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Good Morning Voornaam,

Are you curious how to spot green flags in companies, rather than just red flags? These are the attributes that make a company attractive for long-term investment. This can range from having a coherent technology ecosystem and strategy through to having a great product and distribution network that just makes a lot of sense.

Together with Dominique Olivier and with reference to the Magic Markets Premium research library, we delved into two global examples of companies that have promising attributes. Read about them in Ghost Global here>>>

As we head towards the end of the week, make sure you didn't miss these:

The recording of the latest Unlock the Stock event featuring Capital Appreciation and Spear REIT is now available for you to watch, including the all-important Q&A sessions with both companies. Brought to you by A2X, you'll find it here>>>
This week's Magic Markets podcast focused on interest rates and how they impact equities in general and particularly banks. Listen to it here>>>
Ghost Wrap needs just 8 minutes of your time to update you on Richemont, ArcelorMittal, Pick n Pay, Truworths, Mr Price, Super Group, Northam Platinum and Vodacom. Brought to you by Mazars, you can enjoy it here>>>

Risk it for the biscuit - because consumers certainly do

When times are tough, comfort eating is clearly the preferred approach. We've seen it in PepsiCo on the international stage and now we've seen it locally in AVI: the snacking category is a powerful thing that can withstand hefty pricing increases. When you want a biscuit (or a packet of chips), it is what it is. The budget goes out the window. Despite the heroics in the snacking business, AVI certainly isn' t immune from bigger pressures.

We also saw numbers come out yesterday from AECI, Altron, British American Tobacco and De Beers, with the latter arguably starting to feel the pinch of lab-grown diamonds.

Of critical importance to the local market is the Naspers circular regarding the cross-holding structure. To make sure you don't miss it, the company placed the notice of the AGM in Ghost Mail.

On top of all this, we saw Advanced Health release a (very pretty) circular for the take-private transaction and RAC give an update on Goldrush's recent trading performance at the AGM. Finally, look out for an update from the ever-colourful Labat and its cannabis strategy.

All of this is available with just a sin gle click in Ghost Bites, your best way to make sense of SENS. Read it here>>>

25 basis points in the US - as expected

The Fed raised rates by 25 basis points in line with market expectations. TreasuryONE notes a comment by the Fed around assessing market data further, which leaves the door open for further hikes. Trading ahead of the announcement was lethargic, as the market waited for the news to break,

There was no real market reaction to thi s in the rand last night, trading at around R17.64. We will see what happens in days to come.

Have a great Thursday!

Ghost Bites (Advanced Health | AECI | Altron | AVI | British American Tobacco | De Beers (Anglo) | Labat | Naspers + Prosus | RAC)

Important numbers were released by the likes of AECI, Altron, AVI and British American Tobacco. Naspers released the cross-holding circular. Is De Beers suffering from lab-grown diamonds.

Naspers Notice of Annual General Meeting and Circular 2023

Distribution of Notice of the virtual Annual General Meeting and Circular

Ghost Global: Hunting for Green Flags

Red flags are tricky to spot. So are green flags, or reasons to invest in a company and believe in the long-term future. Here are two examples of green flags, using global case studies.

Unlock the Stock: Capital Appreciation and Spear REIT

Capital Appreciation and Spear REIT returned to the Unlock the Stock platform to update investors on the recent numbers and the strategic outlook.

Magic Markets Ep134: Rate Hikes, Banks and Consumers

To understand the impact of the rate cycle on general equities, banks and consumer businesses, you can enjoy this episode of Magic Markets.

Listen Now

Ghost Wrap #34 (Richemont | ArcelorMittal | Pick n Pay | Truworths | Mr Price | Super Group | Northam Platinum | Vodacom)

There was a bearish tone to many of the updates over the past week, particularly in businesses that are heavily impacted by load shedding. This includes retailers and industrial groups.

Listen Now

Ghost Stories #17: Investing with Impact (with Grant Field, CEO Fedgroup)

Grant Field, CEO of Fedgroup, joined me to talk about their impact investing platform and how this offers and exciting and accessible entry point into alternative assets. I highly recommend giving this a listen.

Listen Now

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