Popular podcast Ghost Wrap has a new episode, covering eight company updates in as many minutes. Brought to you by Mazars, this is the stuff you really need to know about Murray & Roberts, Aspen, Cashbuild, Caxton & CTP, Investec Property Fund, Woolworths, MultiChoice and Sasfin. Enjoy it here>>>

Where did all the boets go?

I lived in Fourways for a while, so you'll have to forgive my boet references. I find this particular segment of humanity highly entertaining, though I don't hold shares in Brait as the owner of Virgin Active. After a 6.2% rally on Friday, I'm jealous of those who do! Those are gains that even the training-for-H2O-brotherrrrr crowd would be proud of.

It appears as though some of the boets never returned after the pandemic, along with other gym users who range from swimming enthusiasts to spinning class athletes and people who are lying to themselves about their Discovery Vitality Status ambitions. Virgin Active's membership base has reached 86% of 2019 levels. When you consider the operating leverage in the business (think of the fixed costs of a gym), that's still a significant knock to profitability.

I don't think Brait's rally had anything to do with Virgin Active. It was most likely driven by the news that the Premier IPO could be back on the table after Brait was approached by a group of interested investors.

For those details, along with the latest on African Media Entertainment, MTN, Premier Fishing and Brands as well as Sun International, read Ghost Bites here>>>

Other stuff you should check out

There is something for everyone here:

• Listen to Nico Katzke (Head of Portfolio Solutions at Satrix) talk about a variety of market concepts on the Ghost Stories podcast, ranging from growth vs. value through to the way that gold is behaving.
• In the most recent edition of Unlock the Stock, Afrimat and Capital Appreciation were in attendance to give presentations and answer questions. Brought to you by A2X, this is a terrific way to do your own research on these stocks.
• Speaking of research, Barry Dumas of Trive South Africa weighs in on why research is important for retail investors.
• For founders thinking of selling a business, the recent bizval webinar is a wonderful source of insights into the perils of the due dilige nce and documentation process. This is an invaluable webinar recording for anyone looking to understand more about M&A.
• If you are looking for an alternative investment opportunity with an offshore flavour, then the latest update from OrbVest on its US medical real estate portfolio might be of interest.

US data you may not have heard of

The "ISM Services" data came out for February and it's entirely possible that you've never heard of this data release. TreasuryONE notes that it covers a number of services in the US, including categories like dining and paid vacations. Despite a knock to consumer confidence, this data beat expectations and that means growth in services.

The dollar was given a boost by this data release, with a peak rate of 5% for the two-year yield not seeming farfetched anymore. The market is in line with the "higher for longer" sentiment.

With the rift growing between Saudi Arabia and the UAE, WTI Crude Oil came under pressure.

The rand ended the week at a better level than at the start, yet we are still way off January levels.

Learn about private debt in the UK

In the latest Magic Markets episode, the team from Westbrooke Alternativ e Asset Management in the UK joined us to talk about private debt in the current environment and especially the impact on real estate investments. This is a great resource for anyone who wants to understand more about property investing and deal structuring. Find it here>>>

Have a great Monday!