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Everything posted by Noobly

  1. Cape Town - The JSE powered to fresh highs on Friday, closing off a strong week of consecutive daily gains, as the market responded to a weaker rand. At the close of trading, all the major indices were in the green, as the larger dual-listed shares benefited from the weaker rand which traded at R13.72 against the dollar. The All-share index gained 0.41% and closed at 57 231.87 while the blue-chip Top40 gained 0.44% and closed at 51 010.38. Industrials gained 0.54% followed by Financials 0.29%, Resources 0.25% and Gold miners 0.07%. Lonmin [JSE:LON] shot the lights out and climbed 16.90% to R15.15 following an announcement that the platinum miner expects higher full year sales than previously estimated. The share has fallen over 50% since January. The platinum producer has also announced that it had fulfilled the last requirement to buy out its partners, Anglo American, in its Pandora project. Nearly a year ago, Anglo American Platinum [JSE:AMS] had agreed to sell its 42.5% stake in Pandora for R400m cash and a share of profit for six years. Brent Crude prices fell to $55.40/bbl as Russia clarified that President Vladimir Putin had not, as suggested, proposed extending the production cut agreement although he thought it was a possibility. Saudi Arabia’s energy minister also sounded lukewarm about an extension until the end of 2018, saying he was “flexible” about it. Crude prices had risen dramatically of late following the spate of hurricanes affecting refineries and the incoming tropical storm Nate heading for the Gulf of Mexico ahead of a likely US landfall as a hurricane this coming weekend. Nearly 15% of oil production and 6.5% of natural gas output in the US Gulf had been shut as of late yesterday as operators evacuate offshore facilities in advance of the storm. Non-farm payroll data out of the US surprised to the downside, with employment falling for the first time in seven years amid hurricane destruction. Hurricanes Harvey and Irma triggered a record drop in employment, especially affecting the hospitality and leisure sectors Netflix soared to the top of the S&P 500 in, advancing 5.4% to a new all-time high after announcing an upcoming price bump for its U.S. streaming services. Analysts say Netflix (NASDAQ:NFLX) subscribers are not likely to cancel in droves as they have in response to some previous price increases because the service now offers more content and is cheaper than many new rivals. Source: News24
  2. I would recommend it, I think it's something one should have a part it, I am not preaching bitcoin or anything, just saying it has made a tremendous impact on how I personally think about money and I am sure there are many others whom also changed their perception of money.
  3. MetaTrader 5 is here! It’s been years of planning, months of implementation and many requests from you our valued traders. But the time is here, GT247.com is bringing you the best of the best in trading platforms, a new and improved institutional multi-asset trading platform… MetaTrader 5 (MT5). We know that successful trading starts with the right tools and platform, so we wanted to bring you the best around. MT5 offers outstanding technical analysis tools, charts and strategies, automated trading systems, copy trading and much much more. The platform is very user-friendly for the beginner trader, but also has the most advanced tools and capabilities for our experienced traders. So what does this mean? We will start the first phase of the old to new transition next week, this will happen in batches and will be communicated to you directly, we plan to have everyone moved across to MT5 by the end of October. We understand change is difficult for some, but we are confident MT5 will bring huge benefits and value to your day to day trading. Your money In order to make this process seamless with no impact on your trading, your funds will automatically be transferred into your new MT5 account. Keep an eye out for a link to your new MT5 demo account, so you can familiarise yourself with the new platform. Understanding the platform Our dedicated trading desk will be working around the clock to ensure that you are comfortable with the new platform before you place your first trade. Our short video tutorials are easy to understand, but help is just a click (or phone call) away. Your overall trading experience and needs are very important to us, which is why we are confident that our new platform will give you all the functionality you need to be a successful trader. If you have any questions or concerns, we're here to help. Kurt Solomon | GT247.com brand manager.
  4. I also have some AXL, seems to be a non-mover. Will it reach R1 this year?
  5. I wanted to say only in the US, but then I remembered, stuff ain't looking much better this side at the moment.
  6. Is @Kristia van Heerden still here?
  7. "“I was born a king. I do not owe anyone anything,” he said." Wait a minute... Is that not the reason whites are being slaughtered in this country? For being born white, and accused of being the legacy of Apartheid.
  8. I highly doubt it, so best bring a VPN with.
  9. That service fee, do you pay that regardless if you use the credit facility or not?
  10. Drinking. - I know, money could have been better utilized in a DBXWD or some other ETF.
  11. Cape Town - In South Africa, the price of medical services in the public sector is predetermined, and/or based on the income of the patient (the Uniform Patient Fee Schedule). Rebates, based on income are determined by this. Not so in the private healthcare sector, where soaring prices charged for the services of doctors and specialists in and out of hospital have contributed to annual double-digit medical scheme contribution increases for many members over the last few years. Earlier in 2017 Dr Aaron Motsoaledi, Minister of Health, stated that the price of private healthcare had increased by 300% in the preceding decade. In all fairness it has to be said that not all private doctors overcharge, and equipment costs and the weak exchange rate can also shoulder a fair share of the blame for the spiraling costs of private healthcare. Let us be clear: doctors are entitled to a reasonable living along with all other professionals. But what is considered reasonable? Despite efforts to increase membership of medical schemes, membership numbers have remained largely static over the last decade, with just under four million principal members of schemes in SA, and just under nine million lives covered, according to Alexander Forbes Health. That means in a population of close on 55 million people, 84% are dependent on state medical services, unless they are able to pay out of their own pocket for private healthcare. The rapidly increasing