Daily Insider: Buying into private investor favourites paying off for punters – for now

START YOUR MORNING BY LISTENING TO TODAY’S BIZNEWS BREAKFAST BRIEFING PODCAST – Private investors’ favourite shares keep rolling; Pound drops as UK raises rates most in 27 years, frets about stagflation; US unemployment claims hit 6m high.

(If you’re struggling to access BBB via Spotify or iTunes, an audio-only version is also available on the BizNewsTV channel on YouTube).

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Private investor favourites paying off for punters – for now 

In my monthly interview yesterday with Corion’s David Bacher (see below) he warned that compared with the professionals, private investors have a poor record in calling markets. When they buy big, it’s usually a signal for the pros to sell. 

That’s relevant commentary right now as everyone tries to make sense of July’s big rebound in share prices (Nasdaq +12.5%; S&P +9%) after the worst first half of the year since the 1930s (Nasdaq -30%; S&P – 20%). The surge was driven by individuals, not institutions. 

Last month, private investors in America – the stock market which drives all others – climbed into stocks more aggressively than at any other time since 2014. Their support continued into the first week of this month with three of their favourites – Tesla, Amazon and Uber – continuing to gain on positive news flow. 

Will it end in tears? Or will private investors buck their poor historic record and show they’re better informed than ever before? Time will tell. But for now, after a bumpy few months, those following the BizNews model portfolios are enjoying the ride. 

WATCH: Successful entrepreneur turned political leader Herman Mashaba is hard at work building structures and putting together the personnel to make Action SA a major force in South Africa’s 2024 National Election. The party has appointed provincial leaders in six of the country’s nine provinces and promises to fill the other three posts by yearend. Mashaba says results of the three by-elections it has contested since its surprising strong showing in the November 2021 Local Elections support the assertion that his party is gathering momentum. During this interview with Alec Hogg of Biznews, the unlikely politician explains his approach to other political parties that are likely to be allies in ruling coalitions and shares how he sees the transformation of SA’s political landscape after the ANC’s expected loss of power in the 2024’s National Election.

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