The world is changing fast and to keep up you need local knowledge with global context.
While the American economy was under pressure and its Quantitative Easing policy pumped money into the global economy faster than it could be spent, all was well with Emerging Market currencies like the Rand. Forex desk jockeys in London and New York borrowed greenbacks at low interest rates to reinvest them in Emerging Market countries … Read more
If you have ever travelled along a road that meanders alongside a river, you will find that occasionally the road must divert away from the river, perhaps because of the terrain. However, eventually the road reverts back to its position parallel to the river. We can speak of the road and the river as having a correlated relationship.
When the Financial Times of London gets its teeth into a subject, you can be sure the result will be of the highest quality. In this brilliant analysis, two of the newspaper’s mining writers take a close look at what they see as the ending of the iron ore supercycle. The implication for most diversified … Read more
By Craig Martin* The market seemed to put pressure on Capitec Bank Holdings Limited (CPI) share price immediately after African Bank’s (ABIL) failure. However, as Capitec responded to the allegations that it was similar to ABIL, the market seemed to swallow their PR efforts and the share price recovered nicely. Let’s be frank, management of … Read more
By Craig Martin JSE listed, Times Media Group Limited (TMG) released results earlier this week (Tuesday 24th) which were exceptionally good, seeing profit turn up to R225m from a loss of R52m a year earlier. However, instead of going out to purchase the share directly, a cheaper entry can be found by purchasing Alt-X listed, … Read more
By Craig Martin Considering both the global and local economic landscape investors in the JSE would be forgiven for being somewhat cautious. The dilemma is that if the US economic recovery continues, and Europe continues to pump money into the markets, then equities might continue their run. Is it therefore possible to seek outperformance without … Read more
Chief executives are naturally optimistic. They need to be to shrug off challenges and devise new ways of adding value for shareholders. But sometimes even the greatest optimists feel compelled to call a halt to irrational exuberance (courtesy Alan Greenspan) as Peter Armitage, CEO of today’s new listing Anchor Capital, did in this interview. The … Read more