| Good morning Voornaam, The latest Magic Markets podcast was particularly fun to record. I know volatility can be a wild thing to deal with, but it's actually really exciting when you've been doing this for a while. We talked about our approach to these markets, with Moe actively trading them and me finally buying a few dips that looked dire yesterday and then suddenly came right. Most of all, we reflected on the circus that the markets can be. Enjoy it here>>>
The overlap between my world and Purple Group is interesting. Firstly, there's a colour that we both clearly enjoy. Secondly, they are focused on creating a place for South Africans to invest, while I'm focused on imparting the necessary knowledge to help that journey be more successful. And yet, I haven't been a shareholder in Purple throughout the pandemic, purely because of concerns about the valuation.
It wasn't the wrong call. Whilst I would've loved to bank the immense run from 2020 to January 2022, I'm not in the game of playing musical chairs with the market and holding stocks at crazy valuations. Today, it trades at less than a third of the levels we saw in early 2022. But the good news is that the earnings have finally caught up to the share price, so it's time to sprinkle some Purple in my portfolio. In Ghost Bites, I explain why based on the latest earnings.
In other news, Alphamin's happy news is that the Bisie tin mine in the DRC is back up and running. We also saw the unsurprising news of Assura rejecting the Primary Health Properties proposal and going with the higher, all-cash offer from KKR and Stonepeak instead. Finally, Jubilee has put in place a deal with a partner for processing of its PGM feed material in South Africa.
These details and the Nibbles are available in Ghost Bites at this link>>>
For a deep dive into CA&S, you still have a couple of hours to register for the next Unlock the Stock taking place today. As always, attendance is free! Register at this link>>>
STADIO is a rare thing: a growth story on the JSE. I sat down for a chat with the CEO (Chris Vorster) and CFO (Ishak Kula) of the group, where we focused on the business model and how it can drive the financial metrics going forwards. With the group embarking on an ambitious plan to build private universities that offer a similar student experience to public institutions, there's a lot to sink your teeth into. Find it here>>>
With markets continuing to behave like a toddler that was forcefed energy drinks, the value of diversification just keeps shining through. The concept of strategic asset allocation is critical for you to understand. Luckily, the Ghost Stories podcast with Kingsley Williams of Satrix is a great way to engage with that way of thinking. Find it here>>>
Good luck out there today! |
|---|
|
|---|
| GHOST STORIES: Diversification - the way to survive market chaos |
|---|
|
|---|
| | | With the markets in disarray in the aftermath of tariffs, it looks like the theme this year is more around risk management in a bear market rather than which growth stocks to buy.
This is where strategic asset allocation becomes key, as discussed with Kingsley Williams of Satrix in this podcast.
Enjoy it here>>> |
|---|
|
|---|
| GHOST STORIES: STADIO - a growth story on the JSE |
|---|
|
|---|
| | | STADIO Holdings has a growth story to tell. That’s a rare thing on the South African market. The tertiary education space is booming and STADIO is addressing that demand through a combination of contact learning and distance learning offerings.
On this podcast, CEO Chris Vorster and CFO Ishak Kula joined me to talk through the strategy, the growth prospects, the capital allocation strategy and the risks that keep them up at night. If you want to really dig into the STADIO business model, you’re in the right place! Find it here>>> |
|---|
|
|---|
| GHOST WRAP: Q1 winners on the JSE |
|---|
|
|---|
| In considering how the first few months of the year have played out, some surprising winners have emerged. The performance in gold is simply a case of the sector carrying on where it left off in 2024, but what about platinum? And where did that telecoms rally come from? Also, have retail stocks continued their slide since the previous episode of Ghost Wrap that focused on that issue?
