TCP finds the crystal ball

Good Morning Voornaam,

Don't miss out on today's webinars! You can join bizval at 12pm for a deep dive into the due diligence process when selling a private company, or Grovest at 4pm to learn about their Twelve B Energy Fund. I'll be co-hosting the bizval webinar.

Also be sure to add Ghost Wrap to your playlist today. Brought to you by Mazars, the latest episode covers Transaction Capital, Sun International, AngloGold and Gold Fields, Hyprop, Sabvest Capital, STADIO, Caxton and Balwin. Find it here>>>

Did they hire new accountants?

The latest SENS from Transaction Capital makes for interesting reading. You see, just a few short months ago, the management team apparently didn't have price sensitive information and didn't see a complete implosion of the business coming. But now, they seem to have collectively had an epiphany during their morning showers that allows them to give earnings guidance out to September 2023.

That's an incredible turnaround in their forecasting ability. Maybe there will be an incredible turnaround in the share price as well?

It's quite a jungle out there at the moment on the JSE. One example is York Timber (literally a jungle), a company that has gener ally had more bark than bite. The biological asset always tells a better story than the earnings from chopping the trees down, so perhaps the best strategy is to just become a large botanical garden and charge entrance fees for picnics? With HEPS down by between 27% and 32%, it's not the worst idea.

In a very colourful SENS announcement, RCL Foods issued an angry update on Albie Cilliers' latest punt to generate what I can only describe as near-arbitrage profits from appraisal rights. This is a complex area of company law that he has become a master of, irritating several listed companies along the way. Is he a fox or a villain? You decide.

For these updates and news from Afrimat, Cashbuild, Lighthouse Properties, Merafe and South Ocean, read Ghost Mail this morning>>>

Add a little Magic to your day

In our latest free Magic Markets podcast, Barry Dumas of Trive South Africa joined us to talk about Aston Martin (a listed company in its own right) and whether Fernando Alonso's heroics can translate into sustainably improved financial performance. Start your engines here>>>

We covered CrowdStrike in Magic Markets Premium last week and we will be releasing a report on Spotify this week. To see an example of our premium res earch, we've made our Crocs research from December available in full here. If you like what you see, subscribe to our research library for R99/month>>>

Gold settles down

After gold finally rewarded those with incredible patience (and those who simply took a punt against the backdrop of a brewing banking crisis), the yellow metal settled down as the dust settled following the buyout of Swiss bank Credit Suisse. It traded over $2,000 before dropping to around $1,940 at time of writ ing.

As an important strategic point, TreasuryONE noted on Monday that although other emerging markets strengthened thanks to recent dollar weakness, the rand didn't see as much of this benefit as it should've. Global sentiment towards the rand doesn't seem to have improved much, though we will have to see how the market digests the relative lack of action in the political shutdown on Monday.

The big news to watch is the FOMC announcement that will be out tonight SA time.

Have a great day!

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