cost of member contributions has been blamed for this state of affairs, putting not only private medical care, but also medical cover beyond the reach of the average South African. How did we get here? There is a long history of Price Lists being put together by different players in the field of healthcare. But there has been no set of tariffs to which everyone agrees for many years. These recommended tariffs can differ by as much as 300%, depending on which list you are looking at. Until now there has been nothing, not even market forces of supply and demand, that could put a stop to this. The high cost of private healthcare in SA Over the years, Dr Motsoaledi has consistently slammed what he calls “the exorbitant prices in private healthcare” going so far as calling it a “sick situation” and accusing the private sector of over-servicing the rich, while there was general underservicing of the poor in the country as a whole. He has been quoted as saying at the Competition Commission’s Private Healthcare Market Inquiry that “Nowhere in the world does private healthcare cost as much as it does in South Africa”. PMBs to be paid ‘in full’ And yet, it is the very wording of Regulation 8 of the Medical Schemes Act of 1998, which requires medical schemes to pay for 270 Prescribed Minimum Benefits in full that is one of the contributory factors to keeping private healthcare costs so high. While there are pricing guidelines, which the medical schemes follow to determine rates they will pay for certain procedures and medication, these are not enforceable when it comes to the treatment of PMBs. Genesis Medical Scheme launched an application to the High Court to have Regulation 8 struck down, in an effort to curb costs to medical schemes. Their argument was that they were in favour of paying a reasonable fee to a doctor for the treatment of members for a PMB, but they asked the question whether that fee should be without limit? Genesis recently cited a case of a plastic surgeon who charged in excess of R1 000 per minute for his services in the theatre, which would amount to fees of R60 000 per hour, or R480 000 per day. The procedure was to stitch up the eyebrow of a patient. It was neither an emergency nor life-threatening surgery. As this fee was for the treatment of a PMB, they are forced to settle the doctor’s fee in full. Genesis also has evidence of doctors seeking to charge the equivalent of R33 000 per hour and R28 000 per hour. Where does this leave medical schemes? Medical schemes have two streams of income: member contributions, and income from investing the funds in the reserve. The schemes are not run for profit, and the expenditure of any scheme is basically on two items: paying of members’ claims and the administration of the scheme. It stands to reason that the higher the medical claims that have to be paid out, the higher the member contributions have to be in order to make this possible in the long run. Even if a doctor discusses his fee with a patient, if he is being treated for a PMB, it is the medical scheme who pays, and not the patient directly. Not immediately anyway – but ultimately, when contribution increases are announced, it will be. The question arises as to the long-term sustainability of a system where schemes are forced to pay fees to which there is no cap. Medical inflation is consistently higher than CPI inflation, and over a period of time, this means that the average member’s medical scheme contribution makes up a larger and larger percentage of their disposable income every year. The result of this is static numbers of medical scheme members, buy-downs to cheaper options, and a reduction in the number of dependents that principal members register on their schemes. Members who are hard-pressed financially can also resign completely from their schemes, placing further pressure on the already overburdened state healthcare services. The question boils down to the original intention of the legislators in their wording of Regulation 8. Was it put in to protect scheme members by providing them guaranteed access to certain treatments, was it to give the private health sector a blank cheque when it comes to treating scheme members for PMBs. Indeed, can, or should a regulation ever supersede an Act? The ultimate question that should be asked is what is considered to be a reasonable fee, and who would all parties trust to determine that? Private doctors provide a necessary, if costly, service, their practice costs are often high, their study costs were huge, as are their malpractice insurance costs. They do not work for the state, and can take their skills and knowledge elsewhere if legislation becomes too prescriptive and restrictive in one country. Their fees are said to be determined by the normal economic forces of supply and demand. Or are they? If the patients themselves were paying directly, then yes. But the majority of private patients in this country are medical scheme members – and according to the law, the schemes are forced to pay whatever the doctors charge for treating PMBs. Few private patients could pay any doctor R1 000 per minute, and if it weren’t for scheme members, presumably that specialist would be out of business soon. But is it not just a matter of time before those same economic forces cripple the medical schemes, which are, after all, just made up from groups of the same patients? In the end, overcharging is counterproductive and leads to nothing but crippling the system that is now keeping the R1 000-a-minute specialist afloat. And one may ask if the doctor is really that brilliant, or whether they are just doing it because they can? It’s time to curb excessive costs, before it kills both the private health sector and the country’s medical schemes. * Susan Erasmus is a freelance writer and regular columnist on Fin24. She first wrote this article for Genesis Medical Scheme.
  12. You had me at bacon! Ranger gon' feast tonight.
  13. I feel the same OP, when I go to bed I plug my phone in for the night whether that is on 1%, 15% or 90%. I heard somewhere modern batteries are not affected, hope that is true.
  14. Great post! I have always wondered about this.
  15. Awesome, thanks. I'll be looking at ANH.
  16. I'm really glad some actions are being taken. What exactly does membership to the PRCA offer, in other words will this be a blow to Bell Pottinger?
  17. Curro vs Others With SA's current climate is it still wise to buy into private education? I am getting the feeling that the ANC government will try all there is to try in order to make life hard for these private education institutions.
  18. Has this change happened? When will the re-naming happen?
  19. Noobly

    Your TFIA/TFSA

    My TFSA is doing alright now. DbxWD is a saviour
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