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Good Morning Voornaam,

Ghost Bites:

Grindrod Shipping has announced the important details of the Taylor Maritime offer for the company
Steinhoff's underlying operations are performing well (especially Pepco) - it's just a pity that the group balance sheet is still so problematic
Spear REIT has acquired The Island, a great industrial property in Paarden Eiland
Zeder is still trading at a 30% discount to NAV as the value unlock strategy continues

As you know by now, these details (and more) are all available in Ghost Bites. There's an especially detailed section on Steinhoff and the underlying performance at Pepco, a business that is bucking the trend in Europe. I was impressed by the sales and EBITDA numbers. Read Ghost Bites here>>>

Porsche, US automakers, smartphones and even banks

If you enjoy global stocks and learning about multiple industries in a concise format, then Ghost Global is for you. This week, Ghost Grads Kayla Soni and Sinawo Bikitsha bring you the latest news:

US banks are about to report earnings and you can expect higher provisions in the face of a recessionary climate
General Motors has dethroned Toyota in US and reclaimed top spot
Porsche is in pole position among German car manufacturers
Samsung has slumped on lower smartphone demand

To improve your knowledge of these companies, read Ghost Global this morning>>>

Building tech companies

Jonathan Kropf is the founder and CEO of Velocity Group. He valued his company with bizval in September and won a podcast appearance with yours truly. It was a great show in the end, with loads of insights from his journey of building and selling tech companies in South Africa. Jonathan is now in the UK and looking to expand, so the bizval valuation tool is doing a great job of helping him with that process as well.

For founders looking for inspiration and perspective, I highly recommend this podcast. Listen to it here>>>

PPI gives us a glimpse

The Producer Price Index (PPI) gives us a glimpse of what could come in the CPI inflation numbers due later today. US producer prices rose 0.4% month-on-month, higher than the expected 0.2%. This gives no respite to the inflation narrative. The US dollar was given renewed momentum by this release, with the rand moving within touchi ng distance of the R18.30 level.

If headline CPI prints above 8.1%, we could be in for a rough Thursday afternoon.

The US FOMC minutes were released last night and although the market mostly knows what would be in them, they are still analysed with a fine-tooth comb. The market looks for any changes in stance from the Fed. Any indication of a more hawkish approach could cause emerging market currencies to lose ground.

As always, the daily macroeconomic update is provided by TreasuryONE.

Have a great day!

PS: if you haven't listened to Ep96 of Magic Markets yet (Justine Brophy of AnBro talking about growth stocks), then catch it here before you fall behind as the next episode is released tomorrow.

Ghost Bites (Grindrod Shipping | Steinhoff | Spear | Zeder)

Grindrod Shipping announces the Taylor details. Steinhoff gives an update on PEPCO and others. Spear has acquired a great property. Zeder is trading at a 30% discount to NAV.

Ghost Global (US Banks | GM | Porsche | Samsung)

US banks will report numbers against a backdrop of recessionary risks. General Motors has dethroned Toyota in the US. Porsche is the fifth most valuable company in Germany. Samsung has slumped on falling smartphone demand.

Unlock the Stock: Growthpoint

As the stalwart of the property sector, Growthpoint is always of interest to investors. With so much opportunity in this space after the pandemic, this was an excellent edition of Unlock the Stock.

Magic Markets Ep96: Looking to the Future

Justine Brophy from AnBro Capital Investments is feeling good about the future. It takes a cool head to be a successful investor and the team from AnBro certainly knows how to look through a crisis. Learn from them in this podcast.

Listen Now

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