If you held the share yesterday at close on Tuesday 23 May you will see PPEN in your account. 10.20567 for every 100 Purple shares you held.
Each PPEN (letter of allocation or LOC as some are calling it) entitles you to buy 1 new Purple share at 81c.
If you do NOTHING by 6 June they disappear with ZERO value
Sanlam will take their R45m and of the R105m public offer they will take up to ±R76m of the R105m if nobody else does. Existing large shareholders have promised to take up their rights at ±R28m. So at the end of the day they will get the R105m.
I have been talking about a cracking (broken?) consumer for a few months now. Two recent surveys show exactly this data.
Bretton Woods essentially created teh US$ as a reserve currency
Now all commodities trade in US$
The end of the US$ is as old as time, really kicked off with the advent of the Euro in 1999.
But who take over?
That said, the US$ will lose influence over time. It has been and will continue to do so. One day it may well be over, but we're a very long way from that.
But my worry is it is priced +2x valuations of the other four big banks and it is now largely a mature bank. Sure low cost base, but I do not think it deserves that high valuation so am likely exiting after holding since 2009.
Current open trading positions, long everything
My 7/21 trading system has me long all the indices I trade as below;
Top40 stocks, top and bottom performers pic.twitter.com/zwZlJkRpwX
— Simon Brown (@SimonPB) April 3, 2023
They are great
Dividend Withholding Tax (DWT) is 20%. The maximum Capital Gains Tax (CGT) is 18% after the annual R40k exclusion.
And DWT you pay along the way, eroding your return over time whereas CGT you only pay at the end.
Warren Buffett Berkshire Hathaway has never paid a dividend and he says they never will. Rather sell he says, more tax efficient.
Share buys backs are more efficient, but done at high valuations destroy capital.
No easy answer, but maybe we should temper our love?
Spur (JSE code: SUR) results vs. Famous Brands (JSE code: FBR).
Great insights into the budget, who should be our finance minister and even the Coronation* (JSE code: CML) Con Court appeal against the SARS judgement.
AI has suddenly landed and it's going to be wild.
I rate it with some other major technological paradigm shifts;
All were horrid when they launched. But now they drive humanity.
Facebook getting their ads working AI after Apple locked them out.
Search is changing and will Google be the new winner.
We use Dali-E for images on JOL
Chat GPT is great, but it is not accurate. That is actually a design feature, but this is only version 3.5 and already lots of people are using it for real world practical examples.
How is it going to change investing and trading? I don't know but I know many, myself included, are trying things to see what works and what actually adds value.
Quick update, I buying Coronation (JSE code:CML) at ±3750c.
View my portfolio ==>> www.SimonBrown.co.za
All listed companies are mentioning load shedding in their updates.
"The Group's additional spend on diesel to operate generators across our Supermarkets RSA store base in order to trade uninterrupted during load shedding stages five and six amounted to R560 million for the period."
For the six months ending 2 January 2022 operating profit was R5,113billion. So load shedding costing the group ±10% of operating profit?
"A large portion of the capital expenditure commitments amounting to R737 million, outlined during the F2022 results presentation, has been placed on hold given the current adverse market conditions. The Group has however committed funds towards backup electricity generation solutions to reduce the adverse impact of load shedding."
— Simon Brown (@SimonPB) January 24, 2023
@simonbrown_za ArcelorMittal SA horror update as the second half was loss making #investing #share #jse ♬ original sound - SimonBrown
Food inflation is still high, 12.7% YonY for December.
But likely peaked (good rains, diesel lower and reducing input costs)
Preferred food retailer?
Now for the tenth year in a row, we kick off the new year with a prediction show.
Importantly we start each show with a review of the previous year’s predictions and you’ll find the 2022 predictions show here.
I've been buying some Zeda on the JSE.
- Here's why
- A bit about the business
- Possible target price
Oil below US$ 80, the first time this year.
Chinese covid-19 cases hitting new records, by a long way.
This has real implications (bad ones) for the global economy as the second largest is going to be struggling in 2023.
Chinese covid cases since the start of the pandemic
It feels really bad but the JSE has had a fair year with sen decent winners as the two images below show.
JSE Top40 stocks year-to-date. (winners)
JSE Top40 stocks year-to-date. (losers)