Stocks like Microsoft, Meta and Netflix have been strong winners in our portfolios (although we've had different exposures to them at different times). These stocks are great case studies to deal with two important questions.
The first relates to letting winners run. How do we think about having long-term vs. tactical positions and potentially trimming them over time?
The second relates to winners in a different context, being stocks in sectors with winner-takes-all or winners-take-most economics. Does this change the way we think about them over time?
As always, this podcast is a way to share our ideas with listeners and drive debate. It is for informational purposes only and should not be treated as financial advice.
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21:31
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21:31
Magic Markets #236: Mpact's Bullish Outlook on SA Agri - Fact or Fiction?
Earlier this week, Mpact gave the South African market a positive surprise. The packaging group is a major supplier to the agri sector, particularly for the export of agricultural products from South Africa like citrus. At a time when the market was expecting doom and gloom thanks to US tariffs, Mpact gave a positive outlook around agricultural activity and the share price rallied in response.
To find out whether this bullish outlook is warranted, we asked Wandile Sihlobo to join us on the show. Despite the last minute decision to go this route, he graciously accepted the invite and brought his expert voice to the discussion.
It turns out that the real story on SA agriculture is a lot more bullish than you might think.
This podcast is for informational purposes only and is not financial or investment advice. Please speak to your personal financial advisor. Â
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23:12
Magic Markets #235: Can Fast Food Stocks Keep Growing?
Are consumers still having fries with that, or have changes in consumer preferences (like more awareness of health and nutrition) given fast food stocks a knock?
Quick-service restaurants are businesses that can scale quickly, usually through a franchise model, which is why they've historically done well. They don't all take this route though, as evidenced by Chipotle that we just covered in Magic Markets Premium - and that's one of the best names in this sector. Clearly, there are important nuances here.
Aside from the global names, how have Spur and Famous Brands been doing on the JSE? And what are some of the core differences in their strategies?
You listen to this show on an empty stomach at your own risk. You can also expect to hear a brief argument about Italian milkshakes.
This podcast is for informational purposes only and is not financial or investment advice. Please speak to your personal financial advisor. Â
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31:05
Magic Markets #234: How Do Banks Manage Their Balance Sheets?
After covering the financials sector on the JSE last week and with our latest Premium research being on Goldman Sachs, we decided to talk about bank balance sheets and some of the key concepts.
This includes elements like capital adequacy, non-performing loans and portfolio tilts across various products. If you've ever wondered why mortgage originators even exist in the first place, you'll enjoy this show.
This podcast is for informational purposes only and is not financial or investment advice. Please speak to your personal financial advisor. Â
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22:08
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22:08
Magic Markets #233: Financials on the JSE - Paradise for Stock Pickers
The financials sector on the JSE is a substantial contributor to the overall index. Although banks make up the bulk of the sector, there are also major businesses in areas like insurance and wealth management.
With South Africa's difficult macro backdrop, there isn't a rising tide that lifts all boats in this sector. Instead, it tends to reward stock pickers who understand the nuances across the various businesses, including their relative exposure to South Africa vs. offshore markets.
In this episode, we dig into some of the key concepts to keep in mind when looking at the banks, large diversified financial services groups and businesses that earn fees from assets under management.
This podcast is for informational purposes only and is not financial or investment advice. Please speak to your personal financial advisor.Â
The Finance Ghost and Moe-Knows discuss key market trends across stocks, currencies, fixed income, commodities, macroeconomics and geopolitical trends, helping you understand what's going on out there.
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