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Good Morning Voornaam,

Be quick! If you haven't registered yet for today's bizval webinar at noon, there's still time. The founders of Desray and Silvery will be joining us to talk about their journeys in building direct-to-consumer businesses. Attendance is free but you must register at this link>>>

And before we move on to yesterday's news on the JSE, be sure that you get up to speed with recent updates from RFG, Prosus, Quantum, Fortress, Mr Price, Telkom, Pepkor and Bidcorp. All you need is six minutes, thanks to the Ghost Wrap podcast brought to you by Mazars.

Ghost Bites:

Fairvest released its first results since the Arrowhead merger, which makes them tricky to use
Mahube Infrastructure achieved modest growth in NAV
PBT Group hasn't escaped the pressures of inflation, though most of the margin pain is because of high staff incentivisation payments that aren't expected to be repeated
Santam is set to change its operating model from January and has released a trading update for the 10 months ended October

In addition to detailed updates on these stories, Ghost Bites includes snippets on Stefanutti Stocks, Ascendis Health, Tharisa, Grand Parade Investments and many more. Pour yourself a bowl of Ghost Bites and read what the fund managers read>>>

Global media giants: we dig into Disney and Warner Music

In this week's edition of Ghost Global, the team opted to have a look at Disney and Warner Music.

The former is dealing with a surprise leadership change that saw Bob Chapek kicked out and Bob Iger returning to the top job, a direct result of abysmal financial performance by Disney, particularly in streaming.

At Warner M usic, the underlying growth in the music industry is fascinating. It hasn't been enough to save the share price this year, with Warner Music's share price as painful to watch as Disney.

Broader your horizons and read Ghost Global here>>>

Emerging markets on the front foot

The rand has been enjoying recent trading sessions and yesterday's session in South African trading hours was no different. After spending most of the day in a narrow range, the rand tried to break below R16.90. Even the trade balance of negative R4.3 billion vs. expected positive R16.8 billion couldn't dampen the rand's enthusiasm. In the end, the party was ruined late in the day by the news that Presi dent Ramaphosa has an impeachment case to answer, with the rand moving to over R17.20 against the dollar.

Looking abroad, TreasuryONE highlights the Q3 revised GDP print that showed the US economy growing 2.9% quarter-on-quarter vs. 2.6% reported initially. Separately, Private Employment data came in lower than expected, which is generally seen as a leading indicator for Non-Farm Payrolls due this Friday.

Don't fall behind on Magic Markets

With a new episode of Magic Markets due to be released in Ghost Mail tomorrow, make sure you've listened to Episode 1 03 on alternative assets and the way that independent wealth managers use them in portfolios.

Have an excellent Thursday and welcome to December!

Ghost Bites (Fairvest | Mahube | PBT | Santam)

Fairvest released its first results since the Arrowhead merger. Mahube Infrastructure achieved modest growth in NAV. PBT Group's margin hasn't escaped inflationary pressures. Santam issued a 10-month trading update.

Ghost Global (Disney | Warner Music Group)

In updates from two of the biggest media companies in the world, we take a look at the change of management at Disney and the solid growth in music revenue that is powering Warner Music.

Yes, you can build a more valuable business

In a recent two-part webinar series, the founders of bizval (including your favourite ghost) shared deep insights into how to build a more valuable business. Founders, this is for you.

Ghost Wrap Ep 3 (RFG Holdings | Prosus | Quantum | Fortress | Mr Price | Telkom | Pepkor | Bidcorp)

It takes just six minutes to get up to speed on eight of the most important stories on the JSE last week, brought to you by Mazars.

Listen Now

Ep103: Alternatives - the Wealth Management View

Westbrooke Alternative Asset Management conducted a recent survey with independent wealth managers about alternative assets. The results are fascinating.

Listen Now

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