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 The Sharenet Daily 
Tuesday, 21 April 2015 - 20:00
Top News
SA Business
Company News
Company Results
World Markets (Spot Prices)
JSE Today
JSE Trading Statistics
Major Moves
Index Summary
Latest Consensus Changes / Results Expected
Recent Dividends / Ex Div
Upcoming AGMs
Stock Exchange News Service (SENS)

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Seed Weekly - Investment Greats ? Sir John Templeton

As a pioneer in both financial investment and philanthropy, the late Sir John Templeton spent a lifetime encouraging open-mindedness. Sir John Templeton was born in Tennessee 1912 and as many successful businessmen grew up poorly. He went on to study economics at Yale University with a scholarship. After graduating top of his class in 1934, was awarded the Rhodes scholarship where after he obtained a Masters in Law in 1936 from Oxford University. He returned to New York and started his long career in the investment industry.

His first firm was found in 1937, in the depths of the Great Depression. Under his name he created some of the world’s largest and most successful international investment funds. In 1992, he sold his Templeton funds to the Franklin Group, now known as the Franklin Templeton range of funds. He was a value contrarian investor – following a principle called “bargain hunting”. He took the strategy of "buy low, sell high" to an extreme, picking nations, industries, and companies hitting rock-bottom, what he called "points of maximum pessimism." When the war broke out in Europe in 1939, he borrowed money to buy 100 shares each of the 104 companies selling at one dollar per share or less, including 34 companies that were in bankruptcy. Only four of these companies turned out to be worthless, and he turned large profits on the others. He would take profits when values and expectations were high.

He rejected technical analysis for stock trading, preferring instead to use fundamental analysis and to invest into companies that offered low prices and an excellent long term outlook. Templeton believed that the best bargains were in stocks that were completely neglected - those that other investors were not even studying. Think about areas that other people are not thinking about. In this regard, he had an advantage not readily available to the average individual investor namely his residence in the Lyford Cay Club in the Bahamas, populated with successful businessmen from all parts of the world.

Templeton found he could easily exchange ideas and opinions with them in that attractive ambiance. For him, this worked better than networking with Wall Street contacts with limited information who were always trying to sell him something. Just like fellow legendary investor Phillip Fisher, Templeton systematically mined his numerous contacts for valuable, objective investment data, which in his case related to market conditions and investment targets around the world. Templeton became known for his "avoiding the herd" and "buy when there's blood in the streets" philosophy. "I've found my results for investment clients were far better here than when I had my office in 30 Rockefeller Plaza. When you're in Manhattan, it's much more difficult to go opposite the crowd."

Sir John Templeton’s 16 rules for investment success:

1. Invest for maximum total real return
2. Invest — don’t trade or speculate
3. Remain flexible and open minded about types of investment
4. Buy low
5. When buying stocks, search for bargains among quality stocks.
6. Buy value, not market trends or the economic outlook
7. Diversify. In stocks and bonds, as in much else, there is safety in numbers
8. Do your homework or hire wise experts to help you
9. Aggressively monitor your investments
10. Don’t panic
11. Learn from your mistakes
12. Begin with a prayer
13. Outperforming the market is a difficult task
14. An investor who has all the answers doesn’t even understand all the questions
15. There’s no free lunch
16. Do not be fearful or negative too often

Upon his retirement from the investment business, Templeton became an active philanthropist worldwide through his John Templeton Foundation, which focuses its donations on spiritual and scientific research. He attributed much of his success to his ability to maintain an elevated mood, avoid anxiety and stay disciplined. He slammed consumerism, drove his own car, never flew first class and lived year-round in the Bahamas. As a naturalized British citizen living in the Bahamas, Templeton was knighted in 1987 by Queen Elizabeth II for his many accomplishments in philanthropy. Templeton died in 2008 at the age of 95.

Keep well,

Lourens Rabé

Investopedia, Forbes, Wikipedia, templeton.org

021 914 4966

Tue, 21 Apr 2015
Top News
South Africa's rand firmed on Tuesday as worries over Greece pushed Europe's common currency lower while emerging market assets recovered earlier losses.  Full story

