Welcome the new-look Investors Monthly. The title may no longer be a separate publication, but — as you will see — we are certainly not skimping on the investment content.
We are focusing unashamedly on shares — for now with a bias to the JSE — unit trusts and allied investments. There will be plenty of company coverage, which most readers have expressed a distinct preference for in correspondence in recent years.
As always, I am open to suggestions, including requests for companies you’d like to see covered. You know where to reach me.
It’s always interesting writing an opening editorial in mid-February with 2025 properly under way. At the time of writing the appeal of the gold market has broadened. When my tennis partners and opponents — who normally show scant interest in investments aside from heaping scorn on crypto — start asking me about Harmony and Gold Fields, I know things have got hot.
I am the last person anyone should ask for advice on gold … or any resources shares. I have a most dependable Midas touch. And watching the retreat (at the time of writing) in the share prices of AngloGold and Pan African Resources, I’m mighty glad I kept my opinions to myself.
The junior mining sector has its challenges too, with my favourites Merafe and Gemfields facing challenges, and the market still unenthusiastic over developments at Copper 360 and Jubilee. Kore Potash ... well, let me not subject that fine little venture to commentator’s curse.
Speaking of retreats, things look none too good for South African industrials. The share price drops in large industrial businesses such as ArcelorMittal, Metair and Hulamin are quite startling.
Hulamin, for one, looks morbidly fascinating at current prices. Will another suitor emerge here? Certainly, management will be kept on its toes by an activist investor that has built a significant minority stake in the business. Perhaps one for the bottom drawer — even if performance remains as frustratingly uneven as it has been in the past 10 years. Our coverage of Hulamin in this edition may pique investor interest further.
This edition, in terms of coverage, is a mixed bag of growth stocks, value opportunities, turnarounds and steady eddies. There should be something for everybody. Please enjoy.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.