South Africa’s “go to” store, SPAR posted their half year results to March 31, 2021 a few days ago. The results were fair and despite ongoing uncertainty around the effects of the COVID 19 Pandemic, The SPAR Group (SGRP) declared an interim gross cash dividend of 280 cents per share.

The above and further comments are based on the article published on Moneyweb on the 25th of May  Switzerland and Ireland shine for Spar, but Southern African growth slows - Moneyweb

In the article it states that The SPAR Group, which owns grocery and wholesale businesses in South Africa, several other African Countries and also in Switzerland, Poland and Ireland have posted a positive set of interim results for the half-year ending March 31, 2021.

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Some old time investors say that one should always hold shares in banks, casinos and in companies that produce booze. These are companies that always make money, come rain or shine.

This article is about 2 alcoholic beverage producers, one onshore and the other offshore.

I recently found this article published on Moneyweb on the 18th of May  Heineken considers takeover of brewer Distell - Moneyweb

In the article it states that Heineken, the second biggest beer producer in the world, is “in talks” about taking over African wine and spirits maker, Distell. Distell, as the article reports, “is considering its options”.

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According to this article published on FIN24 on the 10th of May 2021  Clicks to buy Pick n Pay pharmacies | Fin24 ( Clicks is going to buy the Pick n Pay Pharmacies.

In the article the Pick n Pay Chief Operating Officer, Adrian Naudé said that the future key objectives of Pick n Pay do not include the development of a Pharmacy Division.

Clicks has the largest retail pharmacy network in South Africa and with this deal Clicks will increase its footprint to 632 pharmacies and in contrast to Pick n Pay’s strategy Clicks claim that 50% of the country’s population live within 6 kilometers of a Clicks Pharmacy and with the Pick n Pay deal, Clicks aims to improve this statistic according to the Clicks CEO Vikesh Ramsunder, as quoted in the above-mentioned article.

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Facebook (FB) is a company with an interesting pedigree. Started by a computer whiz kid, Mark Zuckerberg, who created a social media platform that seems to be on everybody’s device. My 15-year-old son keeps asking me why I use FB, I respond to him that I use FB because “everybody is on FB!” His response to me is something along the lines of “No dad, just you boomers are on FB!”.

As a business though, FB is a phenomenal company, it is a worldwide brand, and it is one of
the “FANMAGS” (Facebook, Amazon, Netflix, Apple, Google) which influence the direction
of the Tech heavy NASDAQ index.

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Netflix over the past few years has become part of every avid TV viewer’s life. Many of us are subscribers and we find that the content is just so much better than our previous satellite TV content provider. In addition, anything on Netflix is available on demand when we want it, no more waiting for our next favourite series episode to be aired in accordance with a prescribed schedule. With this convenience arrived a new phenomenon known as “binge watching” where some of us would do nothing on a weekend but binge watch through a whole season of a series. I have even heard of someone taking leave to watch all the seasons of a series!

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According to this article on Moneyweb sun-international-pummelled-to-r1bn-headline-loss  Sun International (SUI) has posted a R1 billion headline loss in its latest set of results.

Yes, the reasons for this are rather obvious. The Pandemic hit and the long lockdown and alcohol prohibitions that came with it, hurt the leisure and conferencing industry hard. Add to that the meeting technology that applications like ZOOM and Microsoft Teams make it look as if the conference industry will never recover to the levels it was pre-lockdown.

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There are an increasing number of individuals looking to expatriate their local funds (in rands) to foreign currency (US dollars, UK pounds, euros etc). This is for a host of reasons such as:

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Income funds have been around for quite a while and subjectively became part of an investor’s tool kit. Several investors rope in income funds with a goal of capital preservation and steady capital growth. Arguably, the inclusion of an income fund brings diversification, which is instrumental in the overall growth of the investment. This article seeks to lay out the underlying reasons why an income fund is necessary for your investment objective.

First and foremost, an income fund is universally defined as a conservatively managed unit trust or exchange-traded fund (ETF) that places emphasis upon current income as opposed to capital gains. In general, income funds have a huge holding in fixed income instruments, preferred stocks as well as money market instruments and a moderate holding in dividend-paying stocks. However, the structure of each fund varies based on the underlying investment objective of the fund manager.

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The Global & Local Asset Management Team have been completely fascinated with the events occurring throughout this COVID-19 Pandemic.

Yes, we are all nerds with a keen interest in statistics!

Occasionally we come across something topics that grab our attention which send the team into analytical mode to investigate and research more.

A few weeks ago, our Chief Investment Officer, Carl Isernhinke approached me about an article he read about online traders vs professional investors and decided this was a topic he wanted to learn more about.

I left Carl alone on this, knowing that he would bring this to my attention once he was ready.

An e-mail arrived on my desk, from Carl and attached was is a 15-page research piece entitled “Robinhood vs. The Sherriff (Sage) of Omaha!”.

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Let’s face it, price is a determining factor for most goods purchased. Therefore, price acts as a measure of quality. Generally, the higher the price the greater the quality perceived. But how do we determine the price of goods that we purchase?

These questions can be extended to the prices of stock exchange-listed shares.

I have decided to narrow my thoughts on, how shares are priced. We all know that the price displayed on each listed stock includes all the known information about the share. Any information that is unknown is considered as an immeasurable risk. Immeasurable risk if deemed material, has the propensity to either move the share price up or down unrealistically.

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Global & Local Asset Management provides investment advice for those investors wishing to invest capital in offshore markets. Investment advice is dependent on each individual investor’s personal circumstances, thus it is imperative for each investor to consult with an experienced and licensed investment advisor that will be able to compile a comprehensive investment plan tailored to that specific investor’s circumstances and needs.

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