Over 1 million people who were gainfully employed a few weeks ago could find themselves without jobs post lockdown. And that’s just the start, as South Africa’s creaking economy grinds to a halt. But all is not lost, says leading labour expert Andrew Levy. This podcast was originally published as part of Investec’s Coronavirus series.
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Banks are expecting a $5 trillion loss from all the coronavirus related economic inactivity. The All Share Index is up 4%, which is a disconnect from the real world economy. Sasol's share price is up 73%... what is going on there? Volatility is at an all time high on the markets, even beyond 2008 numbers. Is lockdown a good time to be online trading? Crowd1 - be careful, do research before signing up. China reopening its economy has been interesting. And the World Bank has some scary predictions for Sub-Saharan economies.
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Fourteen months into the journey as the owner and co-founder of Revix, Sean Sanders is a leading light in the economic reality that we may live in after the lockdown crisis. Terms like 'tokenised gold' will become a part of financial literacy sooner than we thought, and that's riveting. Investing is not easy at the best of times. Revix is an intelligent investment platform and they are running a 10-day fully insured investment special between R200 and R100 000. Terms and conditions apply. For more details click here, and use the code: REVIXEASTER.
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Edcon has been teetering for a while, but the Covid-19 lockdown may very well be the coup de grace which deems the company defunct. Mr Price has delayed the release of its reports during the lockdown, and there are murmurs that bonuses and raises for their executive staff may be frozen until further notice. Moody's has finally dropped the hammer and South Africa is now officially at junk status. How will this affect South Africa, from the Reserve Bank to the citizen who is paying a bond and school fees? Will Covid-19 be harder to recover from than the market crash of 2008?
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Cryptocurrency… invest here, there and everywhere… or do we have to just start going back to keeping our cash underneath the mattress? Where does the future of money lie? In these times of uncertainty and volatility, perhaps this is a conversation that will shed some light in helping you answer that question. Gareth chats to Troy Gold's Dane Viljoen, Luno's Marius Reitz, and World Wide Worx's Arthur Goldstuck about the future of money.
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We’re in a bear market now, that’s not great news. In the USA, central banks will cut interest rates and pump “easy money” into the system. We saw quantitative easing in 2008, and what did the banks do then? Sasol are struggling, but do we just need to calm down? As an investor, when is the best time to buy/sell shares? Anthea gives her post Covid-19 hopes for South African consumers.
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Seleho is quite clear about where you shouldn’t put your money as corona fear spreads throughout the market. Has South Africa stayed with the markets of the world in terms of growth? The blue and green banks of South Africa have posted contrasting results... it’s amazing to see the polarity. Ye old faithful Bidvest continues to offer value in a shrinking economy, how are they so robust? OPEC is at loggerheads internally, and Anglo American declares a force majeure.
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This week we saw the biggest decline on the markets since the global financial crisis of 2008. If you are a long term investor, don’t panic. Tito’s speech contained no tax increase... what a miracle. Can he cut the public sector wage bill though? How much more debt can South Africa take on before the Rand blows out? Sasol have had another shocker. BHP Billiton have had impressive reports and are just ticking along nicely. But Shoprite results are not as good as the books might suggest.
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Coal consumption has been reduced by 50% in China, the coronavirus has almost halted the Chinese economy. Economists are downgrading economic growth worldwide because China’s activity affects the world at large. It’s Budget Speech week and Anthea has a less than positive take on the prospects beyond Tito’s address. How will Moody’s deal with South Africa after they hear the budget speech? Discovery Group have had a mixed year of activity and Vitality Life numbers are no good. Truworths have been bullish in a tough economy. And Woolworths… oh dear, the less said the better.
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