- Famous Brands* (JSE code: FBR) results were decent enough with the UK acquisition only adding a small bit to the bottom line. I have been buying in the low R130’s.
- An article on Moneyweb that strips out the top five expensive and heavy weighted stocks in the Top40 shows a historic PE of around 12.5x. In other words offering value and adding to my bullish thesis.
- Spar (JSE code: SPP) results show an operating margin squeeze down from 3% a year ago to 2.5% in these results. In part the offshore acquisitions but not a great sign.
- Sygnia (JSE code: SYG) results were flat. I expected at least some growth in HEPS but it was spent on new staff (via an acquisition) and marketing. We are still waiting for the details of the rights issue to fund the DB x-trackers purchase. For now I like the company but still think it is expensive.
- Property ETFs for dividends and the tax on the dividends explained.
- The JSE Power Hour video on investing while junk.
- Upcoming events;
* I hold ungeared positions.
When the best time to go offshore?
All the time. We can worry about the Rand and we can worry about valuations, but we’ll never get it right. I buy locally listed offshore ETFs every month (buying DBXWD) and move money into US$ every six months on schedule.
We Get Mail
- Suddenly Bitcoin ramps higher and everybody wants to know if they should buy it? Or maybe Ethereum or heck why not Dogecoin. I covered Bitcoin in a recent episode, more importantly is we only get excited when the price runs?
- Please can you explain some of the JSE specific rules on market cap indexing – i.e. how/why does AB Inbev get removed from the Top 40, will/how can it ever be included?
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