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Spreadsheet Ranger

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Spreadsheet Ranger last won the day on April 11

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  1. What issues do you currently have with FNB? Thanks for the deposit lesson, I am tempted to just go for the 100% now with how the economy is, but putting up a deposit might be safer I suppose. How exactly does a deposit work, in other words lets say I want to get a bond for R1 000 000 what difference does it make if I put down R200 000 as a deposit VS asking for a loan of R800 000 instead?
  2. I think the bond originator gets paid by the bank so there should not be any costs to the seller, which is good - I just want to make sure that free service is not at my expense in terms of getting the best interest rate. IE, would a bond originator really be able to negotiate better than me, I mean I can sit with the banker and tell him if you give me a better rate I will swing my bank account or car loan over to you as well - I am assuming that is how negotiations with a bank works, and working on that assumption the question becomes; What leverage does the bond originator have over me going to the bank directly to ensure the best interest rate is given? For anyone else more experience reading the above, I am clearly out of my depth here and might be thinking about this all wrong. @Bandit what is your credit score and what percentage interest did you get? How was the experience using betterbond, assuming I go with them - any tips?
  3. I am in the process of buying a property (a Flat) and everyone in the process seems to take a cut and I am struggling to navigate where these cuts are justified and where to steer clear. Currently the agent told me to use their in house guy for the bond part instead of going through Ooba or Betterbond, I want to know if a bond originator is worth it and if I should instead go directly to the bank eliminating the fee working on the assumption the saving will be passed on to my rate maybe? Then if one should use a bond originator, why would I use their in house guy over a more established company with more pull/leverage like betterbond or ooba? @Bandit what did you do when you bought your place? The agency I am working through is Urban Index, I have never heard of them, but I had really great service from the agent and so far it feels like he has my interest at heart, but it's the property game at the end of the day so just want to double check what the wisdom is around this as I am a first time home buyer so very prone to be suckered into stuff I suppose.
  4. The country's biggest bank by customer numbers say nothing will change if and when the PSG Group sales its stake in Capitec Bank. Founding shareholders in the Mouton family announced on Wednesday morning that they may sell the stake in Capitec Bank because of changes in legislation that could substantially increase the administrative burden of holding their more than 30% stake in Capitec. PSG, which is owned by the family, said in a statement published on the Stock Exchange News Service (Sens) that it was "seriously considering" selling some or all of its stake in the bank. But Capitec CFO, André du Plessis says nothing will change as the bank is run independently and the unbundling will merely a corporate action not affecting is strategy or operations in anyway. "PSG Group explained its reasons for considering the potential unbundling of all or a part of their interest in Capitec to its shareholders in its cautionary of this morning. We understand their reasons and are comfortable with their decision of unbundling us in part or in full, or if they should decide not to proceed with their action," said Du Plessis. He said the bank has had a good relationship with many of PSG’s shareholders since 2000 and this has not changed. Capitec is PSG's largest investment and contributor to earnings. The legislative changes that have triggered the possible sale are included in the Reserve Bank's Draft Financial Conglomerate Prudential Standards, published by the central bank on March 5, which propose that financial conglomerates maintain a certain capital adequacy ratio from January 2022. Harry Botha, analyst at Avior Capital Markets, said he does not think that PSG's exit or reduction in its stake at Capitec will mean much for the bank operationally. "However, the market usually takes increased stock availability through share unbundling transactions negatively. Capitec has sold off over the last couple of days on speculation of an unbundling. So, the sell-off might not be too severe today," he said. Capitec's share price was more than 6% stronger on Wednesday afternoon after shedding as much as 8% in early morning trade. PSG shares' initial gains of under 5% were reversed by Wednesday afternoon and were almost flat by 5pm. "Given the substantial discount at which PSG Group shares trade to its sum-of-the-parts value, the board believes such an unbundling may unlock value," PSG, founded by the Jannie Mouton in 1998, said in a statement published on the Stock Exchange News Service. PSG is the biggest shareholder in Capitec, holding roughly 30.7% of the bank's issued stock. Other major shareholders of the bank include Limietberg Beleggings, the Government Employee Pension Fund and Lebashe Investment Group who all hold just over 7% stake each, the bank's 2020 AGM notice shows. PSG CEO and son of its founder, Piet Mouton, last week said the bank was one of the most resilient brands in the group when asked if any of its investments would require shareholder support in the wake of the Covid-19 pandemic. "Capitec is most probably the best run company in South Africa. They are extremely proactive about how they deal with any new challenge they face. They really understand the principles of the industry," he said in interview with Fin24 after presenting PSG's annual results.
