JSE winners and losers for 2023 (#568)

• Position your portfolio for 2024.
• Top local ETFs for 2023.

Simon Shares

• Transaction Capital (JSE code:TCP) results swung into a massive loss, no surprise. SA Taxi loss making but overall H2 was better then H1 in all three divisions.
• Purple Group* (JSE code: PPE) results also swung into a loss. But as a discretionary consumer business, why is everybody so surprised?
  • Average client has 1.45 products. This seems low, very low.
  • Philippines not yet regulated, but they not giving up.
  • Project delays.
• Tigerbrands (JSE code: TBS) show a tough environment and RFG (JSE code: RFG) may offer better value.
• Local Q3 GDP at -0.2%.

• Gold at all-time highs.

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* I hold ungeared positions.

Simon Brown