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“Emerging markets fundamentals are actually stronger now than they were in the past, and they are certainly stronger than developed-market countries, especially if you factor in the policy room for maneuver,” he said in an e-mailed reply to questions. “In addition to that, I would argue that valuation and technicals matter just as much as fundamentals at this juncture.”
Stensrud sees emerging economies breaking away from dependency on these cycles as they rely more on service based industries.
“Looking at traditional emerging markets you could be tempted to think that they used to be commodities driven, that they used to be cyclical, but their service sector is growing very fast,” he said. “You could say South Africa is a mining country, but if you look at South Africa’s stock exchange, it’s basically a services index. The service sector is growing fast in all emerging economies.”
Stensrud said they’re also pursuing investments in South Africa and in Chinese Internet companies.
“Two years ahead, we think we are in a huge paradigm shift globally to what you might call a non-material economy,” he said. That means “less and less goods and energy produce services, so we are looking a good deal into global e-commerce.”
This is the least confident I have been that the ANC will do the right thing, writes political analyst Nic Borain.
SA Corporate Real estate fund
They seem to have fairly high divi based on (http://www.topyields.nl/Top-dividend-yields-of-JSE.php).
anyone got more info on this company??
Is it worth investing in??
It's a 'Hold'. I would rather go for RIN (soon to be “RI PLC”, JSE share code: RPL due to inward listing.
Nice Rand hedge.
It's characteristic of this type of racial nationalism that it is quite incapable of acknowledging the contribution of the skills and expertise of racial minorities towards the common good, or of the basic interdependency between minority and majority. Ultimately, as in Zimbabwe post-1999, economic considerations are subordinated to ideological ones. South Africa's future depends almost completely on whether it will be able to avoid succumbing to this same destructive itch.
Broken through the bottom Bollinger Band for the first time ever and pushed it down. Tug of war between the bad SA economy results and the good NFP. Tomorrow will tell. My guess is that she will jump back up above the band if that drop was with thin volumes.Ah.. NFP ? wotdat ?
US up almost 1% with this news. Some economists said that the markets will dip on good news as the Fed will stop or cut down the stimulus sooner. Seems to me that the markets don't actually care if the stimulus is stopped as thing normalize.That baffled me as well - not the typical knee-jerk reaction.
There are a lot of different indicators and studies that technical analysts use, and all of those tools came into usage due to some degree of merit. But the one factor which seems to be trumping everything else lately is what the Fed is doing with its QEternity program, which shows no sign of stopping anytime soon, or maybe ever.
My question is: Which share price will benefit the most, Remgro or Caxton?False alarm - neither here nor there. Caxton is very illiquid. Read the statement by Rupert for a better picture.
That is the one I need to own.
Earlier in the meeting, Rupert interrupted proceedings to tell shareholders: “We’re not interested in going into the print media.”
He was responding to recent media speculation that Remgro’s involvement in the buyout of ElementOne’s stake in Caxton was the start of a bid to move into the media industry.
“It’s amazing how the print media finds its own industry so interesting,” Rupert said about the speculation on the offer from Bidco for the Caxton stake. Bidco comprises RMB Investments, Remgro and Caxton directors Terry Moolman and Noel Coburn.
Rupert said Remgro had an effective shareholding of less than 7 percent in Caxton. “These are shares that we acquired about 20 years ago when there was a huge fight between Naspers and Perskor.”
Caxton subsequently acquired Perskor.
Rupert said part of Remgro’s holding in Caxton would be used in the new structure that would control Caxton after the ElementOne buyout. “We are not contributing any cash, we are merely helping to unlock value,” Rupert said.
He added that if Caxton’s profit increased two-fold or even four-fold it would not make a difference to Remgro.
“It would make a difference to Moolman but not to us.”
“It is very, very precarious,” Rupert said at the annual general meeting in Cape Town of Remgro Ltd., where he is also chairman. “There will be tears, but we don’t know when, and we don’t know whether it’s going to be a big inflation or whether it’s going to be a depression. Just hedge your bets.”
Remgro is an investment holding company with interests including banking and financial services, packaging, wine and spirits, and personal care products. Rupert said that if the global economy doesn’t do well, Remgro is still well positioned, while Richemont isn’t.
“The luxury goods market is very cyclical and relies on consumers discretionary spend,” Rey Wium, an analyst at Renaissance Capital in Johannesburg, said by telephone. “When times are tough, consumers will tighten their belts.”
