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Good Morning Voornaam,

Coal miner Thungela was clearly the talk of the town yesterday, with great results and a whopping dividend of R60 per share. This dividend is nearly three times higher than the price Thungela traded at just after the Anglo American unbundling! The story of value creation for Thungela shareholders is well known in the market.

Another story that is well known is the incompetence of Transnet Freight Rail, which has severely impacted our coal and other exports at a critical time. Thungela has lowered full-year guidance based on Transnet's inability to provide a reliable rail service. Thungela may even tell them to truck off entirely, with tests underway to assess the viability of trucking coal volumes to ports instead of using the trains. That's probably not good news for our roads or for motorists who just love getting stuck behind a row of trucks while on a roadtrip.

Ghost Bites deals with this news along with financial updates from the likes of Absa and Spur. I've also included some of the key points from an Mpact media statement over the weekend in response to the inflammatory announcement released by Caxton on Friday.

Before we move on, it's been great to see the registrations flying in for the webinar this Thursday with bizval, a company that I have co-founded. The goal at bizval is to give founders a tool to value their companies at an affordable rate, as professional services fees are usually far beyond the reach of most companies. On Thursday at 12pm, we will be explaining why valuations are an art and an science, with plenty of time set aside for Q&A. Find out more and register at this link.

Reading list:

Ghost Global brings you the latest on Disney, Rivian, Unity and Coinbase - a company that has given me endless "I told you so" opportunities.

In collaboration with Who Owns Whom, Ghost Mail readers can get 40% off on industry reports like thi s one on the management consulting and business advisory industry.

Podcasts:

Ghost Stories Episode 3 is 64 minutes of pure awesomeness with Carel Nolte of EasyEquities, in which we unpacked insights from the platform's data on its investors. You don't want to miss this!

Magic Markets Episode 88 is a review of the growth stocks picked by Justine Brophy of AnBro Capital Investments in Episode 80 - they've all done very nicely and we use this opportunity to unpack why.

Daily market wrap with TreasuryONE:

The dollar has recovered some of last week's losses as risk-off sentiment weakened based on poor Chinese economic data. A rate cut from the second largest economy led to the dollar trading firmer. The rand flirted with the R16.40 handle for most of the afternoon. The rand could remain on the front foot ahead of the Fed minutes on Wednesday.

Commodities had a rough start to the week, with platinum and palladium both down 4% for the day. Copper fell below $8,000 and traded 1.5% lower. Increased output from Iran led to Brent Crude dropping by nearly $6 on the day before recovering slightly to trade at $94 per barrel.

Have a lovely Tuesday!

Ghost Bites Vol 69 (22)

Thungela's results and a R60 dividend set tongues wagging on Monday. Absa, Spur and others released results. Sappi has made some heavy-hitting executive appointments.

Ghost Global (Disney | Rivian | Unity | Coinbase)

Ghost Grad Karel Zowitsky decided to focus on Disney, Rivian, Unity and Coinbase this week. Just the chart of Coinbase vs. bitcoin makes it worth a read!

Webinar: demystifying the art and science of valuations

As one of the founders of bizval, I'm thrilled to invite you to a free webinar this Thursday to understand more about the art and science of valuations.

Report: The Management Consulting and Business Advisory industry

Although the management consulting industry has found itself at the heart of the State Capture catastrophe, there is great demand for these services and many great people delivering them. Ghost Mail readers can enjoy a 40% discount on Who Owns Whom resear

Ghost Stories Ep3: Carel Nolte (EasyEquities)

In Episode 3 of Ghost Stories, Carel Nolte joins me to discuss insights from the data on investor behaviour on the EasyEquities platform.

Listen Now

Ep88: Growth is for stock pickers

Justine Brophy from AnBro Capital Investments joins us to give feedback on the stocks discussed in Ep 80. Those choices prove that this truly is a stock picker's market!

Listen Now

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