Discovery, the Great Disruptor, again proves why it’s a cornerstone for any long term investment portfolio

It’s well known in Johannesburg that the smartest kids have a straight choice between joining Discovery, the locally-based financial services group, or Glencore, the global resources giant run by Joburger Ivan Glasenberg. Both groups put a premium on intellect and an ability to embrace complexity. But while Glencore is already established in its field as … Read more

Mike Wylie

Construction blue chip WBHO is coming out of its profit trough, attracting smart money

Investors really liked WBHO’s 2013 financial year results. Its share price picked up 4% after chairman Mike Wylie outlined how the fall in profit margins are now in a trough from which a significant recovery is likely. He said it’s been “a long, long time” since the group’s attributable profits were just 2.9% of turnover. … Read more

Dave King’s first interview after his R706m settlement with SA Revenue Services

Over the past 10 years, serial entrepreneur Dave King and SA Revenue Services have traded insults, publicly and privately. They also flirted with settlements a couple of times – including once when King claimed to have a signed agreement but SARS said the official who concluded it was not entitled – and was duly suspended. … Read more

Joffe: Bidvest has war chest of over R14bn, twinkle in his eye when mentioning Natie Kirsh and Jetro

Brian Joffe is the closest thing South Africa has to Berkshire Hathaway’s Warren Buffett. In a quarter century, Joffe has built Bidvest from scratch into an SA-headquartered global conglomerate with revenues exceeding R150bn and EBITDA of almost R10bn. His genius, like Buffett’s, lies in the ability to efficiently allocate capital. This is part of the … Read more

Advtech is double the size with 5 times the profit, but only worth half as much as competitor Curro. Why?

Jannie Mouton’s aggressively expanding education business Curro must be the bane of Advtech CEO Frank Thompson’s life. Investors inevitable compare the two private education companies against each other. Advtech, the more established player, generated revenue if R881m and taxed profit of R72m in the six months to end June. Curro is much smaller – revenue … Read more