Companies

We ignore market sentiment and look for businesses we believe are undervalued. We sell them when they reach our estimate of fair value. Here we provide our views on a selection of companies and sectors. 

Articles in "Companies"

Prosus marches forward: What should investors be looking out for?

By Nshalati Hlungwane on 10 Sep 2019

reading time: 5 mins

Naspers, the world’s sixth largest internet company by market capitalisation, will list its foreign internet assets separately via Prosus NV, a newly created...

An opportunity in television?

By Jacques Plaut on 29 Apr 2019

reading time: 8 mins

The Top 40 got a new member this quarter when MultiChoice was unbundled from Naspers. MultiChoice owns the dominant pay-TV business in South Africa, DStv, wi...

Our Tencent(s) on VIE structures

By Radhesen Naidoo on 11 Mar 2019

reading time: 3 mins

As at 28 February 2019, Naspers made up just over 18% of the FTSE/JSE All Share Index. Because of its dominance, including or excluding the share will have a...

An investment case for Naspers

By Ruan Stander on 17 Oct 2018

reading time: 9 mins

As at 30 September 2018, Naspers made up 18.2% of the JSE. Whether you are for or against the stock, adequate time needs to be devoted to considering the...

Steinhoff class action

By Rob Formby on 28 Sep 2018

reading time: 1 min

Allan Gray, along with other South African institutions, is participating in a class action case being run in the Netherlands by Dutch law firm BarentsKrans ...

Corporate democracy: Moving beyond box-like thinking

By Ricardo Semler on 18 Jul 2018

reading time: 4 mins

At the 2018 Allan Gray Investment Summit, keynote speaker Ricardo Semler challenged delegates to find new solutions to problems: “We have become box people w...

How Allan Gray values a stock

By Andrew Lapping on 18 Jul 2018

reading time: 6 mins

Allan Gray is a strong proponent of value investing, the mantra famously championed by Warren Buffet. Put simply, value investing is the concept of buying...

The benefits of being counter-cyclical in a cyclical world

By Rory Kutisker-Jacobson on 24 Oct 2017

reading time: 13 mins

“Prediction is very difficult, especially about the future.” – Niels Bohr. In cyclical industries, understanding where we  are in the cycle and acting...

Africa ex-SA Equity Fund: Finding value in Nigeria

By Andrew Lapping on 01 Apr 2016

reading time: 4 mins

The first quarter of the year was particularly volatile. The Africa ex-SA Equity Fund closed unchanged for the quarter, masking substantial intra-quarter mov...

The sentiment pendulum

By Andrew Lapping on 01 Apr 2015

reading time: 4 mins

Investor sentiment is a delicate thing, which changes with surprising rapidity. Kenyan banks… Three years ago Kenya and the Kenyan banks were very out of...

An alternative view of commodity demand and supply

By Mark Dunley-Owen on 30 Jun 2011

reading time: 5 mins

In Quarterly Commentary 1, 2011 Sandy McGregor discussed how high commodity prices are being supported by the mining sector's inability to keep pace with...

You win some...

By Delphine Govender on 30 Sep 2010

reading time: 11 mins

Building and managing a portfolio of investments inevitably includes shares that will prove to be winners but also those that will fail to deliver on their...

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