fallen from all-time highs.
Inflation data in the US is the focus point of the market today, with core inflation expected to ease from 3.9% in January to 3.7% in February.
Key indicators: USD/ZAR R18.69; US 10-year 4.10%; Gold $2,178; Platinum ZAR R17,431; Brent Crude $82.43 |
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| LISTEN: The ETF product design process
with Siyabulela Nomoyi of Satrix |
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| | | Delving into the ETF product design process and with a discussion on the latest ETF product launches at Satrix, Siyabulela Nomoyi joined me for this insightful conversation.
Don't miss it! |
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International company news:
I find the world of family offices fascinating. These are high-net-worth investors who have set up formal structures for investing their wealth, often with heavy hitting ex-private equity, hedge fund or asset management executives leading the operations. A report from Preqin suggests that there are more than 4,500 such family offices worldwide, with North America having the largest share at 1,682. That makes sense, as family offices are inevitably the end result of a large family-owned business achieving an exit. Where else would that be prevalent but in the home of capitalism?
To make you feel poor today, there are more than 2,600 billionaires in the world. In the CNBC article where I found this information, there's also a note that there are over 90,000 people worth $100 million or more, which is seen as the threshold to make a family office worthwhile. Not only are family offices wonderful clients in the asset management industry, but in my experience they are also fantastic investors for founders.
Moving on, Costco released numbers into the market late last week that showed a miss of Wall Street's expectations. Comparable sales were up 5.6% year-on-year. A feature of the US retail industry is that the likes of Costco sell fuel (or "gas") of course, which really impacts their numbers. They all report sales excluding changes in gas prices and foreign currency, with that metric up by 5.8%.The e-commerce side of the business grew by 18.4%, so that trend continues!
If you want to learn about companies like Costco, then Magic Markets Premium is the perfect way to do it. For just R99/month, you get access to the entire research library that includes a new research report every week on a global stock. There's no minimum monthly commitment, either. Subscribe here and start learning>>> READ: Stability doesn't always have to come at a cost
with Fedgroup |
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| | | Fedgroup believes that a combination of fixed-term investments can do more than just withstand a battering. In fact, they cann offer solid returns as well.
Learn more here. |
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