It was a good week for bitcoin as it got back above $40 000. A month back we spoke with Petri Redelinghuys from Herenya Capital Advisors when the cryptocurrency was at $32 000 and he recommended a buy, so we asked him what to do now after a quick 20% gain.
Staying with crypto I spoke with Revix founder Sean Sanders about the changes to Ethereum that started rolling out on Thursday. He commented that it will make transaction fees more predictable but also mentioned another major update coming in 2022. This will change the process from mining to proof of stake and could make Ethereum a much greener crypto as a result.
The MTN update was full of moving parts and non-cash items that negatively impacted the Heps. But they have managed to extract some R5 billion out of Nigeria so far this year and the court case stemming from their Afghanistan business has been dismissed. I spoke with Gary Booysen from Rand Swiss on whether he still likes the stock and his preference between MTN and Vodacom.
Nike has been a phenomenal investment as the company has mastered the omni-channel approach but also integrated the brand into the minds of socially-conscious youth. I spoke with Keith McLachlan from Integral Asset Management about his alternative offshore investment in the clothing space: Levi Strauss. He makes a compelling case that not only are the valuations way better on Levi Strauss, but they could become the next Nike as the world moves to more casual wear.
Also this week: Port blockages weigh on Sappi, Anchor’s Martin Smith on the Woolies and Glencore updates and JSE results. Steve Binnie, Sappi CEO, unpacked results as July’s riots cost it $16 million in lost profit.