Quick links: -
The WeBuyCars pre-listing statement is finally here! The timing is excellent, with the company's management team joining Unlock the Stock this Thursday. For the abridged pre-listing statement and details on how to sign up for the event, click here>>> -
Aside from WeBuyCars, you can get the latest on Attacq, Brait, British American Tobacco, Capitec, Homechoice, Hyprop, MC Mining, Old Mutual and Truworths in Ghost Bites, brought to you by Fedgroup. -
Interested in learning more about private credit in the US market? Harris Gorre of Grovepoint Investment Management LLP brings us an excellent piece on how to navigate the US private debt market and take advantage of the opportunities it brings. Read it here>>> -
Are boycotts of badly behaved businesses effective, or just a waste of time? Dominique Olivier shares her views on whether consumer activism actually works, with Nestle as a prime example. Read this great piece here>>> -
Investec has launched the Investec Nikkei 225 Autocall, a structured product that references the Japanese market. You can get all the details in this Ghost Stories podcast with Brian McMillan. -
There's a brand new episode of the Ghost Wrap podcast thanks to Mazars, which means you need just a few minutes to get the latest on Mustek, Curro, Sea Harvest and Quilter - available here. -
Also from Satrix, get a very helpful overview of recent index performance metrics and trends in the company's March newsletter, republished on the Ghost Mail website here. -
A brand new episode of the Magic Markets podcast gives you the latest on Domino's Pizza and Monster Beverage.
Events: -
With much excitement around this unbundling and the opportunities it could bring, get into the driver's seat for WeBuyCars on Unlock the Stock. Don't miss this opportunity to engage with the management team! You simply need to register for free for the session on Thursday 14th March at 12pm at this link>>>
|
|---|
|
|---|
LISTEN: The Investec Nikkei 225 Autocall
with Brian McMillan of Investec |
|---|
|
|---|
Brian McMillan of Structured Products at Investec talked to me about the Investec Nikkei 225 Autocall.
It offers exposure to the Nikkei 225 index over a period of up to five years with an enhanced return of up to 17% per annum in ZAR or 11.5% per annum in USD. Importantly, there is 100% capital protection provided the index does not drop by more than 30%.
Listen to this podcast to find out more. |
|---|
| |
|---|
READ: Private credit - the bold "bank heist"
(by Harris Gorre, Grovepoint Investment Management LLP) |
|---|
|
|---|
The US market has seen substantial growth in the private credit market. But what is the right approach to investing in this space?
Harris Gorre of Grovepoint Investment Management walks you through his strategy in this article. |
|---|
| |
|---|
READ: Bad business and the bother with boycotts
(by Dominique Olivier) |
|---|
|
|---|
Using Nestle as an excellent example, Dominique Olivier delves into whether consumer activism actually works.
Are boycotts effective, or do they just make people feel better? Find out here. |
|---|
| |
|---|
Local company news:
Ghost Bites is brought to you by Fedgroup.
WeBuyCars ended the day yesterday with the release of its pre-listing statement over SENS. This is always a big moment for any company and even for the market at large, as new listings on the JSE are as rare as a low mileage Honda S2000. I once had one of those. Sigh.
Moving on from all my happy memories of 9,000rpm and the joy it brings, the timing for the release is excellent. You can read the abridged pre-listing statement here and you should definitely sign up for the Unlock the Stock event on Thursday. I'm a shareholder in Transaction Capital and that will make me a shareholder in WeBuyCars when it lists in April!
That certainly wasn't the only story on the market. Hyprop was my irritation for the day (as I'm also a shareholder there), with the company deciding not to pay an interim dividend and blaming it on the naira depreciation in Nigeria and - wait for it - uncertainty around Pick n Pay. Hyprop owns many of the best malls in the country. If Pick n Pay is going to be in trouble in those malls, then just shut our economy down.
Frankly, I think they overpaid for Table Bay Mall and these are convenient scapegoats. The market had much the same view on this news that I did, with the share price closing 4.2% lower.
For an interesting example of capital allocation, you can check out British American Tobacco's decision to reduce its stake in the Indian business and use that cash to buy back more shares in the group company. Many listed groups could take notes here.
Numbers also came in from Attacq, Homechoice and Old Mutual. On the deal front, Capitec is investing further internationally and MC Mining's second potential suitor evaporated as quickly as they appeared. Finally, Truworths has distanced itself from Truworths Zimbabwe's issues.
