Even Buffett makes mistakes. When he invested in 1966, Disney had a market cap of $90m. Now, 59 years later its $204bn. Providing a 14% CAGR. No wonder he would soon later start looking to buy and hold quality businesses. This one was trading on a PE of 5x! $DIS

Would you look at that, JSE Top 40 handsomely outperforming the S&P 500 year-to-date. Driven by Gold & PGM miners.

What is this ? An oil price spike for ants ?

"Half of your marketing expenses are pointless, but you don’t know which ones" - LVMH CFO, Jean-Jacques Guiony 🤣🤣

China had material tariffs on South African exports, so China dropping them is definitely a good development for us. About 10% of SA exports go to China while 8% go to the US.

Have to agree with this brokers Q2 comment this morning "Platinum up 37% for the Q, Palladium up 16.5%. These moves, coupled with record gold and rolling energy prices, means that SA’s terms of trade is approaching 10-year highs! I think hugely under-appreciated!"

All of a sudden that impenetrable moat (Network Effects, Scale Economies) investors ascribe to Amazon is starting to look a bit less impenetrable. Yes Amazon is far ahead, and it has many advantages, but it is still largely just a retailer. $AMZN

Not long ago Telkom $JSETKG was the share no one wanted to own. Now they are the only SA telco earning a marginal return above their cost of capital. Driven by their data-led strategy offsetting the decline of legacy voice. TKG's Mobile ROIC: - FY 25 15% - FY 24 11% - FY 23 6%

Challenges of investing in pharmaceutical companies with a high degree of certainty: - Drug development (clinical trials) has a high failure rate - Regulator (FDA) rejections can wipe out years of research spend - Once patents end, revenues can decline rapidly

NVIDIA IS NOW WORTH MORE THAN... WELL, BASICALLY EVERYONE ELSE Nvidia’s $4T valuation isn’t just historic, it’s comically massive. It’s now worth more than Meta and Alphabet combined. More than Microsoft. More than Apple and Amazon together. At this point, Nvidia could

Adcock “entered into discussions regarding a potential transaction, which if successfully concluded, may have a material effect on the share price” Potentially a take-over, either by Bidvest/third party Take-over price could be R65 (25% prem), closer to intrinsic value $JSEAIP

Asking the timeline, is FlySafair a monopoly? Signs to me that they may be: - High ticket prices due to weak competition - Pilot strike indicating their position as the dominant employer (employees having few options) I would be interested to here everyone's thoughts below

Samsung to supply Tesla with chips "Samsung agreed to allow Tesla to assist in maximizing manufacturing efficiency. This is a critical point, as I will walk the line personally to accelerate the pace of progress." - Musk Hopefully this helps Samsung improve their lower yield.

Woolworth food continues to perform, clothing struggles Food +9.4% in H2'25 ex Absolute Pets FBH sales +7% off a low base, with price inflation of 3.1%, 4-5% guide missed Fashion raised prices just 0.4% & management flagged an inventory overhang (more discounts likely) $JSEWHL

This blew my mind when flying in the US recently. Everyone had their blinds down in the middle of the day, and someone asked me to shut mine. No way! I may never get the chance to fly over the Great Lakes again.