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Investors want answers: CFO Nazir Patel’s sudden departure to dominate MTN’s results presentation

13th August 201313th August 2013

MTN, which with a R365bn market cap is comfortably South Africa’s leading telecoms company, tomorrow releases interim results for the half year to end June. Investors are already aware from the group’s trading update that earnings will rise between 20% and 25%. So the profit number and even the dividend payment won’t be news. But … Read more

South African life assurance industry’s Hiroshima

30th April 201520th November 2012

December 14, 2005

Her face was one big snarl. Although dutifully recording my responses her whole look shouted out: who do you think you are, you upstart know-nothing? Actuaries, doctors, other people infinitely smarter that you have calculated our commission structures. Who are you to criticize them?

This was 1984, the year of Orwell’s Big Brother. The power of life offices was at its zenith. A time before Robin McGregor sold out to the Evil Empire, when he still railed about four groups controlling 80% of corporate South Africa. And how three of them were assurance companies.

Thinkpiece: What the Wealth Tax call means for South Africans

25th July 201320th November 2012

Warren E Buffett sure knows how to toss a cat among the pigeons. True to form, in August the chairman of Berkshire Hathaway wrote an op-ed headlined “Stop coddling the super rich” for America’s leading newspaper, The New York Times. It was a full frontal attack on a tax system that favours the wealthy.Buffett’s well-argued and entirely logical proposals have become the rallying call for “wealth tax” agitators around the world.Including here in Sunny South Africa.

What shares to buy with that Xmas bonus (2011)

6th November 2012

In December 20112, Robert K sent this email:

I am wanting to invest my bonus in some share but I am not 100% sure where to find value at the moment. I already have MPC, Curro (which has done well for me), Steinhoff and Old Mutual as well as Satrix Top 40 and Stanlib unit trusts.

Are there any shares you would recommend? I have been looking at AGL but they are very expensive although I do see value there.

The rise and fall of Sacoil

30th April 20156th November 2012

May 28, 2011

This article uncovers the way in which a predator feasted on over-optimistic small investors led by a hero to the punting class, Greg Blank.

In the share market, fact is sometimes stranger than fiction. Take the case of the JSE-listed oil exploration company SacOil Holdings, which in the past year rocketed from oblivion to stardom – but this week showed signs of falling back into obscurity.

Allan Gray, Gijima AST and The Law of Unintended Consequences

30th April 201514th April 2005

Just as well that before entering the birth canal, none of us know the hand we’ll be dealt. Some have the good fortune to find themselves surrounded by wealth, others are conceived by paupers. But no matter how one starts out, when it ends all we really possess is our reputation.