Local markets The JSE finished in the black today, up 0.56% with gains almost across the board except for resources which fell 1.06%.  Full story
Muslim Brotherhood leader Mohamed Mursi was sentenced to 20 years in prison without parole on Tuesday on charges arising from the killing of protesters, nearly three years after he became Egypt's first freely elected president.  Full story
A suicide bomber from the Somali militant group al Shabaab on Tuesday rammed a car laden with explosives into a busy restaurant in the capital Mogadishu, killing at least 10 people and wounding more than a dozen others.  Full story
Japanese Prime Minister Shinzo Abe sent a ritual offering on Tuesday to a Tokyo shrine for war dead, irking Asian neighbours just before he hopes to meet Chinese President Xi Jinping on the sidelines of a leaders' summit in Jakarta.  Full story
Wall Street equities were mixed and stocks on European and world markets moved higher on Tuesday, boosted by strong corporate earnings, while the. . .  Full story
Gold steadied below $1,200 an ounce on Tuesday after its biggest one-day loss in a week, under pressure from a rising dollar and. . .  Full story
Hong Kong stocks posted their biggest daily gain in two weeks on Tuesday on signs that investors in mainland China are keen to. . .  Full story
China stocks jumped on Tuesday as bullish investors piled into small-cap stocks, betting on further gains despite stretched valuations and a warning from official. . .  Full story

Australian shares rose on Tuesday as investors belatedly cheered China's boost to bank lending, and a rebound in iron ore prices spurred resources higher.. . .  Full story
Japanese stocks rose on Tuesday as hopes for strong corporate earnings, buoyed by major automakers and electronics manufacturers. The Nikkei. . .  Full story
Equity markets rebounded on Monday after China took steps to stimulate its economy and Wall Street also rose on corporate earnings, while the. . .  Full story
Gold fell below $1,200 an ounce on Monday as equities rallied and the dollar steadied, while traders assessed China's new policy measures to. . .  Full story
SA Business
South African power utility Eskom will switch off 1,000 megawatts of electricity for five hours between 1500 GMT to 2000 GMT. . .  Full story
The South African central bank's leading business cycle indicator fell 0.3 percent month-on-month in February, triggered by a drop in the. . .  Full story
South African power utility Eskom said on Monday its first large-scale renewable energy plant, the 100 megawatt Sere Wind Farm, was. . .  Full story
South African grocer Pick n Pay posted a 28 percent rise in full-year profit on Tuesday, helping grow dividend payouts for. . .  Full story

Turkish companies could be left struggling to service foreign currency debts following a sharp decline in the lira this year, squeezing profits and investment and further hampering economic growth.. . .  Full story
Oil prices could weaken again but they are unlikely to plumb new depths this year, leading commodities traders said on Tuesday, citing strengthening demand.. . .  Full story
South African household goods firm Steinhoff has offered 1.2 billion rand ($99 million) for shares it does not already own in furniture retailer JD Group, it said on Tuesday.. . .  Full story
Company News
On 20 April 2015, Standard & PoorĂs Ratings Services (S&PĂs) re-affirmed the long-term South Africa national scale rating of Eqstra as. . .  Full story
RBPlat announced the death of an Aveng contract employee at its Styldrift I Project. The employee who was employed as. . .  Full story
The board of directors of both Steinhoff and JD Group Ltd. ("JD Group") herewith announce that Steinhoff has made an offer. . .  Full story
Taste announced that it has successfully raised R94 775 007.65 through the issue of 31 073 773 Taste shares (˘subscription shares÷). . .  Full story
Company Results
The will be the maiden final results for Atleaf. Total income for the period was GBP1.9 million. While total profit for. . .  Full story
Revenue for the interim period jumped to R59.5 million (2014: R31 million), profit attributable to equity holders of the parent was. . .  Full story
Revenue for the year lowered to R2.250 billion (2014: R2.280 billion). Operating profit rose to R143.8 million (2014: R125.3 million), while. . .  Full story
Revenue for the year increased 6.2% to R67.6 billion (2013: R63.7 billion). Trading profit surged by 22.9% to R1.2 billion (2013:. . .  Full story
World Markets (Spot Prices)
NameTimeRPMove% Move
JSE Overall17:0054140.93301.220.56%
JSE Top 4017:0047827.43254.560.54%
JSE Gold17:001373.1631.532.35%
JSE Financial17:0046796.90316.120.68%
JSE Industrial17:0077237.45680.990.89%
JSE Indust 2517:0068786.40623.250.91%
JSE Resource17:0041360.99-442.97-1.06%
DJ Futures19:5817881.00-62.00-0.35%
DJ Ind19:5817956.43-78.50-0.44%
SP 50019:582097.20-3.20-0.15%
FTSE 10017:357062.9310.800.15%
All Ords08:355844.0037.200.64%
NZSE 5007:455817.52-6.76-0.12%
NameTimeRPMove% Move
Gold $19:591202.836.450.54%
Gold R19:5914589.3869.860.48%
Gold R/kg19:5846890920450.44%
Silver $19:5916.0260.06000.38%
Platinum $19:591148.903.900.34%
Palladium $19:59772.534.030.52%
Brent Crude19:5862.62-.83-1.31%
Rand / Dollar19:5912.1281-0.0050-0.04%
Rand / Pound19:5518.09260.02600.14%
Rand / Euro19:5513.0362-0.0058-0.04%
Rand / NZD19:599.31360.01220.13%
Rand / AUD19:559.3650-0.0205-0.22%
Yen / Dollar19:59119.63200.38000.32%
Euro / Dollar19:590.9304-0.0009-0.10%
Dollar / Euro19:591.07480.00100.09%
Pound / Dollar19:550.6692-0.0018-0.26%

