Ghost Bites:

• Calgro M3 is lining up a huge pipeline
• Labat needs capital as cash is running low
• Mpact responds to Caxton on several points
• There's a disaster at Murray & Roberts

For all the important details on these stories (and a few others), be sure to read Ghost Bites today>>>

Position (size) matters

As any Murray & Roberts shareholder will tell you, having smaller positions in your portfolio can save you a lot of pain. Although there were some clues in the market that there might be trouble at the construction company, I don't think many were expecting the share price to be smashed by over 36% yesterday.

Those who follow me closely on Twitter will know that I believe in having a large number of small positions in a portfolio. There is just too much randomness in this world to justify a high concentration portfolio of a handful of stocks. Anything can (and often does) go wrong.

This is a perfect example. When a share price collapses like this, you don't want to see a huge chunk of your portfolio value disappear.

Be careful out there!

Making the British Pound Great again

Although most of the market traded sideways yesterday, the pound was firmly on the front foot after new Chancellor Jeremy Hunt reversed most of the mini-budget tax measures. The planned cut in income tax is scrapped and a cap on energy bills will only be guaranteed until April next year when it will be reviewed. This caused the dollar to lose ground against the euro as well. This environment gave the rand some scope to move back towards the R18.00 level.

Commodities also had a good day, with gold and the PGMs trading higher. Brent Crude also stopped its downward momentum.

With the data cupboard bare on the US side this week, we could see a brief halt in the momentum of the US dollar and emerging market currencies strengthening.

If you missed last week's TreasuryONE webinar, you can watch the recording here>>>

Market mistakes we all make

In the latest episode of Magic Markets, we decided to cover some of the most frequent mistakes made by investors and traders in the market. We covered a mix of basic and more advanced topics, including the importance of combining financial analysis with a strategic understanding of the business. Listen to the show here>>>

Unlock the Stock this week

It 's time for the next edition of Unlock the Stock, the platform that lets you be a market analyst for a day.

The management teams of Pan African Resources and Calgro M3 will join us to talk about the strategies and latest numbers in their respective businesses. The event is free to attend, which makes it a no-brainer for anyone interested in these companies and learning more about fundamental financial analysis in general.

All you need to do is register at this link>>>

Good luck in the markets today!