Get more details on these stories in Ghost Bites>>>
Check out the most recent episode of the Ghost Wrap podcast, made possible by Mazars. It takes just a few minutes to get the latest on Mustek, Curro, Sea Harvest and Quilter. Get it here>>>
|
|---|
|
|---|
READ: Satrix March 2024 newsletter with market trends |
|---|
|
|---|
| | Satrix's latest newsletter is a great overview of index performance up to the end of February, along with the trends responsible for the numbers.
There are also some fun stats about returns in leap years! Read it here. |
|---|
|
|---|
READ: Artificial Intelligence - fad or future, and how best to invest
(by Nico Katzke of Satrix) |
|---|
|
|---|
| | Nico Katzke of Satrix asks the real questions when it comes to AI, including the ones that few seem to be asking about its sustainability.
Get his views here. |
|---|
|
|---|
LISTEN: Magic Markets podcast |
|---|
|
|---|
In Episode 165 of Magic Markets, we looked at unhealthy choices for your body that are perhaps healthy additions to your portfolio.
I covered Domino's Pizza (including a look at South African peers) and Mohammed Nalla dealt with Monster Beverage - which also happens to be able to trace its roots to South Africa!
Magic Markets is a great way to expand your reach to global opportunities. Listen to the show here.
|
|---|
| |
|---|
Currencies, commodities and rates: TreasuryONE Market Update US core inflation came out higher than expected, yet the market reaction was mild. The market initially dismissed the data's potential to alter the three anticipated Fed rate cuts in 2024. In the aftermath though, the dollar strengthened and the rand was of course on the wrong end of that.
Gold also had a volatile day, trading between $2,050 and $2,080 with big jumps before and after the inflation release.
Key indicators: USD/ZAR R18.67; US 10-year 4.15%; Gold $2,159; Platinum ZAR R17,250; Brent Crude $82.41 |
|---|
|
|---|
LISTEN: The ETF product design process
with Siyabulela Nomoyi of Satrix |
|---|
|
|---|
| | Delving into the ETF product design process and with a discussion on the latest ETF product launches at Satrix, Siyabulela Nomoyi joined me for this insightful conversation.
Don't miss it! |
|---|
|
|---|
International company news:
Boeing is all over the headlines again, with a few of the US airlines having recently made comments about financial guidance and the impact of Boeing deliveries on growth. The CEO of Southwest Airlines perhaps said it best: "Boeing needs to become a better company..."
Quite.
Not only are the Boeing planes at the centre of a technical reliability crisis (with a few tragedies along the way), but the company is also struggling to meet delivery targets. At United Airlines, the CEO said that they will need to slow down on hiring pilots because of ongoing Boeing delays.
You would think that the winner here would be Airbus, yet the US groups in particular continue to show support for Boeing. At some point though, patriotism only gets you so far.
If you want to learn about companies like Boeing, then Magic Markets Premium is the perfect way to do it. For just R99/month, you get access to the entire research library that includes a new research report every week on a global stock. There's no minimum monthly commitment, either. Subscribe here and start learning>>> READ: Stability doesn't always have to come at a cost
with Fedgroup |
|---|
|
|---|
| | Fedgroup believes that a combination of fixed-term investments can do more than just withstand a battering. In fact, they cann offer solid returns as well.
Learn more here. |
|---|
|
|---|
You should expect us in your inbox Monday – Friday. If you don’t receive an email, please check your spam, or junk folder and “move us” into your primary inbox to ensure you get it each morning.
Disclaimer
Our content is intended to be used and must be used for informational purposes only. You must do your own analysis before executing any investments or strategic decisions, based on your own circumstances. We do not provide personalised recommendations or views as to whether an investment approach or corporate strategy is suited to the needs of a specific individual or entity. You should take independent financial advice from a suitably qualified individual who gives due regard to your personal circumstances.
Whilst every care is taken, we accept no responsibility or liability for any errors or omissions in any of our content.
The views, thoughts and opinions expressed in our content belong solely to the author or quoted individuals and/or entities, and not necessarily to the author's employer, organisation, committee or other group or individual, or any of our affiliates or brand partners. |
|---|
|
|---|
|
|
