| Good morning Voornaam,
Happy Friday!
There's some good stuff for you today, including a brand new episode of Magic Markets that walks you through an assessment of a company's performance against a backdrop of a volatile share price. The company is Dexcom, but the learnings can be applied to anything. Listen to it here>>>
As you plan your time next week, there's a double-header of Unlock the Stock on Thursday. You can attend the Karooooo event at midday and/or the TWK event at 13:45. Registration for each event is separate. Unlock the Stock is brought to you by A2X and you can register to attend here>>>
If you're looking for a longer podcast today that is packed with insights, then the latest Ghost Stories episode with Nico Katzke of Satrix is a great choice. We discussed a wide range of investment topics. In the second half of the show, we switched roles and he interviewed me! Enjoy it here>>>
Enjoy your Ghost Mail and have a lovely weekend!
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| BRAND NEW: Magic Markets podcast |
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| In Episode 150 of Magic Markets, we revisited diabetes management company Dexcom with the help of Justine Brophy from AnBro Capital.
This is a great example of looking through the share price volatility to understand how the underlying business is performing. It's always important to keep testing the financial and strategic thesis for your positions.
This isn't just about Dexcom. It's about sharpening your approach. This podcast is brought to you by AnBro. |
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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: Kool-Aid has an awful aftertaste
(by Dominique Olivier) |
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| | | "Drinking the Kool-Aid" is one of those terms that has become entrenched in the business world.
The origin is rather macabre, to say the least. What can it teach us about charismatic personalities and scammers? |
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| LATEST: Ghost Wrap podcast
(MTN | Woolworths | Pepkor | Octodec | AB InBev) |
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| | | The latest Ghost Wrap podcast needs just a few minutes of your time to get you up to date on MTN, Woolworths, Pepkor, Octodec and AB InBev. Ghost Wrap is brought to you by Mazars. |
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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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| LATEST: The ETF revolution - views from Satrix |
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| Kingsley Williams of Satrix gives us nine reasons why the boom in ETFs makes sense.
In my opinion, every investor should be using ETFs in a portfolio. This is why I'm always grateful to Satrix for their insights in Ghost Mail. |
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| DAILY: TreasuryONE Market Update The theme this week has been disappointing Chinese data, which has had an impact on emerging market currencies and commodity prices. This is partly why the rand has given back some of the recent gains, trading at R18.64 this morning.
Lower commodity prices don't do South Africa any favours, but at least Brent Crude is trading at around $80 as demand concerns overshadow geopolitical uncertainties.
Aside from Chinese worries, the rand has taken a knock in the aftermath of Fed Chair Jerome Powell's hawkish commentary last night. He stated that the Fed might need to hike further to bring inflation back within the target range. Fresh data releases in the coming weeks will be critical in informing the approach of the Fed at the next FOMC meeting. |
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| | | Get the latest on AngloGold, Life Healthcare, MultiChoice, Novus, PPC, Primeserv, Sappi, Sephaku, Sibanye-Stillwater and Truworths to keep you up to date.
It's all available with a single click in Ghost Bites. |
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| I'm still bearish on local retail The latest news from Truworths has done nothing to alleviate my concerns about local retail. Although the group result looks decent, that's entirely thanks to a strong performance in the UK (the Office business) that looks even better once translated into rands.
In Truworths Africa, comparable store sales fell 2.2% in the 17 weeks to 29 October and inflation was 9%. This means that sales volumes were down by double digits. Despite what is clearly a difficult environment, the group expanded trading space by 1.1%.
Speaking of expansion, Sibanye-Stillwater is using this point in the cycle to pick up assets. The acquisition of Reldan in the US brings the group a recycling business that turns industrial and electronic waste into gold, silver, palladium, platinum and copper.
Another big story this morning is Multichoice, where the Nigerian currency situation is a major concern. Much like at MTN and Nampak, the challenges with African currency depreciation just aren't going away. Based on last night's hawkish Fed commentary and the weak Chinese data coming through, I'm not sure there's much chance of a near-term improvement.
This is exactly why it is so important to read TreasuryONE's macroeconomic commentary as the backdrop for your equity investments!
You can also get the latest numbers from AngloGold, Novus, PPC, Primeserv, Sappi and Sephaku, along with the details of Life Healthcare's disposal of Alliance Medical Group and how much money the advisors made. Spoiler alert: it's a lot.
Read 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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