Charles Savage has a surname that is suitable for a bear market, that's for sure. It really is savage out there and there's a good chance that things are going to get worse for the rand this week. More on that later.
In case you've lived under a rock for several years, Charles Savage is the founder of EasyEquities. Yes, this business is the headline brand partner to Ghost Mail. No, that isn't why I'm such a fan of what they've built. I used EasyEquities for a long time before this brand partnership came to fruition, so my endorsement of the platform is sincere.
There is no debate - EasyEquities changed the face of investing in South Africa.
In the inaugural Ghost Stories podcast, I had the opportunity to really dig into the story behind the business with Charles. For over an hour, we discussed everything from spotting a market opportunity through to developing a culture and building a differentiated product. We talked about the product roadmap, the partnerships in the business and the global total addressable market.
Perhaps most encouragingly, we talked about the quality and resilience of investors on the platform. It's easy to simply write people off as being unqualified or too emotionally weak to withstand the rollercoaster ride of the markets. EasyEquities believed strongly in giving retail investors the power to manage their own money and the results have been wonderful. Charles shared some nuggets in the data that tell a story of an investment community that has achieved far more than many institutional players ever expected.
I genuinely came away from this conversation feeling inspired. This isn't my first rodeo and I spent years in investment banking working closely with some of the leading executives in South Africa, so I'm not easily impressed by someone. By the time you finish listening to this podcast, I'll be surprised if you don't fee l ready to take on the world!
Make the time today or on your public holiday tomorrow and listen to the episode at this link. Whether you are an EasyEquities investor, a shareholder in Purple Group or a startup founder, you will take a lot from this discussion.
The JSE newsflow yesterday was dominated by Standard Bank, Telkom and Sibanye-Stillwater. There was also a capital markets day presentation by Remgro. Exxaro and Harmony Gold chimed in, along with a vast array of director dealings. To read all about these updates and to learn about the option structure Christo Wiese has put in place on Shoprite shares, read Ghost Bites this morning.
I flagged at the start of this mailer that the rand is in trouble. The team at TreasuryONE does a great job of keeping us up to date with what is driving the wild currency movements that we all know and love. Or hate.
Either way, it's worth knowing what causes them. With the Fed press conference scheduled for this afternoon (US time), there's a strong probability of more pressure coming for emerging markets currencies. If you didn't switch your rands for dollars when it was trading in the low R15s, you may be in for a bumpy ride. To understand why, don't miss this fascinating piece from Andre Botha, Senior Dealer at TreasuryONE.
That's more than enough to keep you busy today. Have fun and learn as much as you can!
