Alec Hogg: Tesla profits break $1bn

The monthly webinar updating the BizNews Share portfolio, at noon today, has been well timed. When we acquire positions, the average holding period for stocks is "forever" – except when fundamentals change. Should that happen, it's best to act speedily. I'm guilty of not doing so. Months ago, it was already clear there was a change in Beijing's approach to towards its major companies. This is a critical issue for South African investors given the price of the JSE's dominant stocks (Naspers/Prosus) are based on the performance of their holding in Chinese internet group Tencent. This morning's piece from our partners at The Wall Street Journal, strips away the veneer to show Beijing's true intentions. After dropping 7.7% yesterday, Tencent is leading Hong Kong tech stocks still lower this morning, falling another 5%.

In SA, after silently watching the ANC take the country ever closer to disaster, rational citizens are increasingly finding their voice. Last week's Open Letter to SA president Cyril Ramaphosa which brilliantly articulated forgotten steps on this downward path, unleashed a flood of support. Apologies for yesterday's bad link to the video – here's the correct one. The author, a BizNews community member assuming the nom de plume Niemöller, has produced a superb follow up. It's on the site this morning.

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