Simon Shares
Simon Shares- Local CPI 7.1% for March up from 7.0% in February. Expected was 6.9%. Core inflation 5.2% vs expectations of 5.1%.
- Rates higher for longer.
- Reviewing Minister Pravin Gordhan’s portfolio. Too many stocks, why not more ETFs?
- Platinum at all-time highs in rands. This as it trades at more than 50% off the all-time US$ highs from 2008.
- Still long all my index trades.
Time to sell Capitec* (JSE code: CPI) as results show them as ex-growth?
- Return in Equity (RoE) 26%
- Cost-to-income (CTI) 39%.
- Impairments +80% and worrying the market
But my worry is it is priced +2x valuations of the other four big banks and it is now largely a mature bank. Sure low cost base, but I do not think it deserves that high valuation so am likely exiting after holding since 2009.
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Thursdays are all about hard-core investing and trading with Simon Brown’s famous JSE Direct podcast. JSE Direct started life on ClassicFM in July 2008 and became a podcast in 2011. Every week Simon shares his views on the state of global economies, individual shares and events moving markets.
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