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JSE Direct with Simon Brown

Weekly podcast hosted by Simon Brown covering the JSE and listed companies.
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Now displaying: January, 2018
Jan 31, 2018

Viceroy charges into Capitec*

I think we're missing a point with this latest Viceroy report on Capitec. Sure we're proud of the business and if you're a shareholder you've made amazing returns. But we seem to be circling the wagons and shooting the messenger rather then actually discussing the merits of the report.

Two important thoughts to ponder.

What if Viceroy had published their Steinhoff report before Steinhoff admitted to their fraud, would we have believed them? Simple answer is no and we would have looked stupid when the company admitted the fraud.

A fund manager does their research in a company, decides it's a great sock. They buy it and then they go out into the world promoting the stock - talking it up in the media and notes to clients. How is this different from what Viceroy is doing (aside from Viceroy shorting rather then buying)?

Here are some others who have been asking questions about Capitec.

*I sold half my Capitec shares at R911.00 yesterday.

A last point is that with Capitec exposed as the Viceroy target suddenly the other contenders (Resilient stable, Aspen, etc) are now all forgiven. But hold on, when we were unsure who was next the market sold these stocks off aggressively - this tells us something important. It tells us the market is not confident about these stocks and we should take that warning seriously.

Here's a Periscope video I did just after the news broke.

Here's the Hebalife video.



JSE – The JSE is a registered trademark of the JSE Limited.

JSEDirect is an independent broadcast and is not endorsed or affiliated with, nor has it been authorised, or otherwise approved by JSE Limited. The views expressed in this programme are solely those of the presenter, and do not necessarily reflect the views of JSE Limited.

Jan 24, 2018

Global Dividend Aristocrats ETF

This week Simon chats to Chris Rule from CoreShares on their soon to be listed Global Dividend Aristocrats ETF. It uses dividends as a quality metric rather then searching for yield and much like the MSCI World ETFs we have locally it is concentrated in the US at 53% with Europe making up another 22% but it is light on tech.

You can book for the events here.



JSE – The JSE is a registered trademark of the JSE Limited.

JSEDirect is an independent broadcast and is not endorsed or affiliated with, nor has it been authorised, or otherwise approved by JSE Limited. The views expressed in this programme are solely those of the presenter, and do not necessarily reflect the views of JSE Limited.

Jan 17, 2018

Simon Shares

  • Aspen (JSE code: APN) being vice squeezed.
  • Woolies* (JSE code: WHL) trading update, "impact of a potential re-assessment of the carrying value of the David Jones assets". Watch out for the "goodwill write downs are not cash", true but they were paid for with cash.
  • Shoprite* (JSE code: SHP) update seemed lighter then I had expected, good but not awesome. That said market liked it and stock is up over 6% since the SENS.

* I hold ungeared positions.

New year resolutions for investors

"Everybody has a plan until they get punched in the face" Mike Tyson

  • Stop watching the prices. These are long term investments, check them every so often if you must but certainly not even weekly never mind intra-day.
  • Only own stocks that you have at least three strong reasons for owning and revisit these reasons at least once a year.
  • Sell the dogs in your portfolio, sell them now (I'll wait).
  • Sell anything that is not the best management and be very careful about what qualifies as best management (think Steinhoff).
  • Careful of complexity (again Steinhoff).
  • Miners and other cyclical stocks are never long term investments.
  • ETFs are best and easiest way to create wealth, always have a core of at least 50% ETFs in your portfolio.
  • Your first R33k invested every year must go into a low cost ETF tax-free account.
  • If you not regularly beating the market over a 1 and 3 year period. Stop trying and just buy ETFs.
  • Cost are a big killer.
  • Keep it simple.
  • Keep it diverse.


JSE – The JSE is a registered trademark of the JSE Limited.

JSEDirect is an independent broadcast and is not endorsed or affiliated with, nor has it been authorised, or otherwise approved by JSE Limited. The views expressed in this programme are solely those of the presenter, and do not necessarily reflect the views of JSE Limited.

Jan 10, 2018

Every year the first JSE Direct of the year is our annual predictions show. Marc Ashton, Keith McLachlan, Small/Midcap fund manager at Alpha Wealth and Just One Lap founder Simon Brown review their predictions from the previous year and make their top three predictions for 2018.

They then also make a call on the Top40 and ZAR/US$ for the year.

You can find the 2017 edition here.



JSE – The JSE is a registered trademark of the JSE Limited.

JSEDirect is an independent broadcast and is not endorsed or affiliated with, nor has it been authorised, or otherwise approved by JSE Limited. The views expressed in this programme are solely those of the presenter, and do not necessarily reflect the views of JSE Limited.

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