  5. Rand crashes through R19/$ and is down more than 18% in the past month. SA was dealt another blow late on Friday when Fitch Ratings downgraded the country further into junk, just a week after Moody’s Investors Service stripped it of its last remaining investment grade. The rand extended its losses, crashing through R19/$. Fitch said it had cut SA one notch to BB from BB+ because the country lacked a “clear path towards” stabilising its debt position, a situation that would be worsened by the effect of the Covid-19 shock on economic growth and public finances. It maintained a negative outlook, meaning the next move is more likely to be further down the junk scale, because it saw “the prospect of further significant upside pressure on government debt and additional downside risks associated with the global shock”. The Fitch move came at the end of a difficult week for markets, with general volatility worsened by concern that SA’s credit-rating downgrade by Moody’s would lead to an exodus of funds, increasing government’s borrowing costs at a time when a shrinking economy will decimate its tax collection. While the Fitch move may be seen as less important than that of Moody’s, which put SA into junk with all three major companies and on course to fall out of key indices such as the FTSE World Government Bond Index, it reinforces negative sentiment towards an economy that slipped into recession even before the coronavirus outbreak. Like Moody’s, Fitch was pessimistic that the government would be able to renegotiate its three-year wage deal with public-sector unions, on which the numbers in the February budget were premised. The company also said that a new wage deal in 2021 was also “unlikely to result in the projected savings”. The rand weakened 2.84% to R19/$ at 6.27pm, down 7.28% for the week and 18.58% over the past month. Fitch said it expected the consolidated fiscal deficit to surge to 11.5% of GDP in 2020/21, which is more than the 8.5% predicted by Moody’s last week. Government debt, including that owed by municipalities, as proportion of GDP will jump to 80.2% in 2021/22, “well above the 2019 BB category median of 46.5%”. In his reaction, finance minister Tito Mboweni acknowledged that noninvestment grade ratings have undesirable implications for the whole economy. “To assure all South Africans, government is seized with addressing and minimising the impact of Covid-19, implementing measures to improve economic growth and setting government finances on a sustainable trajectory,” he said. Source: https://www.businesslive.co.za/
  6. South Africa’s Moody’s reprieve is over. The rating agency, the last to rate the country investment grade, has cut South Africa’s sovereign credit rating to junk in line with economists’ forecast. This comes as the country’s recession deepened by the impact of COVID-19 frustrates its economic reform efforts and stifles its plans to reduce government debt. The action will result in South Africa’s expulsion from the World Government Bond Index (WGBI), as a consequence those funds tracking this index as a benchmark will become forced sellers. Analysts have warned that the magnitude of this forced selling could be as high as $8 billion (R141 billion at R17.64 exchange rate). https://www.cnbcafrica.com/insights/sa-downgrade/2020/03/27/moodys-downgrades-sa-to-junk/
  7. The prime minister has mild symptoms and will self-isolate in Downing Street, but will continue to take charge of the government’s handling of the crisis. He posted a video on Friday morning on Twitter saying he has a temperature and a persistent cough. “I am working from home, I’m self isolating, and that’s entirely the right thing to do,” he said. “But be in no doubt that I can continue… to communicate with all my top team and lead the national fightback against coronavirus.” https://www.theguardian.com/world/2020/mar/27/uk-prime-minister-boris-johnson-tests-positive-for-coronavirus
  8. Not looking good so far with SASOL in there.
  9. If you have R500 laying around - there are worst ways you could spend that vs getting a little bit exposure to Bitcoin/Ethereum at the moment... These levels are rare, if you were on the sideline since crypto became mainstream, now is not a terrible time to get involved if you wanted to. Note: You will lose that R500 <= so make sure you can afford to lose it.
  10. What exactly is the reason for the current free fall in the SASOL share price? https://www.moneyweb.co.za/tools-and-data/click-a-company/SOL/ Sasol's return over the last: 7 days -72.66% 30 days -78.09% 90 days -80.24% 6 months -81.08% 1 year -87.54% 3 Years -85.64% 5 years -86.85 to date (12 March 2020 2:30PM)
  11. Figured I might as well carve this thread in stone.
  12. I think we need a thread called 'the 2020 financial crisis' This is shaping up to be something...
  13. The first case of #coronavirus has been confirmed in South Africa. https://www.businesslive.co.za/bd/national/health/2020-03-05-sa-confirms-first-coronavirus-case/
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