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LentilSoup

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Everything posted by LentilSoup

  1. Come to think of it, I would like to hear Brian Joffe talk about why and how he started Long4Life - I mean if you are 70 years old you do not start a company to take safe bets, it would be fascinating to hear his thinking and approach to Long 4 Life acquisitions and future plans. I suspect he might be a lot more aggressive now - obviously a reason why I think we all like Long 4 Life here.
  2. Nerina Visser from ETFsa - It's always enlightening to hear her speak about the ETF market.
  3. Tawana just made crypto look like last season haha
  4. Analysts expect Ramaphosa to make cabinet changes, Gigaba’s credentials questioned by some economists. South Africa will benefit from a wave of positive market sentiment under new President Cyril Ramaphosa, Finance Minister Malusi Gigaba said on Friday, as speculation swirled about whether he would keep his job. Ramaphosa was sworn in as head of state on Thursday after his scandal-plagued predecessor, Jacob Zuma, reluctantly resigned on orders of the ruling African National Congress (ANC) after nine years in office blighted by corruption, economic mismanagement and disputed appointments. Ramaphosa is expected to reshuffle his cabinet and Gigaba, seen as loyal to Zuma, is among ministers likely to be affected. Ahead of Ramaphosa’s maiden state of the nation address on Friday, Gigaba said South Africa should keep riding the wave of positive market sentiment after the change of leadership. He said that over the medium term, Africa‘s most industrialised economy would be working “very hard” to restore its investment grade after last year’s downgrades to “junk” status by S&P Global Ratings and Fitch. Moody’s, which rates South African debt on its lowest investment grade rung, placed the country on review for a downgrade. “It’s not going to be easy to restore our investment credit rating but we are going to continue doing our best to maintain, at least from the point of view of Moody’s, an investment grade and to ensure that the other ratings agencies do not revise us downwards,” Gigaba told Reuters outside parliament in Cape Town. “We need to sustain the level at which we are for now, but over the medium term, we are going to work very hard to restore our investment grade.” Moody’s is expected to make a decision after the Treasury presents its 2018 budget to parliament on Wednesday. Market focus was on whether Ramaphosa would reshuffle the cabinet before budget day and replace Gigaba. Ramaphosa was due to give more details about how he plans to tackle graft and revitalise economic growth on Friday in his first state of the nation address. “Ramaphosa should quickly announce a cabinet shuffle that jettisons all remnants of the Zuma years,” BBH analysts wrote in a note adding, “The most important one that should be replaced is Finance Minister Gigaba.” Asked if he would remain in his post under Ramaphosa, Gigaba said he served at the pleasure of the president who had the prerogative to both “appoint and disappoint” ministers. Some economists and political analysts questioned the credentials of Gigaba when he was named to head Treasury in March last year, replacing Pravin Gordhan who had built a strong reputation for fiscal prudence. Gigaba’s unexpected appointment made him the fourth minister to lead the Treasury in just under two years as South Africa grappled with low growth and high unemployment. Though he lacked an economics background, he was no policymaking novice, having been public enterprises minister under Zuma from 2009-2014. He also served as home affairs minister before moving to the finance ministry. “Huge Scrutiny” In October, Gigaba announced dire budget forecasts that included weak growth expectations, revenue shortfall and rising government debt, shocking financial markets. The dismal economic outlook led to the downgrade of South African debt to “junk”. “Expect huge scrutiny of the new cabinet, likely to be appointed over the weekend, as President Ramaphosa treads the line between party unity and his promise to fight corruption,” Rand Merchant Bank analyst John Cairns said. “Speculation is rife over who will read the budget on Wednesday, although we will be more focused on the content than the persona.” Analysts said other ministers who could be removed in a cabinet reshuffle include Mines Minister Mosebenzi Zwane amid policy uncertainty in the key mining industry. It has been waging a court battle with the minister over an increase in black ownership targets. Ramaphosa has promised to end an impasse over the Mining Charter, introduced as part of a wider drive designed to rectify the lingering disparities of apartheid. “Zuma’s exit may be followed by a cabinet reshuffle, greater efforts for fiscal consolidation and further governance changes at state-owned enterprises,” UBS analysts said. “This should lower the probability of a rating downgrade by Moody’s in March, although the risks remain considerable.” Source: Reuters
  5. This is a very interesting ETF for me as well.
  6. Ahhh, I didn't realize they have a limited offering. There is also Sanlam's iTrader
  7. If you want to buy US stocks for investing then double check the EE platform, EasyEquities added us stocks a little while ago.
