| Good morning Voornaam, Quick links: Sibanye-Stillwater has been right-sizing or closing unprofitable parts of the business and isn't done yet, with another s189 announced. At Schroder Real Estate, property valuations moved the wrong way in the latest quarter. Nu-World is showing more resilience than expected thanks to the global exposure. Kibo Energy seems to be making some progress. Get these updates and more in Ghost Bites, brought to you by Fedgroup. There's a brand new Ghost Wrap podcast that brings you a useful overview of four recent examples of M&A on the local market. I covered MultiChoice / Canal+, Grindrod Shipping / Taylor Maritime, MC Mining / Goldway and the recent Sanlam deals related to Shriram in India. Brought to you by Mazars, you can get your fix in this fast-paced podcast. There's also a brand new episode of the Magic Markets podcast, this time featuring Harry Scherzer of Future Forex. A familiar voice to listeners, Harry updates us on the crypto arbitrage opportunity to boost portfolio returns and why South Africans shouldn't allow their R11 million annual offshore allowances to ever go to waste. Learn more here>>> Jeremy Maggs is a highly familiar name in local broadcasting and he hosts Investec's No Ordinary Wednesday podcast. The latest episode features award-winning fund managers Barry Shamley and Peter Vogel, bringing you their view on the markets. This podcast is brought to you by Investec and you can (and should) listen to it here>>> Artificial, or Artificial Intelligence? AI is dominating headlines everywhere, which means opportunities and risks. To discuss this phenomenon, Nico Katzke of Satrix joined me on the latest Ghost Stories podcast. Find it here>>> If you thought the spiders were the most frightening things in Australia, think again. Dominique Olivier brings you the story of emus, guerrila warfare tactics and a battle over wheat fields that gives you an incredible view of the post-WWI and Great Depression hardships. Give yourself the best watercooler story in the office today by reading this excellent article>>> |
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| Events: Bell Equipment is up next on Unlock the Stock. With plenty of activity around that stock in recent times, driven by strong earnings on one hand and the lack of a dividend on the other, this is sure to be a fascinating conversation with the management team. Put on your analyst hat and sign up to attend the event where you can pose your questions to the team. Attendance is free but you must register here>>> |
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| Special Offer: Attention: business owners. Ghost Mail readers qualify for an exclusive webinar with yours truly and my fellow bizval co-founders if you value your business with bizval this April. Our offerings range from an online valuation tool through to a full-service, detailed look at your business. We can even help prepare you for a future sale! Choose one of our paid offerings here to qualify for the webinar, giving you a chance to ask whatever you want about business growth, valuation and sale preparation. |
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| DealMakers weekly summaries and insightful articles |
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| LISTEN: Ghost Wrap - the M&A edition |
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| Get the latest on four recent examples of M&A on the local market: MultiChoice, Grindrod Shipping, MC Mining and Sanlam.
Thanks to Mazars, it's all in this podcast>>> |
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| LISTEN: Artificial, or Artificial Intelligence?
(with Nico Katzke of Satrix) |
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| Artificial Intelligence (or AI) is all over the headlines. Like with any hype trade, that's both an opportunity and a risk.
To bring some clarity to what this is and what this isn't, Nico Katzke of Satrix joined me on Ghost Stories. You'll really enjoy this podcast>>> |
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| LISTEN AND READ: The Investec Nikkei 225 Autocall
with Brian McMillan of Investec |
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| Brian McMillan of Structured Products at Investec talked to me about the Investec Nikkei 225 Autocall.
It offers exposure to the Nikkei 225 index over a period of up to five years with an enhanced return of up to 17% per annum in ZAR or 11.5% per annum in USD. Importantly, there is 100% capital protection provided the index does not drop by more than 30%.
Listen to this podcast to find out more. Alternatively, you can read this article about the product. |
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| READ: Emus with Guerrilla Tactics
(by Dominique Olivier) |
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| In a tale of Aussies vs. nature, along with the hardship of the post-WWI recovery and the Great Depression, Dominique Olivier brings you the emus of Australia and their battle with veterens who were given land to farm.
It's quite the story, believe me. Get it in this excellent article>>> |
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Local company news:
Ghost Bites is brought to you by Fedgroup.
Sibanye-Stillwater must be enjoying the upswing in commodity prices (and I'm certainly glad that I bought more recently before it happened), but there's still work to be done within the business. There are operations running at a loss, which is problematic. To add to the recent trend of retrenchments at the company, there's yet another s189 announcement. It impacts Beatrix 1, Kloof 2 and the shared services function.
At Nu-World, which imports and distributes appliances among other things, there's more resilience in this result than I expected. The offshore push is paying off, with that side of the business responsible for more than half of operating profits. Although this has been a "value trap" in the market (a stock that is cheap and stays cheap) and the working capital trend is worrying, it's worth keeping an eye on it.
Elsewhere, Schroder Real Estate's portfolio valuations in Europe are still heading the wrong way, with the exception of the industrial portfolio. In the UK, Kibo Energy's subsidiary Mast Energy Developments has announced some progress at two of its projects.
Get the details in Ghost Bites at this link>>> |
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| LISTEN: Magic Markets podcast |
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| In Episode 170 of Magic Markets, Harry Scherzer of Future Forex returned to the platform to update us on the crypto arbitrage opportunity and how it boosts portfolio returns.
This is a very clever way to make sure that your total annual offshore investment allowance of R11 million doesn't go to waste. Listen to the show here>>> |
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| Macroeconomic Update The dollar opened firmer in Asia this morning as Fed rate cut bets have been pushed out. The ECB is expected to start cutting in June, so that is now putting pressure on the euro. Over in Japan, there's still no sign of any Bank of Japan actiions in the open market to support the currency. The rand closed flat last night after strong exporter flows saw the currency pull back.
Gold hit a fresh record high earlier this morning, while PGMs and base metals are up as well. Brent Crude is back above $90 this morning after closing below that level last night.
Key indicators: USD/ZAR R18.75; US 10-year 4.57%; Gold $2,383; Platinum ZAR R18,504; Brent Crude $90.22
This macroeconomic update is based on TreasuryONE's morning update. |
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| READ: Dive into your DIY investing adventure
(by Duma Mxenge of Satrix) |
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| Yes, you can take investing into your own hands - you just need a sensible approach to it.
In this excellent article, Duma Mxenge gives sensible, easy-to-follow tips on how to get more involved in your wealth creation journey. |
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International company news:
We recently saw how the Disney proxy fight didn't go the way of activist shareholders, with major institutions throwing their weight behind Bob Iger. In fact, this prompted us to cover Disney in our latest Premium show, where the research was enough for me to sell all my shares in the company.
Over at Macy's, we've seen a different outcome. Arkhouse has led a proxy fight there that has led to two directors being added to a 15-person board. This is to ensure that Arkhouse's efforts to take Macy's private are given the requisite attention. Shareholder activism is a big deal in the US market. We occasionally see it here in South Africa as well.
And if you can believe it, Moderna has only now halted plans to build a vaccine plant in Kenya. Yes, for COVID vaccines. Only now. You are reading all of this correctly.
Our latest show in Magic Markets Premium is a detailed recap on Disney, which drove me to sell my shares after the recent rally. Why is that? Subscribers find out by accessing our entire research library for just R99/month. It pays to know what's going on out there - literally.
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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.
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