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Good morning Voornaam,

Mining sector updates are the SONA you really need.
Curro's growth expectations come back down to earth.
Snap Inc has, well, snapped. Again.
Dominique Olivier tells the Bumble story - and shows how good intentions don't always mean happy share price charts.
A brand new Magic Markets podcast updates you on Meta and Microsoft.
TreasuryONE on the rand breaching R19 and oil moving higher.

You can turn your tax into solar power with Futureneers this month, but you have to act quickly to take advantage of the Section 12BA opportunity. Find out more in this article>>>

Local company news:

I didn't bother watching SONA last night. I get the real SONA by reading SENS every day and summarising it for you in Ghost Bites. If there's no economic growth, there won't be enough tax revenue. This is a foreign concept to most pseudo-communist governments, but the facts are the facts.

Speaking of the facts, the mining industry tells you what is really going on out there. In case you only ever travel within the Western Cape and don't see it for yourself, you need to know that infrastructure is crumbling. Transnet is quickly becoming an Eskom-level mess (and isn't it amazing that load shedding is back strongly today?), with Anglo American as a perfect example of what that looks like to international investors. Kumba Iron Ore (an Anglo subsidiary) had to cut production this quarter because Transnet is too incompetent to rail the ore to the ports at a sufficient rate, whereas the Minas-Rio mine in Brazil delivered record quarterly volumes.

Not all BRICS are created equal, apparently.

At Curro, 15% of the schools are performing below expectations and have been impaired. The middle class is under such financial pressure that the schools aren't filling up at the expected rate. While perfectly reasonable questions can be asked about Curro's product and whether it resonates with customers, there's evidence all around us that the middle class is buckling under the pressure.

State of the Nation? More like a nation in a state. Reading Ghost Bites every day should make that pretty clear.

Today's edition is a very busy one, dealing with Anglo American, Anglo American Platinum, ArcelorMittal, British American Tobacco, Curro, Impala Platinum, KAL Group, Kumba Iron Ore, Mondi and MultiChoice.

Get all the details in Ghost Bites>>>

I'm pleased to report that DealMakers is back this week. Aside from the shortlisted deals for the prestigious deal of the year award, DealMakers also brings you summaries of the week's activity in local M&A and local corporate finance.

International company news:

Thanks to data and automation specialists B2IT, Magic Markets is all about "big tech" in the brand new show. Meta and Microsoft are both in the Magnificent Seven, with the latter having been criminally overlooked in the FAANG era. With eye-watering share price movements over the past year, we dug into the latest results from these giants in this podcast>>>

For a fun reminder on just how wild the US market can be, I've included a chart below of Snap (owner of Snapchat) and Pinterest (self-explanatory). These are examples of the tier-two social media businesses that you can buy on the market. Life hasn't been easy for them in the post-pandemic era, both down violently from their highs (especially Snap).

As the 12-month chart shows, the share prices can dislocate severely based on earnings. Snap has, well, snapped.

Have a great day!

READ: The Bumble story: if you need it, build it
(by Dominique Olivier)

Whitney Wolfe Herd went off and built the the business that she wished existed in this world. There's a lot to be said for that approach, even if the share price story hasn't worked out well. Dominique Olivier digs into the story of Bumble.

Learn about Bumble and how it differs from other dating apps

LISTEN: The 2024 kick-off with Duma Mxenge of Satrix

With a great mix of practical personal finance and investing concepts, this podcast with Duma Mxenge of Satrix will get you on the right path for 2024. Don't miss it!

Listen to the Ghost Stories podcast here (42 minutes long)

Currencies, commodities and rates: TreasuryONE Market Update

US Treasury Yields have been moving higher, with geopolitical tensions in the Middle East as just one of the driving factors. The US 10-year is now at 4.15%.

The US dollar is still seen as a safe haven, which gives strength to the US dollar. The same tensions have also given Brent Crude a boost, trading at $81.45 this morning - and that combination doesn't bode well for South African consumers, with the rand at R18.97 this morning after breaching R19.00 yesterday.

As a Ghost Mail reader, you have a wonderful early bird opportunity to register for the 2024 post-budget panel discussion hosted by TreasuryONE, Econometrix and ETM Analytics. I absolutely cannot recommend this enough and I will also be attending to learn from the panel. Get it in your diaries now already by registering at this link>>>

LISTEN: Magic Markets podcast

In Episode 161 of Magic Markets, we dug into Meta and Microsoft as two of the most important names in the Magnificent Seven growth stocks that continue to dominate headlines (and portfolios for that matter). What can we learn from recent earnings updates and the share price trends? Find out in this podcast, brought to you by international data and automation specialists B2IT.

Listen to Magic Markets Episode 161 here (22 minutes long)

READ: Mazars announces record global revenues

Mazars has announced record global revenue, building on its global ambition. Find out more in this article from the group that makes the Ghost Wrap podcast possible.

Learn about Mazars' impressive results in the past year

READ: Satrix launches Satrix JSE Global Equity ETF

Satrix is releasing a new product that gives a higher weighting to local companies with international listings. In other words: more of an offshore component. Find out more in this article.

Learn about this new product from Satrix in this article

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