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Good Morning Voornaam,

If you're in the mood to learn this morning, then you're in the right place. Here are some options that need your earphones:

Ghost Wrap gives youmy views on 8 companies in just 8 minutes. The latest episode features Afrimat, AngloGold, Harmony Gold, Growthpoint, Mr Price, FirstRand, Standard Bank and Steinhoff. Ghost Wrap is brought to you by Mazars and you'll find it here>>>
Magic Markets brings you a way to learn more about balance sheet strategies and how these can impact the way the company operates and returns cash to shareholders. Find it here>>>
Unlock the Stock is your ticket to be an equity analyst for a day. Last week's event featured Attacq and Tharisa, brought to you by A2X. You'll find the recording here>>>

Defensive FMCG stocks do exist

You just need to know how to find them! Common belief is that grocery retailers and the like are highly defensive, but that isn't always the case.

We've covered PepsiCo before in Magic Markets Premium and we concluded that the product range is s trong enough to withstand inflation. It's interesting to see Trive South Africa's view on the company, as they've arrived at much the same conclusion that we did. Read about it here>>>

Takealoss and other Naspers/Prosus things

Remember that ridiculous cross-holding structure that the Naspers-Prosus group put in place a while ago? The one that the investment industry asked them very nicely not to do? Well, it will now be collapsed. The management team is very surprised that the market hated it, even though the market warned them of exactly that.

It seems to me like an attempt to sweep a bad set of numbers under the carpet. It certainly worked for the share price yesterday, as the discount in the share price is so vast that even a poor result is more than offset by any news of a simplification of the structure. The short-term tactic of selling down Tencent to buy back shares is fine, but what does this mean long term? We only need to look at Takealot and many, many other examples in the group to see that this team has allocated capital to all the wrong places.

Joining this update in Ghost Bites, we find news from Exxaro, Hyprop, Merafe, Murray & Roberts and Sephaku. Get it all here>>>

We made it below R18.50!

Despite the strong resistance level at R18.55, the rand's attempted coup of that level was far more successful than anything we saw in Russia. Our currency made it below the R18.50 mark yesterday, with all eyes now on Fed Chair Powell's speech later today. If the hawkish rhetoric continues, it could inject some strength back into the market.

For a more detailed view on the markets from TreasuryONE, you can watch their weekly video here>>>

Have a great day!

Ghost Bites (Exxaro | Hyprop | Merafe | Murray & Roberts | Naspers + Prosus | Sephaku)

Aside from the extraordinary events at Naspers and Prosus, there were important updates from the likes of Exxaro and Hyprop, amongst others.

PepsiCo: Quenching the Thirst for Stability in the Equity Market

Amid the rollercoaster ride of uncertainty in the equity market, is PepsiCo, Inc a refreshing oasis?

Unlock the Stock: Attacq and Tharisa

Brought to you by A2X, Unlock the Stock lets you wear an equity analyst hat and engage directly with management teams. Watch the recording of the event with Attacq and Tharisa here.

Ghost Wrap #30 (Afrimat | AngloGold | Harmony Gold | Growthpoint | Mr Price | FirstRand | Standard Bank | Steinhoff)

For the latest from Afrimat, AngloGold, Harmony Gold, Growthpoint, Mr Price, FirstRand, Standard Bank and Steinhoff in just 8 minutes, listen to Ghost Wrap (brought to you by Mazars).

Listen Now

Magic Markets Ep130: Capital Structure 101

We go back to basics this week, with a 20-minute show dealing with debt vs. equity, costs of funding and how this impacts dividends and buybacks.

Listen Now

bizval Podcast: Selling to Corporates (with Mark Davidson)

Mark Davidson has been on the "other side" of many transactions. He shares his insights to help founders have a greater chance of success when selling to corporate acquirers.

Listen Now

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