Who Sold in May?

  Market Scorecard After their long weekend, US stocks had a very strong start on Tuesday. The S&P 500 broke through the 3 000 mark for the first time since early March. Helping sentiment is Jamie Dimon, the JP Morgan CEO, saying that there could be a fairly rapid recovery. In the last hour of … Continue reading Who Sold in May?

Iranian Headwind

  Market Scorecard Yesterday Nedbank released their Full Year numbers, which amongst other things showed a positive contribution from Ecobank, their West Africa subsidiary. Rewinding 12 months though, Ecobank cost the group R975 million, where, in the current financial year it gave them a profit of R375 million. As an investor it is tough to … Continue reading Iranian Headwind

Reading GDP

  To market to market to buy a fat pig. To go with the new warmer season, the season of new life, our GDP read yesterday showed the economy has green shoots again. Hello growth. Goodbye recession. The headline read which is a quarter on quarter, seasonally adjusted and then annualized number (phew take a … Continue reading Reading GDP

Howzit Recession

"So what next? More debt to GDP (as a result of lower GDP and more borrowing) and unfortunately less spend means lower tax collections. Which means lower revenues. Which leads to lower government spend. The other unfortunate part is, as Michael pointed out whilst he was listening to the wireless, is that radio stations are … Continue reading Howzit Recession