In this previous article in October, I flagged that there’s a new sheriff in town at Adcorp. Highly respected CEO Phil Roux has been making good on his promise to turn Adcorp around. I’m going to once again quote from an interview he did with Giulietta Talevi of Financial Mail in July: “I’ve identified eight value drivers and I’m going …
View PostIn this previous article in October, I flagged that there’s a new sheriff in town at Adcorp. Highly respected CEO Phil Roux has been making good on his promise to turn Adcorp around. I’m going to once again quote from an interview he did with Giulietta Talevi of Financial Mail in July: “I’ve identified eight value drivers and I’m going …
View PostIt must take incredible confidence to undertake a hospitality stock IPO during a global pandemic that has grounded nearly all travel, but that is exactly what Airbnb is about to do. The peer-to-peer home-sharing company recently released its prospectus for an initial public offering (IPO), giving us our first in-depth look at its operations. A specific date for the IPO …
View PostIt must take incredible confidence to undertake a hospitality stock IPO during a global pandemic that has grounded nearly all travel, but that is exactly what Airbnb is about to do. The peer-to-peer home-sharing company recently released its prospectus for an initial public offering (IPO), giving us our first in-depth look at its operations. A specific date for the IPO …
View PostSirius Real Estate is one of the better-named companies on the JSE. Not to be confused with the Harry Potter character of the same name, Sirius was established in 2007 and initially listed on the AIM, the development board in London. An AltX listing was added in 2014 (the JSE’s development board) before the listing moved to the main board …
View PostTesla will be admitted to the S&P500 and will immediately jump into a top ten spot on the index based on a market capitalisation that appears to be marching towards $500bn. The Index Committee was suspicious back in September when Tesla achieved profitability over four consecutive quarters, electing not to include Tesla in the index despite the criteria being met. …
View PostCapitalism. It’s a double-edged sword. On one hand, people are rewarded for being innovative and hard-working, finding new solutions and improving our productivity, health and wealth as a species. On the other hand, greed and destructive competition often come into play, potentially enriching only a handful of people at the expense of others. This is why regulation is important. As …
View PostDebt. It’s like that “rough” close friend you had at school who was great to have in your corner during a fight, but who would ruin your chances of being made a prefect. Used correctly, debt is incredibly powerful. It can be the difference between success and failure. Used incorrectly, it can also be the difference between success and failure. …
View PostShareholder activists are interesting people. They use small stakes in companies to try and leverage meaningful changes, through the provisions of the Companies Act and sometimes the JSE Listings Requirements. Common focus areas include: ESG metrics (like the environmental pressure put on Sasol recently) Questions over management performance (like Rainbow Chicken) Disposals of assets at low prices (like Zeder’s disposal …
View PostMohammed Nalla is one of the most highly respected macroeconomic market analysts to emerge from South Africa. He’s launched Moe-Knows, a macroeconomics knowledge platform. Now living in Canada, he layers a global perspective on top of his emerging markets expertise. Together, The Finance Ghost and Moe-Knows have multiple years of experience across practically every asset class. In Magic Markets, we …
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