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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).
Catch up with the latest on BizNews.com
- Helen Zille calls ‘Hokaai’ on excessive SA optimism post-2024
- Bain’s walk of shame as Hain says it must ‘feel the pain’
- ActionSA’s Herman Mashaba on by-election results, ejecting the ANC in 2024
- 2024’s independent candidates will be the ‘rejects’ from political parties
- Sabotage just the latest of beleaguered Eskom’s problems
- Pretoria teenage swimming sensation Lara van Niekerk onto international stage
- Ugly underbelly of South Africa’s healthcare system exposed
- Best of BizNews #3: Could SA by some miracle dodge worst of Covid-19 curse?
- Best of BizNews #2 – Niemöller: The brutally honest Open Letter to Ramaphosa
- Big tech is the West’s surprise weapon in competition with Russia, China (Premium)
- Perfect Zille interview timing – DA wins “crucial” by-elections (Premium)
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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.
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Cyril Ramaphosa: The Audio Biography
Listen to the story of Cyril Ramaphosa's rise to presidential power, narrated by our very own Alec Hogg.