Teck take two

Good Morning Voornaam,

In my first appearance on The Money Show with Bruce Whitfield, I was invited to the Investment School segment to discuss a topic that is close to my heart: how to research stocks! It really was fun and I'm thrilled to share the podcast recording with you. Let me know in the comments if you think I should do another segment like this. You can find it here>>>

Remember to register for Unlock the Stock with Astoria Investments this Thursday at 12pm. Brought to you by A2X, you can learn about this listed investment holding company and its portfolio of mainly unlisted investment s. Attendance is free but you must register here>>>

If you find it tough to keep up with the news on the JSE, remember that the Ghost Wrap podcast is a weekly 8 - 10 minute summary of the most interesting stories from the prior week. Brought to you by Mazars, the latest episode features my views on Investec, CMH, Northam Platinum, Pick n Pay, EOH, Nampak, Murray & Roberts, Glencore and Rebosis. Listen to it here>>>

Glencor e swipes right. Again.

The first time that Glencore made a play for Canadian mining group Teck Resources, the response reminded me of my dating history in high school: short, sharp and firmly negative.

Having now licked its wounds, Glencore has returned with an amended deal proposal that might be more interesting to the Teck board. After all, cash proposals become progressively harder to ignore, as shareholders eventually put pressure on the board to treat the offer more seriously. The great irony of all this is that Glencore is arguably offering a better ESG solution than the current Teck restructuring would achieve. How's that for a surprising twist in this romantic story?

In other news, Alphamin has reported a record production quarter and a nice jump in the tin price certainly helped matters as well. Sibanye-Sti llwater has refinanced and increased its revolving debt facility, with ten international banks involved. I also have news for you from Grand Parade, PBT Group, Primeserv, Rex Trueform, Royal Bafokeng Platinum and Zeder.

Find all of these updates in Ghost Bites>>>

Put on your thinking cap

I pride myself on challenging you in Ghost Mail. The world of finance is absolutely fascinating and it can get extremely complex, which is why I enjoy bringing you a mix of relatively basic and more advanced content. The latest article from Nico Katzk e at Satrix is going to stretch you, but it's worth it.

Nico tackles a topic that is important for all investors: hedging rand exposure. He specifically looks at the cost of hedging in a balanced portfolio, considering whether hedging should be long term and strategic in nature, or short term and tactical.

I challenge you to really engage with this content and learn something from it. You'll find his work here>>>

Welcome back, liquidity

After the longest of long weekends, liquidity returned to the local currency market and the rand improved to R18.30 against the US Dollar as the market digested Friday's non-farm payroll numbers. TreasuryONE reminds us that US CPI will be out later today, with the market expecting a print of 5.2%. A higher print will surely hurt emerging market currencies, as it would encourage a hawkish approach by the Fed. The converse is also true.

Gold is still trading above $2,000 per ounce and the oil cut only interested markets initially, with oil trading at $84.00 per barrel for the past week.

If you need forex services as a business or an individual, remember to speak to TreasuryONE about your requirements.

$DEX and $STAAR

You probably don't recognise those stock tickers, do you? There's a wide world beyond the local market, which is why our focus in Magic Markets is mostly on global opportunities. Justine Brophy of AnBro Capital Investments joined us for Episode 119 to discuss two medical growth stocks that he has highlighted before: Dexcom and STAAR Surgical.

This is a lovely opportunity to recap the companies and learn more about how the team at AnBro thinks about investing. Remember, the right way to develop your own investing framework is to listen to as many different viewpoints as possible. You'll find the episode here>>>

With that, I wish you a magnificent Wednesday!

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