Click here for the Sharenet Spot Price page
The JSE Today

Trading Statistics
* Includes all listed instruments on the JSE
Major Moves Up
SharenameSaleMove% MoveVolume
1 GOLIATH  17090112.50.%14682
2 JDGROUP  330050017.86.%3024628
3 ILIAD  830658.50.%35826
4 ACSION  1075767.61.%460
5 MASONITE  33002006.45.%178
6 TRUSTCO  335196.01.%281156
7 MARSHALL  1500845.93.%66580
8 HARMONY  24341365.92.%621444
9 TASTE  330185.77.%202717
10 INVICTA  74893745.26.%61998
11 DRDGOLD  244125.17.%62214
12 MASTDRILL  1495704.91.%53523
13 PIKWIK  23351084.85.%367024
14 PICKNPAY  53882384.62.%3065894
15 POYNTING  250114.60.%33460
16 CENRAND  235104.44.%10000
17 PNR-FOODS  189847774.27.%117624
18 NASPERSN  19029572953.99.%1362897
19 EASTPLATS  1650503.12.%14750
20 TONGAAT  134004003.08.%105669

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Major Moves Down
SharenameSaleMove% MoveVolume
1 NHMN  350-105-23.08.%557955
2 SABVEST  3000-500-14.29.%400
3 RANGOLD  218-30-12.10.%100
4 KIBO  125-15-10.71.%91549
5 CSG  165-18-9.84.%54750
6 ASSORE  10488-920-8.06.%383165
7 DIAMONDCP  171-14-7.57.%25500
8 FINBOND  470-30-6.00.%305976
9 ENX  235-15-6.00.%417026
10 EXXARO  8765-532-5.72.%756515
11 ASTRAPAK  368-22-5.64.%1200
12 AEEI  333-17-4.86.%102145
13 AVENG  1090-55-4.80.%936973
14 FAIRVEST  200-10-4.76.%17
15 CADIZ  102-5-4.67.%248690
16 MRHLD  1255-60-4.56.%808386
17 HUGE  315-15-4.55.%44800
18 SANTOVA  362-15-3.98.%58559
19 BRIMST-N  1684-66-3.77.%5000
20 AFROX  1427-53-3.58.%91729

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New Highs
SharenameSaleHighMove% MoveVolume
1 JDGROUP  3300332350017.86.%3024628
2 CURRO  381038211102.97.%165157
3 PSG  19246193755462.92.%412464
4 INVLTD  11067110673002.79.%1006853
5 INVPLC  11107111772872.65.%1619725
6 CAT  18501850452.49.%200
7 PIVOTAL  22502300502.27.%234733
8 MEDCLIN  13075131481250.97.%951572
9 ZEDER  88490540.45.%1584323
10 AME  900090500.87000
11 VODACOM  1431014667-105-0.73.%1830515
12 RMIH  47764894-44-0.91.%1030287
13 CONDUIT  231250-4-1.70.%42683

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New Lows
SharenameSaleLowMove% MoveVolume
1 SABVEST  30003000-500-14.29.%400
2 CSG  165150-18-9.84.%54750
3 EXXARO  87658631-532-5.72.%756515
4 ASTRAPAK  368368-22-5.64.%1200
5 ROLFES  300288-1-0.33.%572290

