Happy Friday! You made it. There's rugby this weekend and there's a lot to talk about on the markets, so all is well.
Although there's plenty to learn in Ghost Bites this morning, not least of all how sharply the market reacted to an update from Bytes that didn't look too bad to me, the focus is clearly on Pick n Pay at the moment.
Firstly, we can learn a lot from the way they structured the rights offer. Sometimes, the underwriters actually want the shares. Other times, they don't. This is an example of the latter. I also touched on the new share incentive package for CEO Sean Summers, which tells us a lot about the focus areas for the next few years.
If the retail stuff doesn't interest you, then perhaps property will. Sirius Real Estate and Schroder Real Estate tell us quite a lot about where we are in the property cycle.
All these insights and more are waiting for you in Ghost Bites this morning.
In other news, I put on probably the luckiest short in history yesterday. It was only with the Monopoly money in my IG Markets demo account, but it felt very good to make money on Tesla heading in the direction that I always think it should head: lower. I put on the short because I felt the valuation had gotten (even more) ridiculous, informed by our latest research in Magic Markets Premium. The timing was just really lucky as Musk announced a delay to the Robotaxi reveal, so the share price took a 8.4% bath for the day and I banked the pretend profits.
If you are interested in learning more about trading and having this kind of fun - responsibly, might I add - then refer to the first podcast in The Trader's Handbook series. To find out more, there's a great article on CFD trading vs. investing that you can read here>>>
Check out the brand new podcast (and transcript) with Andri Joubert of Investec Structured Products, where we unpacked two new structured products: the Investec Rand Nikkei 225 Autocall and the Investec Dollar Euro Stoxx 50 Autocall. If you're looking for exposure to Japan and Europe, then take the time to learn about a more structured way of doing it.
And finally, Friday means the great DealMakers summaries are ready for your enjoyment.
Enjoy the rest of your Ghost Mail and have a great weekend! |
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FEATURED: Investec Structured Products - new product launches |
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Investec structured products: Andri Joubert joined me to unpack the Rand Nikkei 225 Autocall and the Dollar Euro Stoxx 50 Autocall.
Expand your knowledge of investment opportunities through this podcast and transcript. |
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FEATURED: The Trader's Handbook |
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| | IG Markets collaboration: In the first episode of this exciting new podcast series, Shaun Murison of IG Markets South Africa joined me for an introduction to the art of trading and why we are doing this series. Get ready to learn about this wonderful element of the markets at this link>>> |
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FEATURED: Magic Markets - Investing in Global BRNDZ |
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Magic Markets: Aside from a reflection on the latest quarter and Big Tech driving market indices, this show with Craig Antonie of AnBro and the usual hosts of The Finance Ghost and Mohammed Nalla also delved into the BRNDZ portfolio and the strategy of investing in valuable brands. Get the podcast and transcript here>>> |
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| | Ghost Wrap: You need just five minutes to get the latest on a few stocks that I think are worth watching in a GNU environment. KAP, Sephaku Holdings, ArcelorMittal and Nampak are all waiting for you, brought to you by Forvis Mazars. Listen to it here>>> |
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Unlock the Stock: PBT Group returned to Unlock the Stock to present the recent numbers and take questions from the attendees of the live event. With many topics covered, this recording is well worth watching>>> |
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- Ghost Stories with Kingsley Williams of Satrix: Covering important topics like valuations and diversification, this discussion (and the related transcript) is an excellent learning opportunity for those wanting to develop their investment knowledge. Listen to the podcast or read the transcript at this link>>>
- Investec No Ordinary Wednesday podcast: The market may be unpredictable, but your investment strategy doesn’t have to be. Investec Investment Management experts share their insights on what approaches are winning, common mistakes investors make, and why staying the course is important. Enjoy it here>>>
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International Business Snippet: |
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As I mentioned further up, Tesla had a rough day yesterday. The valuation is based firmly on the automation and AI technology within Tesla, rather than the cars. Musk himself continues to drive this point home, acknowledging that the valuation would make no sense if Tesla was only a car company.
It's therefore not good when the non-car side of Tesla hits a wobbly, like the delay in the unveiling of a robotaxi. The delay is from August to October, so you wouldn't expect that to be such a big deal, but the reality is that Musk has been promising investors autonomy for several years now. It's also worth remembering that there's a big difference between an unveiling and a production date.
If you want to become a better stock picker, Magic Markets Premium is perfect for you. We covered Acushnet last week and we are digging into Tesla this week. To get access to this research and the rest of the vast library, subscribe to the platform here. |
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IG Morning Call: daily macroeconomic update |
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A softer than expected CPI inflation print yesterday has seen the dollar and US Treasury Yields trading lower. The S&P 500 and Nasdaq100, while briefly touching all-time high territory, sold off into the session dragged down by the tech sector.
There is the suggestion of profit taking and perhaps some rotation out of technology counters which have been notable outperformers as of late.
European futures are however pointing to a positive start while Asian markets trade mixed.
Our local bourse, the JSE All-Share Index, is expected to open firmer this morning
A softer greenback now sees the rand back below the R18/$ mark.
Oil prices are trading flat on the day.
Gold has breached the $2400/oz mark supported by the weaker dollar after yesterday’s inflation data.
Key Indicators: USD/ZAR R17.98/$ | US 10yr 4.20% | Gold $2,407/oz | Platinum $1,001/oz | Brent Crude $85.17
The macroeconomic update is based on IG's morning call update |
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