Too smooth, some might argue

Good Morning Voornaam,

Planning your diary for Wednesday? I have a couple of webinars that you could consider adding to your day.

The first one is a bizval webinar, in which we will be digging even deeper into the due diligence process. This is a wonderful way for founders to learn about the pitfalls of this process, which can be the difference between success and failure when selling a business. Register for the bizval webinar at 12pm on Wednesday here.

The second is by Grov est, talking about the Twelve B Green Energy Fund that they are launching. A panel discussion at 4pm on Wednesday is the order of the day, allowing you to learn about this renewable-themed investment opportunity with a tax kicker. Register for the Grovest webinar here.

And before we move on, if you enjoyed Fernando Alonso's impressive drive (and late-night penalty reversal, delivering his 100th podium) at the Saudi Arabian Grand Prix, you'll love the latest Magic Markets podcast. With Barry Dumas of Trive South Africa as our guest, we discussed the benefit for the Aston Martin brand of the performance on track and whether it can really translate into better financial results. With insights into the luxury automobile market, this is a fun and informative dis cussion. Best of all, there's a brand-new Magic Markets website where you'll find this show>>>

Too smooth?

When it comes to giving investors things to worry about beyond the numbers, nobody does it better than Balwin. Governance is a concern for many investors there and the valuation multiple reflects those worries, as Balwin trades at a stubbornly low multiple. They've really outdone themselves in the latest update, with several comments in the SENS announcement that were worrying, open-ended or often both. I've included screenshots in Ghost Bites this morning.

I also covered updates from Capital & Regional, Montau k Renewables, Premier, Richemont and SA Corporate Real Estate, along with important director dealings at Invicta. Find Ghost Bites here>>>

It's fun. It's fast. It's informative.

Ghost Wrap is designed for people who are looking for a highlights reel of recent news on the JSE. Whether you're a casual observer of the market or you just want to make sure that you didn't miss any of these stories, the Ghost Wrap podcast is a weekly update that is a great use of your time.

Brought to you by Mazars, I focused this week on Tra nsaction Capital, Sun International, Gold Fields and AngloGold, Hyprop, Sabvest Capital, STADIO, Caxton & CTP and Balwin. Find it here>>>

Welcome to FOMC week

After banking headlines dominated the markets last week (and over the weekend, with news out of Switzerland that UBS will "rescue" Credit Suisse), we now have a week where the focus will likely be on the FOMC meeting.

For TreasuryONE, the big question is this: will downward tr ending inflation and financial market instability push the Fed to a more dovish outlook? In other words, are we done with hikes for now, despite the ECB sticking to their 50 basis points hike last week with inflation as the focus?

In commodities, Brent Crude and gold traded as one would expect against this backdrop of financial market jitters. Oil was down and gold was up, as capital moved to the yellow metal as a safe haven.

We are likely in for an unpleasant day in South Africa. Stay safe and stay rational.

Ghost Bites (Balwin | Capital & Regional | Montauk Renewables | Premier | Richemont | SA Corporate Real Estate)

Balwin's outlook is worrying. Capital & Regional sells The Mall. Montauk swings into profitability. Premier's offer was strongly supported by Titan. Richemont simplifies its listing. SA Corporate Real Estate inches forward.

The Rand has gone from bad to worse over the last month, but is it really a surprise? The R/$ has been especially volatile of late, but it's been a story of one step forward and two steps back.

Orbvest: where is the Rand/Dollar going?
Investing mirrors life: How bias affects investment decision making

Do you see yourself as an above average driver? Do you believe referees generally favour Springbok opponents more?

 

Aside from Transaction Capital dominating the headlines, there was good news from Sun International, STADIO, Caxton and Sabvest. Gold Fields and AngloGold announced a JV. Hyprop missed an interim dividend. The outlook for Balwin is worrying.

 

Fernando Alonso can certainly drive, but he probably can't save the financial performance of Aston Martin Lagonda Holdings. But what can? And how does this luxury automobile industry work? Barry Dumas of Trive joined us for this discussion.

 

In this candid discussion with Woolworths CEO Roy Bagattini, we unpacked great insights into how the retailer is navigating this environment. This episode of Ghost Stories is brought to you by EasyEquities.

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