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Index Summary
Index NameRPMove% Move
Top 4047,810.59237.720.50%
Mid Cap76,101.97163.290.22%
Small Cap60,453.3921.300.04%
Resource 2041,899.7895.820.23%
Industrial 2568,587.10423.950.62%
Financial 1517,716.2738.960.22%
Financial & Ind. 3073,810.00422.120.58%
All Share54,125.91286.200.53%
Oil & Gas 30,645.16169.310.56%
Mining 25,363.4293.510.37%
Gold Mining1,359.0217.391.30%
Platinum Mining30.77.120.39%
GENERAL MINING7,309.3016.230.22%
Oil & Gas Producers 16,477.3491.040.56%
Basic Materials 23,903.8350.840.21%
Chemicals 23,855.55-142.64-0.59%
Forestry & Paper 41,445.64271.570.66%
Industrial Metals 8,644.4728.720.33%
Industrials 47,191.74139.270.30%
General Industrials 168.60.680.40%
Consumer Goods 66,989.4588.250.13%
Automobiles & Parts 7,955.04-124.55-1.54%
Household Goods530.8450.94%
Health Care 11,027.2141.850.38%
Beverages 223.14-.70-0.31%
Index NameRPMove% Move
Food Producers 8,950.02-1.50-0.02%
Personal Goods 1,045.706.190.60%
Consumer Services 16,881.31311.431.88%
General Retailers 86,925.23-96.08-0.11%
Travel & Leisure 6,444.4932.700.51%
Media 410.6011.672.93%
Support Services 2,878.954.770.17%
Telecommunications 11,197.8661.150.55%
Financials 46,671.48190.700.41%
Banks 83,937.01299.280.36%
Non-life Insurance 58,514.77324.140.56%
Life Insurance 44,689.07240.780.54%
General Financial 4,390.4343.150.99%
Technology 60,661.99430.050.71%
SHARIAH TOP40 3,674.01110.30%
FTSE/JSE SHARIAH ALL3,936.36110.28%
COAL MINING11,541.92-211-1.80%
FTSE JSE Fledgling 6,896.2970.11%
FTSE/JSE Alt X 1,307.23-0-0.03%
RESOURCE 23,020.53850.37%
DIVIDEND PLUS236.9010.24%
FTSE/JSE RAFI 4010,118.19290.29%
Capped Top 4025,517.151200.47%
Capped All Share27,453.651450.53%
JSE TABACO 8,663.65-10-0.11%

Click here for the Sharenet Index Summary page
Latest Consensus Changes**
CodeCompany NameStatusUpdated
Results Expected**
ExpectedCompany NameFin. Date
22/04/2015AEEIFebruary 2015 (Interim)
22/04/2015CMHFebruary 2015 (Final)
22/04/2015CMH PREFFebruary 2015 (Final)
22/04/2015SACMHDecember 2014 (Final)
22/04/2015SEKJALOAFebruary 2015 (Interim)

Recent Dividends**
Share NameDec-DateLDTPay-DateAmount
FPT17/04/1508/05/1518/05/15ZAR 0.3060
REBOSIS16/04/1508/05/1518/05/15ZAR 0.5246
FINBOND16/04/1508/05/1518/05/15ZAR 0.0340
PSG15/04/1530/04/1511/05/15ZAR 1.4500
EFFICIENT14/04/1530/04/1511/05/15ZAR 0.0588
Ex Div**
Share NameDec-DateLDTPay-DateAmount
ILRPREF131/03/1517/04/1528/04/15ZAR 12.7513
STANBANK05/03/1517/04/1528/04/15ZAR 3.3900
ACUCAP10/04/1517/04/1528/04/15ZAR 1.7263
SYCOM10/04/1517/04/1528/04/15ZAR 0.9898
METAIR26/03/1517/04/1528/04/15ZAR 0.8000

Upcoming AGMs**
CodeCompany NameDateStatus
HLMHulamin Ltd.23/04/2015Confirmed
HULAHulamin Ltd.23/04/2015Confirmed
HULBHulamin Ltd.23/04/2015Confirmed
THATharisa plc23/04/2015Confirmed

