BN Portfolio Update: Why we are swapping Lesaka for HCI; Google, Meta & Bitcoin views
In this month’s BizNews portfolio webinar, we announce a strategic change: the complete exit of Lesaka to fund a new position in Hosken Consolidated Investments (HCI). While Lesaka represents a bet on future earnings and complex acquisitions, HCI is currently the JSE’s "deepest value play," trading at a massive discount to its underlying assets. We break down the mathematics behind the switch, highlighting how HCI investors effectively get a "free option" on the massive Venus oil and gas field in Namibia, alongside a booming tourism portfolio through Southern Sun. The discussion also covers the stellar performance of Alphabet, a defense of Meta despite its recent dip, and a long-term perspective on Bitcoin’s volatility.
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