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Good Morning Voornaam

We’ve reached the end of the first week of the new and improved Ghost Mail! I’ve loved every minute of it and I hope you have as well, despite markets having had an awful week.

In case you haven’t noticed, I love charts. To bring this week to a close, I decided to include a share price chart for Sibanye-Stillwater, a company that I hold in my portfolio (source: Google Finance):

You need a strong stomach for this market, that’s for sure. This is a sell-off of over 40% since the recent peak in March although there was a dividend paid in that period. This chart is exactly why I’m a fan of having a diversified portfolio with many smaller positions, rather than a concentrated portfolio with hills that I’m prepared to die on. The markets are uncertain and I avoid having any such hills!

One of the most interesting things about the market is how companies can report such different results. For example, today’s feature articles are on Sappi with great numbers this quarter and Harmony with production challenges driving a knock to profits.

There are many more earnings updates and other snippets of news in Ghost Bites this morning.

I worked in the corporate finance industry for six years and it was critical to me to retain the DealMakers updates as part of the merger of Ghost Mail with InceConnect. Each Friday, we will continue to benefit from the summaries and thought leadership pieces published by DealMakers. You’ll find all of them at this link.

We are seeing significant moves in our currency and in commodity prices at the moment. Wichard Cilliers (Head of Market Risk at TreasuryONE) has summarised yesterday’s moves for us:

“The rand held its own yesterday, with the local currency closing on the front foot. After opening around R16.18, we saw weakness on the local currency up towards the R16.25 mark on the back of sustained dollar strength. We have seen an exciting move in the late afternoon with the rand back at R16.10 even with EUR/USD trading below 1.04. Other emerging markets are also grinding their way back to stronger levels with the risk-off sentiment winding down. Metals are under massive pressure with gold that is supposed to be hedge against inflation not even rallying.”

I continue to scratch my head over gold, which has not behaved itself during this period of inflation. For more details on US inflation and treasuries, check out this article from TreasuryONE that they released yesterday morning.

Finally, have a listen to the latest free Magic Markets podcast where we welcomed Justine Brophy from AnBro Capital Investments to the show. We talked about whether growth stocks have bottomed. We also looked at three Biotech stocks that the investment specialists at AnBro are looking at. As always, there’s much to learn here!

Have a terrific weekend and let your hair down after such a hectic week.

Ghost Bites Vol 5 (22)

Earnings updates are a mixed bag at the moment, as some companies flourish and others falter in this environment.

Sappi is loving this cycle

Sappi is taking advantage of favourable market conditions, posting a strong earnings performance in the second quarter.

Harmony knocked by production numbers

Harmony Gold's Hidden Valley operation has taken the shine off results this year.

South African M&A Analysis Q1 2022

As part of the suite of DealMakers content today, there’s a summary of M&A activity for the first quarter of the year.

Magic Markets Ep75: Investing in Biotech (with AnBro Capital)

Justine Brophy from AnBro joined us to discuss whether we’ve seen the bottom in growth stocks. We also looked at three examples of biotech stocks.

Listen Now

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