Simon’s weekly wrap: Local stock picks

This week MoneywebNOW looked at Pepkor results and product inflation, local healthcare stocks, Momentum Metropolitan’s embedded value, Capital Appreciation’s results and multi-style funds.

Pepkor had solid interim results and I spoke with CEO Leon Lourens about product inflation. He commented that the company is seeing inflation in the high single digits, which is double its long-term average. We also spoke about the massive success of its Paxi parcel service which now delivers some 11 000 parcels a day. (Read transcript)

Locally-listed hospital stocks have now all released results, with improvements showing across the board as we exit the pandemic and elective surgeries start happening again. I spoke with independent analyst Kea Nonyana about his preferred stocks and, while all look good, he likes Mediclinic and the Sygnia Itrix Solactive Healthcare 150 ETF for offshore exposure. (Read transcript)

We’ve been seeing trading updates from insurers with Santam reporting a net R500 million cost due to the KZN floods. I spoke with Keith McLachlan of Integral Asset Management about the Momentum Metropolitan update. It has little short-term exposure, he comments that it’s at a deep discount to embedded value and his pick in the sector. (Read transcript)

We have a very small tech startup sector on the JSE, with Capital Appreciation the only real option. I spoke with CFO Alan Salomon about recent results as terminal sales increased over 50%. I also asked about its new office in Amsterdam and plans for the +R500 million net cash position it has. (Read transcript)

Also this week:

Rademeyer Vermaak of STANLIB Asset Management on Multi-style funds and how they are constructed. (Read transcript)

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