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Sep 21, 2016

Reviewing small cap results with Keith McLachlan

small_cap_results
Reviewing small cap results with Keith McLachlan

Simon Shares

  • Wells Fargo is the sort of stock that if I owned it, I would sell it as management totally failed and refuse to accept any blame.
  • There is a theory that equal weight ETFs have higher costs because they have to rebalance every stock every quarter. But checking the STXIND over the last four quarters. Twice every stock changed weight and twice only two stocks did not change weightings.
  • Harmony (JSE code: HAR) buys the half of the Hidden Valley mine in Papua New Guinea for US$1!
  • PPC (JSE code: PPC) rights offer was 92% taken up but with excess allocation requests of another 509%. Some serious big hitters thinking this a great deal.
  • Sasfin (JSE code: SFN) nonperforming loans more than doubled. They operate in the small-and medium-sized enterprises so it is a telling number. The economy is seriously struggling and while I have seen some economists upgrading GDP expectations for 2016, none have us at above 1% for the year. So better but not close enough to good.
  • Moody's says a one third chance of a downgrade but what really matters is Fitch and Standard and Poors as they have us just above junk status. Things are looking a bit better but I still think we're on track for a downgrade to junk.
  • Proptrax SAPY ETF from CoreShares.
  • Trading Master Class, reversal patterns video is online. Follow up webcast (live on the IG platform) is 5th October 1pm (book here).

Keith McLachlan small / mid cap fund manager at Alpha Wealth

Tough conditions for SA inc. but we've seen some great results from small and mid cap listed companies. Simon chats to Keith about recent results from;

  • Afrocentric (JSE code: ACT)
  • Rolfes (JSE code: RLF)
  • Acendis Health (JSE code: ACS)
  • Master Drilling (JSE code: MDI)

We Get Mail

  • Sarel
    • SAB Options. Any strong opinions regarding these two options?

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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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