View in web browser

Good morning Voornaam,

Welcome to Ghost Mail. I've been expecting you.

Social media has, predictably, been widly depressing for the past 24 hours. Sometimes, the markets offer refuge for your headspace, especially at times like these. Unlike so many others, I've elected not to become an overnight expert on the political history of the Middle East, so I'll just comment on stocks instead and remind you that I hate the senseless loss of human life in any context.

Also, you still have time to register for Unlock the Stock with Lesaka Technologies on Thursday. This is a fascinating company focused on fintech solutions in Southern Africa. With a recent major acquisition under their belts and more that need to come, there's a lot to learn here. Thanks to A2X, attendance is free! You need to register at this link to attend>>>

Have a good day!

NEW: Magic Markets podcast

In the aftermath of the pandemic, it's been fascinating to follow the recovery of the hospitality and tourism sector. In the latest Magic Markets episode, we cover local hotel group Southern Sun and international cruise business Carnival Corporation. Episode 145 of Magic Markets is brought to you by B2IT.

Listen to Magic Markets Episode 145 here (19 minutes long)

Ghost Wrap podcast (Rex Trueform \| Barloworld \| Spar \| Capitec \| Vukile + Attacq)

The Ghost Wrap podcast is a great way to stay on top of local company news. I went into more detail than usual on these stories, covering an acquisition by Rex Trueform, results from Barloworld and Spar, important trends at Capitec and the outlook at Vukile and Attacq. Ghost Wrap is brought to you by Mazars.

Listen to the Ghost Wrap podcast here (7 minutes long)

The lessons dished out by the markets this year have been all about how companies cope in inflationary conditions. The winners have one thing in common: pricing power.

Learn about pricing power in this piece I wrote for EasyEquities

Ghost Stories podcast

How have ETFs done thus far in 2023 and where was the right place to put your money? Find out in Ghost Stories with Siyabulela Nomoyi of Satrix.

Listen to Ghost Stories with Siya

For founders: the bizval podcast

Designing a business through critical thinking is a major ingredient for success. Hugh Stafford-Smith from the UK spoke to me about this topic on the bizval podcast.

Learn business design

Satrix INDI is an ETF with a Proudly South African flavour. Learn more here.

NEW: CA Sales Holdings is a really strong example of how locally listed companies can deliver great returns. The management team returned to Unlock the Stock to unpack the recent performance and answer questions about the strategy and business model. Don't miss it! Unlock the Stock is brought to you by A2X.

Watch Unlock the Stock

TreasuryONE Market Update

Oil prices rose 4% yesterday for obvious reasons, with geopolitical tensions in the Middle East as an almost guaranteed driver of the oil price, even just for a while. Brent Crude is at around $87.80 this morning. Gold also caught a bid, back above $1,850.

In the US, dovish comments from Fed officials saw bond yields fall sharply. Currency markets have been rather quiet despite the conflict, with US PPI and CPI numbers later this week as a potential catalyst for movement. The rand is at R19.36 this morning and holding steady.

NEW: Ghost Bites

Get the latest on Alphamin, Famous Brands, Sirius Real Estate and Transpaco. It's all available with a single click in Ghost Bites.

Read Ghost Bites at this link to stay updated on local company news

Famous Brands vs. Spur: the new consumer battle to watch?

The value of common sense in investing cannot be overstated. Sometimes, you just need to look around you.

As I've written in Ghost Bites this morning, I never see anyone under the age of 75 at my local Wimpy. The Mugg & Bean in the same centre doesn't operate during load shedding. The contrast at Spur is incredible, with the place buzzing practically every afternoon, nevermind weekends.

Spur Corporation is doing very well at the moment and Famous Brands isn't, as confirmed by a trading statement. Is this a Shoprite vs. Pick n Pay situation? If it is, then the recent gap in performance could widen further, making this a very interesting long-short trade for those who play those sorts of games.

To get more details on this update and to learn about Alphamin, Sirius Real Estate and Transpaco, read Ghost Bites here>>>

Finally, I saw headlines running around yesterday and this morning about African Rainbow Capital Investments considering a delisting, which is particularly irritating when some of the underlying investments are starting to do well. There are several official reasons, but I suspect that a contributing factor is that the new management incentive programme means they can't further enrich themselves at the expense of investors quite like they could before. If you've learnt nothing else from that disaster area, at least learn that putting your money behind big names is no guarantee of success for you.

Sometimes, it's only a guarantee of success for them.

You should expect us in your inbox Monday – Friday. If you don’t receive an email, please check your spam, or junk folder and “move us” into your primary inbox to ensure you get it each morning.

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.

Whilst every care is taken, we accept no responsibility or liability for any errors or omissions in any of our content.

The views, thoughts and opinions expressed in our content belong solely to the author or quoted individuals and/or entities, and not necessarily to the author's employer, organisation, committee or other group or individual, or any of our affiliates or brand partners.