Market Scorecard Yesterday saw Glencore close down 8% due to a US investigation into money laundering. As it stands, there are no charges brought against the company, but I think due to Glencore's reputation, investors are being cautious. Before Glencore was Glencore, it was Marc Rich + Co. AG, which was known for not … Continue reading Amazon Delivers
To market to market to buy a fat pig. US stocks had another down day yesterday; I saw a tweet from a US market commentator saying "What is this weird looking crimson colour on my screen?". The current drawdown in the market seems to be driven by a drop in commodity markets. Market Scorecard. … Continue reading New Look Wants Its Old Look Back
"New Look was once valued (this time last year) at 34.8 billion Rand. By the first half of their financial year, the New Look value was 18.7 billion Rand. Around half. And now? I am afraid ..... 7 billion Rand." To market to market to buy a fat pig A stronger Rand held back … Continue reading Not a good Look
"The problem asset of the last 6 months has been New Look, where the valuation multiple has been decreased in combination with lower earnings. A double whammy on the carrying value of the asset! New Look has gone from their biggest asset to the number 3 position now." To market to market to buy … Continue reading There is a New Look to Brait”s Assets
"We have interim numbers out of Brait on Wednesday. These numbers were probably more highly anticipated than usual thanks to the fall out from Brexit and Brait having major assets in the UK. Given that Brait is an investment company, the figure that people want to see is the NAV number that management feel is … Continue reading Make Brait Great Again
"Brait has been a stock that has sucked serious wind lately. And by lately, I mean in the last three months. Up until Brexit. And then basically everything changed from there, check out the share price taking a couple of legs down post the Brexit vote and the subsequent rerating of their UK assets." … Continue reading Braixit
"There is little that you can do about the currency. There is nothing that you can do about the average British voter, even if 1.2 million of them suffer from voters remorse." To market to market to buy a fat pig Stocks sank yesterday in the city founded on the largest gold pile known … Continue reading Great Brait(ish) Pound
"In the falling away from the Darty deal, in which FNAC prevailed, Steinhoff owned so many shares and were bought out at the higher level. Meaning that shareholders extracted a pretty sizeable and unexpected gain. So why would that be considered "unlucky"? Anyhow, Darty is gone, the group are making a go for a smaller … Continue reading The Hoff pounding away!
"So why did stocks suddenly click into action? What changed? Stocks have been closely tracking oil prices, for some reason. Perhaps being viewed as a proxy for global growth. There have been and are worries around negative interest rates. And of course the Fed are standing still for now on rates. Oil prices however … Continue reading Protea and market fire!
"Byron went to the presentation, he was pretty impressed, the company brought all their company heads in an epic company presentation. The investment company has been exceptionally busy over the last year to year and a half, this period was especially busy. Having sold the Steinhoff shares, and other investments, having raised a lot … Continue reading Brait’s New Look