Podcast episodes
Season 7
Investment Idea: Aspen - 25 March 2025
Our team of skilled analysts recently reviewed their Aspen recommendation. Listen to this recording to find out which factors they considered to reach their buy recommendation. The opinions expressed in these podcasts are the opinions of the series and not necessarily those of PSG. The information in these podcasts is provided as general information. It does not constitute financial, tax, legal or investment advice and PSG Financial Services does not guarantee its suitability or potential value. Since individual needs and risk profiles differ, we suggest you consult your qualified financial adviser, if needed. PSG Wealth Financial Planning (Pty) Ltd is an authorised financial services provider. FSP 728.
Budget 2025: Exploring the key changes in the 2025 budget speech and the impact on the South African economy: PSG Think Big Series
Budget 2025: Exploring the key changes in the 2025 budget speech and the impact on the South African economy: PSG Think Big Series
Mr Christopher Axelson: Acting Deputy Director General: Tax and Financial Sector Policy Facilitated by Alishia Seckam: Broadcast and financial journalist. Mr Christopher Axelson, Deputy Director at National Treasury and Acting Head of Tax and Financial Sector Policy, will provide an in-depth analysis of the budget speech delivered by the Minister of Finance on 12 March. He will cover key changes, the main drivers of growth and infrastructure development, and the budget’s impact on the South African economy. The series is a collection of dialogues with high-value speakers hosted by broadcast and financial journalist Alishia Seckam. Each topic addresses burning issues that are concerning South Africans in these uncertain times. The Think Big series aims to empower you with factual evidence and manage expectations on various aspects of how the current situation could unfold. https://www.psg.co.za/news-and-publications/events-and-webinars The opinions expressed in these podcasts are the opinions of the series and not necessarily those of PSG. The information in these podcasts is provided as general information. It does not constitute financial, tax, legal or investment advice and PSG Financial Services does not guarantee its suitability or potential value. Since individual needs and risk profiles differ, we suggest you consult your qualified financial adviser, if needed. PSG Wealth Financial Planning (Pty) Ltd is an authorised financial services provider. FSP 728.
Investment Idea: Sasol Limited - 14 March 2025
Our team of skilled analysts recently reviewed their Sasol recommendation. Listen to this recording to find out which factors they considered to reach their buy recommendation. The opinions expressed in these podcasts are the opinions of the series and not necessarily those of PSG. The information in these podcasts is provided as general information. It does not constitute financial, tax, legal or investment advice and PSG Financial Services does not guarantee its suitability or potential value. Since individual needs and risk profiles differ, we suggest you consult your qualified financial adviser, if needed. PSG Wealth Financial Planning (Pty) Ltd is an authorised financial services provider. FSP 728.
Investment Idea: Sibanye Stillwater - 27 February 2025
The recent transaction and events from Sibanye Stillwater: The long-term platinum price is expected to range between $900 and $1 100 due to an increasing demand for Electric Vehicles (EVs) making up a larger percentage of global car sales. Lower prices Platinum Group Metals will reduce supply, supporting prices. The ZAR platinum price has shown consistent growth over the long term, indicating a favourable price trend that is likely to support local PGM producers. The intrinsic value is R23.23 with a 36% upside but Sibanye remains a HOLD because of the following risks and recent events: A probability of 35% that the platinum price will decline to unsustainable operating levels, resulting from: A strong uptick in EV demand resulting in an increased share of total sales. The Russia-Ukraine war ending, leading to reduced sanctions on Russia, and increased Russian PGMs reaching the open market. Tariff war on car imports and exports. Higher than anticipated inflation leading to higher interest rates. Reduced jewellery demand with global growth under pressure with more cost-effective alternatives.
Investment Idea: British American Tobacco - 25 February 2025
After two years of declining cigarette volumes, the revocation of the menthol ban should mitigate declining volumes, although negative volumes are still expected. Key points in the investment thesis are:Management states that illicit vapour in the US account for 60% of sales. The FDA is moving too slowly at the frustration of management. Aim for 50% smoke-free products by 2035. US cigarette sales surprised on the downside with volumes down in the low teens single digits in the past 18 months. This was against the expectation of 3-5%. Going forward it is expected at low single digits, and the revocation of the menthol ban should help. £900m in share buybacks expected in FY25. Net Debt/EBITDA expected to be below 2.5x upon results on 13 February which should prompt additional buyback plans. NGPs still growing strongly and have turned to a profit, and BATS has the highest market share in bo