Take advantage of the Rand strength before it's too late - Invest Offshore
Rand strength over the last two months is now providing another opportunity for you to review offshore investment allocations. I'm always amazed at how many clients scramble for offshore investment after the horse has bolted and dither when they should take action.
Finova's global portfolio returned 2,65% in USD for the 12-month period to 30 June 2020, a period that includes the Covid-19 Market crash. In Rand terms that is a return of 26,8%, compared to the JSE All Share index which fell 5%.
Don't delay, contact me directly for more information on our offshore solutions.
TFG breaches protective stop loss for a 133% geared gain
TFG announced it will be buying Jet from Edcon. It has offered R480 million for the commercially viable stores, distribution center and R800 million stock on hand. This has seen buyers come in and push TFG through our trailing stop loss. You should be out with a tidy profit.
Bidcorp weakness gaining momentum
Bidcorp gapped lower at the open yesterday but buyers pushed it back above R280. We should see some selling pressure drive the share lower as investor sentiment wanes globally.
Adjust your stop loss to your entry point to reduce your risk.
Longer term value opportunities
Our recent buys in EOH, BLU and DGH are still at below the entry levels suggested last week. We see these as good long term value plays for a portfolio.
Here’s the entry levels…
• Buy Blue Label below R3
• Buy EOH below R5.50
• Buy Distell below R77.50
See you next week.
Contributing Editor, Money Morning