KJ.RSA

[KJ.RSA @kRSA91]

Got smoked in 2025, but pleased with how things have gone since I began ~10 years ago.

[KJ.RSA @kRSA91]

@Chapter11Wealth Should rather be repurchasing shares at the current price.

[KJ.RSA @kRSA91]

Weaver Tech's $JSEWVR PayJustNow🚀

https://t.co/H6pLnfolaD

[KJ.RSA @kRSA91]

@hazelwood_dave Big sticky insurance float (>R800m) on small equity base (R150m). They provide Alt Risk Transfer insurance through Corporate Guarantee, there was a supportive court ruling late last year https://t.co/unoVPzaCqJ
, which lowers the risk the model is upended. Very illiquid though.

[KJ.RSA @kRSA91]

@hazelwood_dave

[KJ.RSA @kRSA91]

Plausible? or far-fetched? $RMH RMH recovered quickly after the initial shock of the announcement...

[KJ.RSA @kRSA91]

Plausible? or far-fetched? $RMH RMH recovered quickly after the initial shock of the announcement...

[JSE_SENS @JSE_SENS]

RMH Disclosure of significant holding of RMH Ordinary Shares https://t.co/aZp3kpoYLQ

[KJ.RSA @kRSA91]

Heriot and Safari REIT doing minorities dirty:

NAV: R11.47
Pre-deal share price: R8.00
Offer Price: R8.00 - 30% discount

Yield 9.3%, vacancies 2%, LTV 32%, rental rev. >10%.

Liquidity event my ass - I'm happy to collect my growing 9.3% yield.
#JSE #REITs

[KJ.RSA @kRSA91]

@TheLongInvest The patent in India as far as I know has expired/expiring early next year.

[KJ.RSA @kRSA91]

@EasyEquities @ShareGalCarly How is this good advice to the people you purport to be serving.

The maths: borrowing
@14.5% to invest in an asset that will likely underperform that = negative carry.

TFSA=smart
Borrowing @14.5% to fund it=terrible idea

The Math - is not mathing

[KJ.RSA @kRSA91]

@Micylaaa @JohannBiermann1 The flies will love you. 😅

[KJ.RSA @kRSA91]

@EasyEquities Fartcoin please - I can smell the gain$$$$

[KJ.RSA @kRSA91]

@iamkoshiek Seems like a wider than JSE problem. I read in the US for example that the number of listings is down from >8000 25 years ago to around 3500-4000 today, whilst the UK and Germany have also experienced a significant decline in public listings.

[KJ.RSA @kRSA91]

@mihaljevic Management also said they expect a free cash loss of 5-10Bn for the FY'24 I think. They lost around 6-700m in first half of year. Still looks very cheap though along with (especially) VOW and PAH. But cars are a no no area right now. 😅

[KJ.RSA @kRSA91]

@mihaljevic ~Eur 36Bn MV.

[KJ.RSA @kRSA91]

@matumba_anthony You and Miss Repo rates @DZumaSambudla must join hands - cut from the same cloth.

[KJ.RSA @kRSA91]

@MzwaneleManyi Ramaphosa announced his cabinet on 30 June and they were sworn in, in July. Second quarter ended 30 June. You know this, yet you insult the intelligence of those you wish to hear and believe your crap - the poorest of the poor and those you pretend to champion.

[KJ.RSA @kRSA91]

@Chapter11Wealth @MarcHasenfuss I haven’t really looked at the business as I said… just looked at the recent financials and got the just of what they doing. Any new fin. operation growing quickly through lending prob. warrants caution though. haven’t looked who’s running the operation, experience, customers..

[KJ.RSA @kRSA91]

@Chapter11Wealth @MarcHasenfuss If that's the case then they should theoretically trade at +/- book.. or a premium/(discount) if they earn > or (<) than cost of capital over time. Currently trading at ~70% book. If they earn > cost of capital + the strong growth of the book, could be worth > of book.

[KJ.RSA @kRSA91]

@Chapter11Wealth @MarcHasenfuss The fast growth of the lending book makes this mismatch in timing even more drastic.... over time (if they've provided for bad debt sufficiently and priced the lending correctly - then they should earn a fair return on the book).