  8. DUBLIN - Dolores O‘Riordan, the lead singer of rock group The Cranberries, has died suddenly in London at the age of 46, Irish state broadcaster RTE reported on Monday. The Irish group shot to fame in the 1990s with the hit Linger and have sold over 40 million records, according to the group’s official website. RTE quoted O‘Riordan’s publicist as saying that she had died while in London for a short recording session. “Family members are devastated to hear the breaking news and have requested privacy at this very difficult time,” RTE quoted the publicist as saying. Source: Reuters
  9. The Asset Forfeiture Unit is going after the Gupta family, and is set to serve a summons on them on Tuesday morning to preserve assets of theirs worth in the region of R1.6 billion. This move will be the first time the State has taken action against President Jacob Zuma’s friends, who have been at the forefront of capturing the South African state. The unit falls under the National Prosecuting Authority. The Asset Forfeiture Unit applied for three separate orders at the high court in Pretoria as well as the high court in Bloemfontein last month, and the ex parte applications seeking orders to preserve the Guptas’ assets were granted. Three senior officials at the Asset Forfeiture Unit and the National Prosecuting Authority confirmed to City Press that the unit sought to preserve Gupta assets worth R1.6 billion, which will be placed under curatorship. The application was brought in terms of the Prevention of Organised Crime Act, which allows assets of defendants in criminal cases – or people who have yet to be criminally charged – to be preserved pending the outcome of their prosecution. After they have been successfully prosecuted, the assets are then permanently forfeited to the state. Under the act, the assets in question are alleged to have been acquired with the proceeds of crime. City Press understands that the process was meant to be accompanied by the arrests of members of the Gupta family, who are also the business partners of Zuma’s son Duduzane, as well as some of their close associates, which include senior politicians. But exactly which members of the Gupta family this will involve and when the arrests will be effected are not yet clear. City Press understands from senior sources within the Hawks that they have in their sights Mineral Resources Minister Mosebenzi Zwane, who irregularly helped the Guptas acquire Optimum Coal mine from Glencore. City Press has been aware of the impending application since October last year, but was unable to report on the matter until the summons had been served. At the time, City Press was told by a senior prosecutor that the aim of the application against the Guptas was “to preserve the assets while the criminal process unfolds”. “The assets targeted include money in the banks, and movable and immovable assets worth the amount paid unduly to the Guptas. [it also includes] money in bank accounts both in South Africa and abroad, as well as property,” the prosecutor said. Although it is currently unclear how prosecutors from the Asset Forfeiture Unit arrived at the R1.6 billion figure, City Press has established that R30 million of that amount relates to the failed dairy farm project through which the Free State provincial government handed a Gupta-linked company called Estina – whose sole director was an IT salesman with no farming experience – a free 99-year lease to a 4400-hectare farm outside Vrede. The Free State MEC for agriculture at the time was Zwane. AmaBhungane reported last year that the Guptas funnelled R84 million of that money to a company in the United Arab Emirates. The #GuptaLeaks also showed that a Gupta-owned company called Linkway Trading funnelled R30 million in cash earmarked for the Vrede dairy project to pay for the lavish Sun City wedding of their niece, Vega, and wrote it off as a “business expense”. City Press was told that the application for a preservation order had taken this long because the Asset Forfeiture Unit had to secure cooperation from foreign governments in countries in which the Guptas have interests. These “MLAs” – or applications for mutual legal assistance” – took months to secure. Senior prosecutors also told City Press that the NPA waited for the outcome of the ANC’s leadership conference at Nasrec for a more conducive political environment in which to launch the application. In his speech at the ANC’s 106th birthday celebration on Saturday, party president Cyril Ramaphosa called for the country’s law-enforcement agencies to act against those implicated in state capture. “Strong and efficient law-enforcement agencies are critical to the fight against corruption and crime generally – and to the restoration of the integrity and legitimacy of the state,” he said. “In this regard, the ANC is of the firm view that the country’s intelligence services, the police and prosecutorial authorities should be strengthened and fortified to act with professionalism and without fear, favour or prejudice.” Before the application was filed in court, Asset Forfeiture Unit prosecutors were also incensed by the manner in which the Guptas had responded to the invitation to appear before the state capture inquiry underway by the parliamentary portfolio committee on public enterprises. They also said that by launching the application they were on “country duty”, and acting in the best interests of South Africans. The prosecutors referred to the letter sent to the committee by Goitseona Pilane Attorneys on behalf of Ajay Gupta in which he accuses Eskom’s suspended legal head Suzanne Daniels of lying under oath about a meeting she attended with him, Gupta business associate Salim Essa, Duduzane Zuma and deputy public enterprises minister Ben Martins. At the meeting in July last year, Daniels said they discussed matters relating to former Eskom chief executive Brian Molefe. She testified that Ajay Gupta said he would contact the deputy chief justice to ensure that Molefe’s labour court hearing was postponed. In the letter, Ajay Gupta threatened to report Daniels to Speaker of Parliament Baleka Mbete. In another letter sent to the committee by Gani Mayet attorneys on Ajay Gupta’s behalf, he insisted his family had been “wrongfully implicated in wrongdoing directly or indirectly either individually or through family or business associations”, and that the inquiry needed to exercise “extreme caution” and test the allegations and allow everyone implicated an opportunity to respond. Case coming for a long time In October last year, the NPA asked City Press not publish the story “until the application is lodged and the order granted”. The NPA said publishing any information relating to the matter would “not be in the interest of proper administration of justice” because applications for preservation orders such as this are urgent and ex parte – meaning they take place without the knowledge of those whose assets are being sought. “If your article is published we would be required to give notice to the other party, they would then enter an appearance to defend and a long drawn out litigation process would ensue,” The NPA said. At the time, other NPA insiders said there was massive pressure for action to be taken against the Gupta family. “The politicians implicated are on the back foot. I don’t see the process being abandoned,” said one. On Monday, NPA spokesperson Luvuyo Mfaku confirmed that the summons would be served on the Guptas on Tuesday. Source: City Press (Seems to be owned by News24 now)
