Simon’s weekly wrap: Investing in a bear market

This week MoneywebNOW looked at where we are in the bear market, Amplats and Kumba’s subdued numbers, how emotions may thwart investments, SA’s potential FATF grey-listing, and Levi Strauss as a stock.

‘Bear markets’ refer to when a market falls over 20% from highs; we’re living in one right now. It’s no fun. I spoke with Andrew Dittberner of Old Mutual Private Client Securities about insights from 95 years of market data, to get a sense of where we are in this bear market. It’s likely that we’re more than halfway through, so while there’s more pain to come, we may close to an eventual end. (Read transcript)

We’re starting to see trading updates from mining companies for the first half of 2022 and so far, they are bleak. I spoke with Mia Kruger from Kruger International, and she points out that compared with the corresponding first-half of 2021, we should expect weaker earnings. The miners are still very profitable, but commodity prices are well off the early 2021 highs. (Read transcript)

Over the last decade South Africans were rushing money offshore to catch the tech trade, which has now collapsed. Clive Eggers of GTC points out that this was a Fomo (fear of missing out) trade and it certainly made money. But we should not forget local equities, and have a balance between local and offshore. (Read transcript)

I spoke with Jeanine de Swardt-Breeds of Masthead about the potential South Africa’s potential grey-listing. The Financial Action Task Force (FATF) was in the country in September and gave us a year to remedy issues around money laundering and financial support for terrorism. If we don’t get things on track by October, we could be on its grey-list – with serious implications for the country. (Read transcript)

Also this week:

Keith McLachlan of Integral Asset Management shares his thoughts on the latest numbers from Levi Strauss and his thoughts on this stock. (Read transcript)

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