December 03, 2015

JSEDirect 195: Year end portfolio and trading review

24 minutes

Simon Shares

Santova (JSE code: SNV) released results that had some dodge workings with the results. Last year they had some abnormal items in their HEPS that they were more than happy to accept. This year they're saying, no take those out to compare against this year as we didn't have the abnormal profits. Well hang on, you can't have it both ways. Either you include and compare or you don't. This is why I always only use diluted HEPS, none of this normalised HEPS nonsense. That all said I hold the stock and am happy.

The indices will be adjusting on 21 December with AngloGold Ashanti (JSE code: ANG) exiting the Top40 and that means no gold stocks left in the index for the first time ever. The gold industry is dying locally and has been for a while and this really just confirms that slow death spiral.

MTN (JSE code: MTN) has seen their fine reduced to USD3.2billion. A good reduction but still a massive number. The company also announced a series of "new operating structure and senior management changes" to prevent another fine happen. Frankly too late and also not as easy as just shifting some managers, this is about culture and that's deep rooted. I remain a happy non shareholder having sold when the news first broke.

We updated the momentum portfolio ad are proposing some changes. Check the video out here and give us your feedback on the changes.

Join us on 7 December for the last JSE Power Hour of the year at the JSE. Topic is 'positioning your portfolio for 2016' and being the last function of the year we'll have drinks afterward and we've invited all the speakers from the year so you can mingle and ask questions of them.

Year end portfolio review

Do your trading systems need tweaking?

What have your returns been?

What stocks are you keeping or looking to add?

Has your portfolio seen any style drift?

We Get Mail

Derek

Please could you let me know which two ETFs you chose for your initial investment and also which online investment platform you used?

Eben

Please explain how exchange rate fluctuations affect the DBX-Trackers ETFs that I buy/sell on the JSE.

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JSEDirect is an independent broadcast and is not endorsed or affiliated with, nor has it been authorised, or otherwise approved by JSE Limited. The views expressed in this programme are solely those of the presenter, and do not necessarily reflect the views of JSE Limited.

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