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Is sentiment the new fundamental?

19 September 2017 | General

Patrice Rassou, head of equities at Sanlam Investment Management, explains the role that sentiment (fear and greed) plays in market movements.

Current account deficit not a hurdle to further rate cuts

19 September 2017 | Economy

South Africa’s current account deficit unexpectedly widened to 2.4% of gross domestic product (GDP) in the second quarter, from 2% of GDP in the first quarter. The current account balance, published by the Reserve Bank, measures current transactions between South Africa and the rest of the world involving goods, services, income and transfers.

Sanlam Investments Market review: August 2017

15 September 2017 | Economy

Locally, August was the month that saw Parliament vote (again) on a motion of no confidence in President Jacob Zuma, resulting in 198 votes against the bid to remove the president and 177 for the motion. And the plight of SA low- or no-income citizens remain concerning as SA unemployment persists stubbornly at the 27.7% level. Because Moody’s views the situation in the country as ‘largely unchanged’ the agency announced shortly after the vote of no confidence that it is delaying its ratings decision on the SA sovereign. Good news arrived in the form of slowing consumer inflation, surprising at 4.6% in July, down from 5.1% for the previous month. Producer inflation eased too - to 3.5% - and hence there is a case for a disinflation outlook, even if fuel hikes lead to a temporary short-term inflation acceleration.

What characteristics make a retail stock an attractive value investment?

14 September 2017 | General

In addition to a suitably cheap valuation, another important factor for value investors is the strength of a business’s balance sheet and particularly the amount of borrowing it may – or may not – reveal.

quick poll

Question

The strongest deterrent against FSP compliance missteps is or should be:

Answer

A criminal conviction Debarment Fine or penalty Any of the above can work

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