Stock Exchange News Service
21/04/201517:00OLD MUTUAL PLC - Notification of Transactions of Directors/Persons Discharging M...
21/04/201517:00PSG KONSULT LIMITED - Acceptance Of Options By Directors In Terms Of The PSG Kon...
21/04/201516:59SYNTHESIS FUNDING LIMITED - New Financial Instrument Listing - SY1236
21/04/201516:52BEIGE HOLDINGS LIMITED - Update on publication of interim results for the six mo...
21/04/201516:45ABSA BANK LIMITED - ASN058 - Draft New Financial Instrument
21/04/201516:33VISUAL INTERNATIONAL HOLDINGS LIMITED - Renewal of Cautionary Announcement
21/04/201516:25BRIMSTONE INVESTMENT CORPORATION LD - Results of Annual General Meeting
21/04/201516:15INTU PROPERTIES PLC - Notification of Major Interests in Shares
21/04/201515:52SATRIX COLLECTIVE INVESTMENT SCHEME - Announcement Regarding No Distribution Dec...
21/04/201515:52SATRIX COLLECTIVE INVESTMENT SCHEME - Distribution Finalisation Announcement - Q...
21/04/201515:51SATRIX COLLECTIVE INVESTMENT SCHEME - Distribution Finalisation Announcement - Q...
21/04/201515:48SATRIX COLLECTIVE INVESTMENT SCHEME - Distribution Finalisation Announcement - Q...
21/04/201515:46SATRIX COLLECTIVE INVESTMENT SCHEME - Distribution Finalisation Announcement - Q...
21/04/201515:45SATRIX COLLECTIVE INVESTMENT SCHEME - Distribution Finalisation Announcement - Q...
21/04/201515:40OLD MUTUAL PLC - Public Opening Position Disclosure/Dealing Disclosure by a Pers...
21/04/201515:38HARMONY GOLD MINING COMPANY LIMITED - Harmonys production guidance for quarter 3...
21/04/201515:33EQSTRA HOLDINGS LIMITED - Standard & Poors ratings services affirmed Eqstra's So...
21/04/201515:30ROYAL BAFOKENG PLATINUM LIMITED - Fatal accident at RBPlats Styldrift I Project
21/04/201515:20OLD MUTUAL PLC - Public Opening Position Disclosure/Dealing Disclosure by a Pers...
21/04/201515:18TORRE INDUSTRIES LIMITED - Share Dealings by a director of Torre
21/04/201515:11STANDARD BANK OF SOUTH AFRICA LD - SCIB: The Standard Bank of South Africa Limit...
21/04/201515:10HARMONY GOLD MINING COMPANY LIMITED - Harmonys production guidance for quarter 3...
21/04/201515:00CAMAC ENERGY INCORPORATED - CAMAC to present at upcoming energy conference
21/04/201514:45PSG GROUP LIMITED - Dealing in PSG shares by directors and/or Their Associates
21/04/201514:18EFFICIENT GROUP LIMITED - Dealing in securities by a director of EFG
21/04/201514:00KIBO MINING PLC - Kibo Mining raises 1,500,000 in Share Placing
21/04/201513:40OLD MUTUAL PLC - Public Opening Position Disclosure/Dealing Disclosure by a Pers...
21/04/201513:30OLD MUTUAL PLC - Public Opening Position Disclosure/Dealing Disclosure by a Pers...
21/04/201513:15SHOPRITE HOLDINGS LIMITED - Dealing in securities by alternate director of main ...
21/04/201512:59STEINHOFF INTERNATIONAL HOLDINGS LTD - SHF\JDG - Firm Intention by Steinhoff to ...
21/04/201512:18TORRE INDUSTRIES LIMITED - Share dealings by a director of Torre
21/04/201512:12ZEDER INVESTMENTS LIMITED - Exercise Of Options By A Director
21/04/201512:08TASTE HOLDINGS LIMITED - Taste Raises R95 Million For Further Expansion
21/04/201512:00ROYAL BAFOKENG PLATINUM LIMITED - Directors' and Company Secretary Dealings in T...
21/04/201512:00COMBINED MOTOR HOLDINGS LIMITED - Cautionary announcement
21/04/201512:00Combined Motor Holdings Limited - Financial Results For The Year Ended 28 Februa...
21/04/201511:37IVUZI INVESTMENTS LIMITED - IVA517 - Full Capital Redemption
21/04/201511:15NUTRITIONAL HOLDINGS LIMITED - Trading Statement
21/04/201510:59INVESTEC BANK LIMITED - EXXIHD, KIOIHG, TBSIHA - new listing
21/04/201510:18BUFFALO COAL CORP - Notice of Record and Meeting Dates for Annual and Special Me...
21/04/201510:00THE DB X-TRACKER COL INVEST SCHEME - Listing of additional securities - DBXEU
21/04/201508:15TAWANA RESOURCES NL - ESIA Advancement Community & Social Consultation Meetings ...
21/04/201508:07REBOSIS PROPERTY FUND LIMITED - Correction announcement: Unaudited results for t...
21/04/201508:00CONSOLIDATED INFRASTRUCTURE GRP LTD - Unaudited consolidated interim results for...
21/04/201507:06PICK N PAY HOLDINGS LIMITED - Audited summary financial statements for the 2015 ...
21/04/201507:05MARSHALL MONTEAGLE PLC - Disclosure of a beneficial interest in securities
21/04/201507:05PICK N PAY STORES LIMITED - Audited summary financial statements for the 2015 fi...

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