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Good Morning Voornaam,

You're clearly a student of business, otherwise you wouldn't be here. If you're curious about the streaming and content industry, you'll absolutely love this week's Magic Markets Premium show on Comcast. Give the platform a try for just R99/month with no annual commitment, or R990/year and save money. With nearly 70 research reports in the library, there is just so much to learn>>>

What do Murray & Roberts, Aspen, Cashbuild, Caxton & CTP, Investec Property Fund, Woolworths, MultiChoice and Sasfin have in common? They all feature on this week's Ghost Wrap podcast, your whirlwind summary of JSE news brought to you by Mazars. Find it here>>>

Lying in limbo

Royal Bafokeng Platinum's results aren't good. End of story. With production issues clearly visible and the management team lamenting the current stalemate between Impala Platinum and Northam Platinum, these are dangerous times.

Imagine being a Royal Bafokeng executive at the moment. You can't really make any major capital allocation decisions. You can't take big opportunities to shareholders. It's very difficult to attract talent, a s anyone who has half a brain will be wondering about the sustainability of that new job. It's a disaster and one that just isn't being resolved, with the transaction stuck at the regulators. One way or another, this needs to change.

While looking at specific company updates, I must highlight Mustek's results. Although HEPS fell by 6.5%, I thought that was a pretty decent outcome given the tragic circumstances that the management team faced recently with the loss of the founder, as well as the post-pandemic slowdown in demand. There are far more "resilient" companies (supposedly) that have suffered greater drops in earnings recently.

For more details on these updates and the latest on Anglo American, Cognition, Fortress, JSE Limited, Momentum Metropolitan, Quilter, Putprop and Sea Harvest, Ghost Bites is where you need to be>>>

The rand is vulnerable

Although the rand held on to the important technical level of R18.55 on Tuesday, it tested R18.70 yesterday before drifting back below R18.60. The rand is vulnerable to say the least, with TreasuryONE highlighting Friday's non-farm payrolls and next week's CPI numbers as potential catalysts for more dollar strength.

Don't fall behind on these podcasts

In case you haven't gotten to them yet, try make time for:

Ghost Stories with Nico Katzke of Satrix, who joined me to discuss a wide variety of topics in the market in this show>>>
Magic Markets with the team from Westbrooke Alternative Asset Management in the UK, talking about private debt investing and real estate in this rising interest rate environment>>>

Have a lovely Thursday!

Ghost Bites (Anglo American | Cognition | Fortress | JSE Limited | Momentum Metropolitan | Mustek | Quilter | Putprop | Royal Bafokeng | Sea Harvest)

From diamonds to property funds and the dangers of M&A to the risks of having too much stock, it's all here in Ghost Bites today.

Unlock the Stock: Afrimat and Capital Appreciation

Unlock the Stock is back! In the fourteenth edition, we welcomed Afrimat and Capital Appreciation back to the platform for a presentation and Q&A. Unlock the Stock is brought to you by A2X.

Managing your downside risk with medical buildings - Brought to you by Orbvest

Traditionally, risk-averse investors tended to keep their money in cash, but in many countries the real after-tax return on cash is below the inflation rate, which means those cash holdings are actually losing value

Nedbank Group Limited annual results for the year ended 31 December 2022

Strong revenue growth enabled headline earnings growth of 20% to R14bn, an increase in ROE to 14% and a CET1 ratio of 14% You can view the full Results suite on the Nedbank Investor site >

Ghost Wrap 14 (Murray & Roberts | Aspen | Cashbuild | Caxton & CTP | Investec Property Fund | Woolworths | MultiChoice | Sasfin)

I explain the big moves in Murray & Roberts. Aspen and Woolworths, along with major strategic news from MultiChoice and the ManCo deal at Investec Property Fund. I also cover Cashbuild, Caxton & CTP and Sasfin. Ghost Wrap is brought to you by Mazars.

Listen Now

Magic Markets Ep114: Private Debt and Property in a Rising Rate Environment (with Westbrooke)

In this episode of Magic Markets, we welcomed Richard Asherson and James Lightbody to the show to discuss the US market and the conditions under which the Westbrooke Yield Plus fund is operating. There is much to learn!

Listen Now

Ghost Stories #7: Growth, Value and Markets (Nico Katzke, Head: Portfolio Solutions at Satrix)

Nico Katzke has an absolute wealth of experience and knowledge, which is why he is the Head of Portfolio Solutions at Satrix. He joined me to talk about, well, almost everything!

Listen Now

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