Learn more about the stockbroking landscape in South Africa and different customer segments by reading this article from Travis Robson, CEO of Trive South Africa.
Be kind to yourself
Things are tough out there. If one thing is clear from the recent updates on the JSE, it's that South African companies (and more importantly, our people) are operating in conditions that are far from ideal. You've made it to Friday, so be kind to yourself.
I've had many moments on my journey as a ghost where I've questioned my own sanity in trying to build this. If you feel that way about your own journey right now, then perhaps sharing my all-time-favourite YouTube video will help you. Something in here just might resonate and get you through your day.
If it's tough, it's because you're doing something noteworthy. Good on you.
It can't be easy, Tiger
As regular readers will know, Tiger Brands gave me a positive surprise last year. I couldn't quite understand how they managed to turn it around so spectacularly over the course of the year. But if the latest update from RCL is anything to go by, there may be more tricky updates to come from Tiger Brands. Don't forget Premier, the b usiness inside Brait that was meant to be unbundled in a separate listing before that transaction was pulled from the market. If the bakery business at RCL is struggling because of input costs and load shedding, why would it be different at competitors?
Speaking of look-through analysis, the updates from retailers about the strength of consumer demand over Black Friday and the festive season should've triggered a thought for me about a company like Super Group. The logistics business is flying, with the supply chain costs for retailers landing as revenue in Super Group's world. I missed that link, sadly.
The other updates in Ghost Bites this morning include Anglo American, Anglo American Platinum and Kumba Iron Ore.
Get fully up to date by reading Ghost Bites>>>
And before we move into a new week, make sure you've listened to Ghost Wrap for the most important updates from the prior week, brought to you by Mazars. There will be a brand-new episode on Monday, so add it to your favourite podcast player! Find this week's episode here>>>
The central banks have played their cards
The Fed, the ECB and the BoE have all acted this week, hiking rates in efforts to curb inflation. The euro and pound were weaker in the aftermath of these announcements, an interesting outcome that suggests a reset after all the central banks have now put their cards on the table. TreasuryONE highlights that the rand continues to benefit from risk-on sentiment, breaking below R17.00 to test the lower R16.90 levels.
Emerging markets were strong across the board.
How do you make your business investable?
In Episode 110 of Magic Markets, Jonti Osher and Brent Blankfield of Westbrooke Alternative Asset Management joined us to discuss how they assess companies for investment. This is a fantastic show for entrepreneurs and anyone interested in how the "capital stack" of a company is put together. We explored some really important investment concepts and I highly recommend that you give it a listen>>>
DealMakers is back!
After a slow start to the year for corporate activity, the team from DealMakers is back with the Friday summaries that help you stay on top of corporate finance news in the market. You can make sure you caught all the M&A activity and corporate finance activity locally. You can also read about how ESG considerations can be harnessed in M&A transactions in this article from the team at CDH.
Have a lovely weekend, Ghosties.
PS: if your tax-free returns have ghosted you this year, then read this article by Fedgroup Investments>>>
