Plague diary — week six: if only my old rugby coach could see me now, side-stepping deftly off my left foot like a real-deal flyhalf. He would surely have forgotten my past trespasses, seeing me cutting untouched through the huffing crowds that now bustle on my running routes during the crammed exercise hours.
This all brings back memories of my less-than-stellar tenure as the flyhalf for the Muir College "fighting fifths" rugby team back in 1984. I skippered a team where a number of us were not averse to taking pre-match Dutch courage liberally from (in those dark days) a coveted bottle of "Stollies".
I recall one particular occasion when my already limited onfield "generalship" was further curtailed by my inside centre who, after sizing up the opposing brute from the local technical school, advised: "Don’t even think of passing to me." Under strict instructions from the coach not to kick away precious possession, I took my only option — a slow-motion left jink infield.
Think Philippe Sella, laden with a bag of cement on each shoulder and legs tied together. I was violently arrested by a surprisingly mobile prop called Sheriff (who, if I recall correctly, donned a brand-new pair of wrestling boots for the occasion).
The ball unceremoniously popped out of my hands, and the rest is history (in the form of a record defeat that I’m certain still stands today).
When my vision and wind were restored, I saw our apoplectic coach gesticulating in a frightening fashion — wielding one of those stick chairs with a dangerously pointy end. I thought it prudent to forgo the restorative half-time huddle and take the team on a brisk jog to the safety of the far end of the field.
Speaking of tactical retreats, last week I opted for some profit on my holdings in British American Tobacco, Reinet, Naspers and NewGold. The initial euphoria over banking some decent (not spectacular) profits was muted as my enthusiasm to prey on a weaker market was offset by the rand reversing its strong gains from last week.
I did nibble at Sabvest — whose online shareholder meeting I frustratingly could not access — as well as Adcock Ingram, Brimstone (read: Sea Harvest/Oceana) and Premier Fishing & Brands. I also started small positions in Mix Telematics and Telkom (under R20) as well as ETFs Satrix Divi Plus and CoreShares Smart Beta.
With the economy starting to open up, I’m also keeping tabs on passenger transport group Hosken Pax and logistics specialist Value Group as well as hotel operator City Lodge.
Taking a gamble
In terms of a "significant" trade of the week, I should report the switching out of Hosken Consolidated Investments (HCI) into HCI-controlled Tsogo Sun Gaming at 270c. This is a price I would a few months ago never have thought possible, under even the direst economic circumstances.
Admittedly, things are grim right now for the leisure sector. It is unlikely casino venues are top of agenda for the reopening of even limited business.
But I suppose the dour sentiment for Tsogo — which has casinos, electronic bingo terminals, limited payout machines and sports betting, not to mention 15% of the GrandWest Casino in Cape Town — is also being informed by the abstemious overtones from the National Command Council. With my holding in investment company RECM & Calibre Ltd (which controls alternative gaming group Goldrush), I am not exactly going to prosper if puritanical policies take hold during and in the aftermath of the Covid-19 pandemic.
But I’m betting that it’s not possible to regulate all the fun out of South Africans’ lives, though there are days when it’s difficult to cast off a creeping sense of repression. So cue the first track on Ty Segall’s Twins album — and keep the faith while side-stepping the market’s many obstacles.
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