You can find the recording and the transcript (with charts) at this link>>> |
|---|
| |
|---|
| GHOST BITES - Making sense of SENS on the local market |
|---|
|
|---|
| | | Purple Group is looking better than ever. Alphamin is operating its Bisie mine again, as insurgents moved far away enough. Assura said no to Primary Health Properties. Jubilee has done a PGM processing deal. Get the details in Ghost Bites>>> |
|---|
|
|---|
| Unlock the Stock - Fortress Real Estate Investments |
|---|
|
|---|
| In the 50th edition of Unlock the Stock, Fortress Real Estate Investments made its debut on the platform to talk about the recent performance and strategic focus areas for the group. The recording of the management presentation and interactive Q&A is available at this link>>> |
|---|
| |
|---|
| DOMINIQUE OLIVIER - Adolescence: why do some things go viral? |
|---|
|
|---|
| | | There’s a temptation to treat virality like a shot in the dark. But virality isn’t an accident - it’s chemistry. And when it works, it works for a reason: a potent mix of psychology, social contagion, and cultural timing. Dominique Olivier uses Adolescence as a perfect example in this piece>>> |
|---|
|
|---|
| INVESTEC PODCAST: Global economy - recession or recovery? |
|---|
|
|---|
| | | Recession risks, inflation pressures, and trade tensions - how is the global economy shaping up in 2025? Investec’s Chief Economists, Phil Shaw (UK) and Annabel Bishop (SA), take stock of the latest trends in No Ordinary Wednesday. From global growth forecasts to the economic outlook for Europe and South Africa, they break down what lies ahead in this podcast>>> |
|---|
|
|---|
| International Business Snippet: |
|---|
|
|---|
| Delta Air Lines released numbers yesterday and the focus was of course on the impact of tariffs. They didn't mince their words, pulling the 2025 forecast and noting that bookings are being impacted.
That's a huge negative swing from the narrative coming into this year, in which the company predicted that it would have the best year in its history. Business trips are taking particular strain, as one would expect in this environment.
The company now plans to keep its capacity flat this year, so the pressure simply flows up into the plane manufacturers. Airbus is at risk here, as the company would be impacted by tariffs and the planes would be more expensive. Then again, the 'Murica alternative is Boeing. We all know how great those planes are.
Our latest research in Magic Markets Premium is on Chinese giant Alibaba. With Jack Ma back in the spotlight and the share price having rallied strongly before tariffs, is there reason to believe in this story again? For our subscribers, we dig into how Alibaba is making money and whether we would jump in. |
|---|
|
|---|
| Magic Markets: Consumer Conundrum |
|---|
|
|---|
| | | Magic Markets: The first quarter of the year was an unhappy one for most consumer stocks. Tariffs are top of mind, as is the pressure that many brands have been facing in China. Inflation is a risk and consumer sentiment is weak. Against this backdrop, is there opportunity in this sector, or is it better to sit this one out and let the volatility do its thing?
And does it make a difference to look at discretionary vs. defensive stocks? To learn more, listen to this podcast>>> |
|---|
|
|---|
| Macroeconomic indicators and IG Markets macro update |
|---|
|
|---|
| The US stock market experienced a remarkable rally on April 9, 2025, with the S&P 500 surging 9.5% (its largest single-day gain since 2008), the Dow Jones Industrial Average rising 7.87%, and the Nasdaq Composite jumping 12%. This surge followed President Trump's announcement of a 90-day pause on certain tariffs affecting over 75 countries.
However, the rally is being marginally tempered this morning with S&P 500 and Nasdaq futures trading lower ahead of today's trading session.
While many countries received tariff relief, China faced increased tariffs of 125%, prompting Beijing to double its retaliatory duties on US imports. Despite this targeted pressure on China, Asian markets broadly responded positively to the US rally, though Chinese indices gained by smaller margins compared to other markets.
The complex trade situation has created mixed signals across various asset classes.
The dollar struggled to maintain overnight gains, particularly against safe-haven currencies like the yen and Swiss franc. The South African rand recovered some recent losses.
Gold prices rose as investors sought safety amid escalating US-China trade tensions.
Meanwhile, oil prices fell approximately 1% as markets processed the differentiated tariff approach.
The JSE All-Share Index is expected to open positively today, reflecting improved near-term risk sentiment despite ongoing uncertainty about the broader trade landscape.
Key Indicators: USD/ZAR R19.27/$ | US 10yr 4.29% | Gold $3,122/oz | Platinum $929/oz | Brent Crude $65.10
As often as practically possible, insights from the IG Markets morning macro update by Shaun Murison will be featured here. Where this isn't possible, only indicators will be provided. If you want to learn more about trading, refer back to The Trader's Handbook, a podcast series that takes you through many of the important principles in trading. |
|---|
|
|---|
|
|