  10. I hope Long 4 Life reads your post @SaurusDNA your wife deserves a lucky packet. The price is moving up.
  11. CAPE TOWN — There’s some real excitement at the prospects of a reformed cabinet under incoming President Cyril Ramaphosa. Just the mention of names like Pravin Gordhan and Naledi Pandor in an allegedly leaked list of Cabinet nominees – and the absence of some seriously corrupt current wreckers – is enough to get the rand into the starting blocks. Here Donwald Pressly uses his long-standing contacts and inside sources in national politics to construct a fascinating glimpse of what might happen under Cyril Ramaphosa. Just how quickly a reformed cabinet is appointed of course depends on the former trade union and corporate executive guru’s adroitness in managing the existing political mix to get the troublesome incumbent out. He’ll be helped by a potent mix of legal rulings that render his adversary more vulnerable than he’s ever been, and hindered by the very glue that has held the ANC together; the compromised evenly-split NEC and top six. But we have a new national boss on the wing and that’s pretty damn uplifting. – Chris Bateman Here is the full circulated list: President – Cyril Ramaphosa (currently Deputy President) Deputy President – David Mabuza (Mpumalanga Premier and now ANC deputy president) Minister in the Presidency – Joel Netshiaatenze (former government spokesman under President Thabo Mbeki) Women – Baleka Mbete (currently Speaker) Agriculture – Thulas Nxesi Arts & Culture – Dipuo Letsatsi Duba Basic Education – Angie Motshekga Higher Education + Training – Blade Nzimande Communications – Jackson Mthembu Cooperative Governance -Mondli Gungubela Defence & Mil Veterans – Nosiviwe Mapisa Nqakula / Thabang Makwetla Economic Development – Enoch Godongwane Energy – Senzo Mchunu/ Dikeledi Magadzi (depending on the SG issue) Environmental Affairs – David Mahlobo Finance – Zweli Mkhize Health – Aaron Motsoaledi Home Affairs – Malusi Gigaba Human Settlements – Kenny Moimang International Relations – Lindiwe Sisulu Justice – Mathole Motshekga/ Andries Nel Labour – Thandi Modise Mineral Resources – Ebrahim Rasool Police – Jeff Radebe Public Enterprises – Pravin Gordhan (former Finance Minister) Public Services – Ayanda Dlodlo Public Works – Thoko Didiza Rural Development – Gugile Nkwinti Science & Technology – Naledi Pandor Small Business Development – Lindiwe Zulu Social Development – Nkosazana Dlamini Zuma Sport & Recreation – Fikile Mbalula State Security – Bheki Cele Telecommunications – Stella Ndabeni Abrahams Tourism – Derek Hanekom Trade & Industry – Rob Davies Transport – Ebrahim Patel Water and Sanitation – Lulu Johnson
  12. I would love to get some analysis on Capitec for 2018
  13. I like what Simon said about them in his JSE Power Hour, this really seems to be a good stock to hold long term.
  14. Is anyone considering buying Steinhoff at these prices? Am I just being silly or is there merits to think that this is blown out of proportion and the market is just overreacting?
  15. I listen to JustoneLap's podcasts, it helps it does clear some questions, but that alone is not enough, for ages I did not know where else to go, because the advisors my parents used were the typical type, either pushing a product or stuttering when their answers don't cut it. I did a random google "How to invest on the JSE" and saw a thread from PW, I was hooked ever since, it's like a different type of guidance I get here, I mean we don't always agree and finance is definitely not a one size fits all, but so much wealth of information comes out of these threads, like this one: https://platinumwealth.co.za/forum/Thread-Critique-my-ETF-portfolio people discussing ETFs I did not even know exists like the emerging markets one, this platform is such a great source of knowledge already.
  16. Red Hot Chili Peppers - The Adventures of Rain Dance Maggie [video=youtube]
  17. Is the gender-neutral term for “sugar daddy” “glucose guardian”?
  18. Holy Wars...The Punishment Due [video=youtube]
  19. Is that, that STAR thing they did? The de-bundling a while ago?
  20. But what do they know! That said, I think Simon was also quite negative about the stock some time back either beginning of the year or lat year and I value his views quite a bit. But wait! We can tag him @SimonPB what do you think about Ellies?
  21. I think Ellies is the stock that guy from Anchor Group said was [email protected], what is that guy's name... slipping my mind, Clark something.
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