Good morning Voornaam,
You've nearly made it to the end of another month, with just one more to go this year. If you're a business owner, you're probably preparing for November payroll. If you're an employee, you're probably budgeting for Black Friday and Christmas specials, while anxiously waiting for your salary.
Either way, welcome to Ghost Mail!
Given the time of year, I'm going to once again highlight the excellent piece by Dominique Olivier that deals with the history of the credit card as we know it today. A marketing coup several decades ago completely changed the way consumers behave. Read this article>>>
Get stuck in and enjoy today's content! |
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BRAND NEW: Diners Club, debt and the downfall of society
(by Dominique Olivier) |
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In her latest column, Dominique Olivier tells the story of the credit card and how our lives came to revolve around plastic consumerism.
Just in time for Black Friday, of course! |
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BRAND NEW: Ghost Wrap podcast
(NEPI Rockcastle | MultiChoice | Santam | Shoprite vs. Woolworths | Richemont) |
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| | The latest Ghost Wrap podcast needs just a few minutes of your time to get you up to date on six companies across a variety of sectors. Ghost Wrap is brought to you by Mazars. |
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LATEST: Magic Markets podcast |
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In Episode 151 of Magic Markets, we looked at home building companies and how they have performed in this environment of higher interest rates.
The results may surprise you!
Moe looked at D.R. Horton and yours truly focused on Balwin, with some passing commentary on Calgro M3 as well.
This show is brought to you by international date and automation specialists B2IT. |
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LATEST: Global megatrends shaping the ETFs of the future |
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Kingsley Williams of Satrix looks ahead to the potential landscape for ETFs in 2030 by focusing on the key trends that are driving growth in this asset class. There's a lot to feel excited about! |
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Bell Equipment and Calgro M3 returned to the Unlock the Stock platform in a joint session to share insights into the recent numbers and the strategic outlook.
You can watch the recording here, thanks to our partner A2X. |
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LATEST: Ghost Stories podcast with Nico Katzke of Satrix |
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| | Nico Katzke is no stranger to Ghost Stories listeners. There's always so much to learn from him about markets and investing. This time, you also get to enjoy him putting me through my paces in the second half of the show. |
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 DAILY: TreasuryONE Market Update The narrative of a declining US labour market took a knock yesterday, as jobless claims dropped unexpectedly. The data is erratic, but it doesnt talk to a weakening economy and that's not good for hopes of a less aggressive stance by the Fed. Durable goods orders were below expectations though, largely due to aircraft orders.
In South Africa, headline inflation was ahead of expectations of 5.6%, coming in at 5.9%. Core inflation was 4.4%, slightly down from 4.5%. Fruit and vegetable inflation surged to 20.5%, as anyone who walks around a grocery store will know.
The rand underperformed emerging market peers in the wake of these updates, nearly reaching R18.90. The Monetary Policy Committee meeting today is unlikely to result in a hike in rates, even with the inflation data coming in hotter than expected, but watch out for a fairly hawkish tone.
Gold dipped slightly based on the US jobs data, trading at $1,995 this morning. Brent Crude is just below $81 a barrel.
To cap off the year, TreasuryONE is hosting a webinar on Tuesday, 5th December at 9am. Attendance is free, but you must register here. Get it in your calendar nice and early! |
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| | Get the latest on Burstone, Growthpoint, Old Mutual, Pan African Resources, Primeserv, Reunert, RFG Holdings and Textainer to keep you up to date. It's all available with a single click in Ghost Bites. |
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In food, it's all about categories If you read the TreasuryONE update properly, you would've noticed a huge jump in food and vegetable inflation. That's not good for anyone's HealthyFood benefit on Vitality. It's especially not good for consumer health in general, as this is the stuff we should all be eating!
The canned food aisle is a particularly shocking place. Inflation is out of control there, hitting consumers right between the eyes on basics like baked beans.
At RFG Holdings, volumes moved sharply lower. Pricing increases more than offset this, along with demand in categories like long-life and pies. They are facing a lot of pressure in the canned food business, which makes sense given the level of inflation.
The lesson here? Food businesses aren't created equal. If you want to invest in that space, you need to dig deeper and understand the underlying categories. It also helps to understand export vs. local demand, as the weak rand helped RFG in what would otherwise have been a poor period for the international business.
Moving on, the update by Growthpoint is important. It's quite astonishing to compare vacancies in Sandton to Cape Town. It's also no surprise that the V&A Waterfront remains the jewel in the crown, or that there's some fascinating renewable energy stuff happening down here by the mountain. I try hard not to be that annoying semigrator who constantly reminds you how good Cape Town is vs. the rest of the country in so many ways, but it's hard sometimes.
If you are bullish on gold, I also recommend that you pay close attention to the update by Pan African Resources.
Along with Burstone, Old Mutual, Primeserv, Reunert (well worth looking at in detail) and Textainer, there's an assortment of Little Bites that includes a landmark leadership change at both Nedbank and Absa. You can get everything you need in Ghost Bites at this link>>> |
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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.
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. |
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