Magic Markets #230: Insights From Five Global Companies

In this episode of Magic Markets, Mohammed Nalla and The Finance Ghost decided to each choose three companies from the recent research in Magic Market Premium, with the goal being to discuss some of the most interesting insights that came out of each one.

Both chose Berkshire Hathaway (predictably), so there were actually only five companies to discuss. Luckily, this left more than enough meat on the table. This podcast highlights some of the best insights from research into Berkshire Hathaway, BAE Systems, 3M, Waste Management and Alibaba.

This podcast is for informational purposes only and is not financial or investment advice. Please speak to your personal financial advisor.

 

The Finance Ghost: Welcome to episode 230 of Magic Markets. We certainly come to you in a week where there’s a lot of geopolitical noise and there’s so much that we could talk about on oil and Iran and all of the rest. But actually, we’re giving you a bit of a break from the macro this week and from the noise of the headlines and we’re doing a bit of bottoms-up analysis here. Specifically, what we’re actually doing is we each went and dug into a few of our recent Magic Markets Premium reports to bring some of the things that we each found quite interesting from those reports. Now, just to make it fun, neither Moe nor I actually chatted beforehand about which companies we were going to choose, so hopefully there isn’t a ton of overlap, but I guess we’re going to find out. I’d be surprised if there isn’t at least one company that we’ve picked – I kind of assumed that Moe would go for the dividend stocks because he’s such a dividend magpie, but maybe time will tell.

Anyway, Moe, welcome to the show and I look forward to seeing what you chose.

 

Mohammed Nalla: Indeed, Ghost, I love these shows because it’s always fun. You know, we haven’t compared notes. I’m keen to see what you’ve actually got on the menu from your side. I can tell you what I’ve got. I don’t know if you want to do a grand reveal of the three? I’ve covered three, you’ve covered three. Should we do a grand reveal?

 

The Finance Ghost: Yeah, do it, do it. Tell us what you’ve brought.

 

Mohammed Nalla: Given everything that’s happening in the world, I felt that it was relevant to go and have a look at a company or a stock that we covered in the defence sector now. No, it’s not Lockheed Martin. That’s not the one we’re covering, we actually covered BAE Systems and this is a London listed stock. Again, showcasing the fact that we don’t just cover US stocks, we’re very much a global-focused show on Magic Markets Premium. So I looked at BAE Systems, that’s a stock we covered back in, I think it was around March of this year. And that’s certainly quite interesting. My second one is Berkshire Hathaway, because we had…

 

The Finance Ghost: …so I didn’t match you on BAE, but I did match you on Berkshire Hathaway. So we’ve both looked at Berkshire, but that’s fine. We can – I mean, it warrants both of us talking about it, but BAE we’re safe. There’s no overlap there. Berkshire, we can both tick that box.

 

Mohammed Nalla: I hope I don’t get the terminology wrong here, but is it like swipe right? I think we both swiped right on Berkshire. Is that the right terminology?

 

The Finance Ghost: Sho, I’ve luckily not had to do Tinder mode, so I don’t know, but that sounds like the correct pop culture reference. Well done.

 

Mohammed Nalla: Okay, so I’ve got Berkshire and then my third one, Ghost, is hopefully one that you haven’t looked at either. And that is 3M, the company famous for Post-it notes. 3M, that’s a stock we covered also earlier this year, I would say around Feb. So, yeah, those are my three. What are your three?

 

The Finance Ghost: Yeah. So, Berkshire, as I mentioned. And then luckily I haven’t done 3M, so I did Waste Management, which I was very worried you were going to pick and I’m quite excited that you didn’t.

 

Mohammed Nalla: Oooh. I’m unhappy I didn’t pick that one because that one stands out. Yeah, I like, I like Waste management.

 

The Finance Ghost: It’s right up your alley. And then I did Alibaba, which I wondered if you would take since China is always a focus for you, but luckily you didn’t.

 

Mohammed Nalla: I’m going to say oooh again…

 

The Finance Ghost: No, it was close!

 

Mohammed Nalla: Alibaba was literally the next one on my list. It wasn’t Waste Management. That’s a nice one. I’m grumpy I didn’t think of that one. But Alibaba was very close. So I’m keen to see what you’ve actually unpicked in your three.

How do you want to do this? You know, do you want to jump in?

 

The Finance Ghost: I think we should do Berkshire. I think we should just get Berkshire done. That’s our overlapping one. I’m very curious to see what you’ve got versus what I’ve got. There might be a lot of overlap. And then we can jump into some of the others. So how about we start on Berkshire?

 

Mohammed Nalla: Let’s do that. I’m gonna let you go first…

 

The Finance Ghost: …I’ll let you go first.

 

Mohammed Nalla: …No you go, you go first.

 

The Finance Ghost: OK, fine.

 

Mohammed Nalla: Swipe right.

 

The Finance Ghost: Alright, Berkshire Hathaway. A few learnings and things that I enjoyed from when we did the research. So, almost 190 operating companies in the group – I thought that was pretty interesting. People talk a lot about how Warren Buffett and historically Charlie Munger, the late, great Charlie Munger, how they had this very concentrated portfolio. And in reality, there are almost 190 operating companies in that group. It is really big. And this gives them a lot of visibility into the economy.

So this then feeds into their thinking around where they allocate capital in listed equity markets. And of course, this is one of the many reasons why they are so widely followed, is because people are looking at this and saying, nobody has a better front row seat into what’s really going on, specifically in the US economy, but also elsewhere in the world. So, what are these people then doing with that information in terms of allocating capital? That was a nice learning, I think.

On the topic of capital allocation, which is obviously why Berkshire is so famous, I quite enjoyed the fact that they don’t really have a preference for listed versus unlisted assets. They do try to control their unlisted assets, which my time in corporate finance certainly taught me is a good idea. So that means that they do provide exit capital for entrepreneurs. And I think that’s really helpful because listings/IPOs not such a popular way to exit these days. Selling to private equity effectively is more popular. And Berkshire Hathaway is not private equity in the traditional sense, but there’s a bit of a hybrid model there. In some respects, they are a bit like private equity. They can buy out an entrepreneur. You don’t have to list that entrepreneur’s business separately.

And then finally, the third point I wanted to raise around Berkshire Hathaway is part of their bear case, which is just to say that it is very tough for them to find genuinely wide moat assets at the scale that they’ve now reached. And this is why they tend to revert to T-bills when they aren’t sure about where to actually allocate into equities.

So when you are looking at the market, as so many people do, they go and look at Berkshire and say, well, what has the recent trend been in terms of allocating to equities versus buying up T-bills, which is just short-dated US government paper? Berkshire is essentially a balanced fund and it’s good to see it in that light. So those were my learnings from when we did Berkshire. Moe, anything you want to add there?

 

Mohammed Nalla: Yeah, a bit of an overlap. I find it so interesting because, yes, there are some commonalities, but they’re also different, the way you look at companies, the way I look at companies, certainly different.

What stood out for me, first of all – I like your balanced fund point and in fact it was probably one of my second or third points on Berkshire – is that Berkshire is actually probably one of the only Fortune 500 companies that would benefit if the market actually corrected sharply to the downside. And the reason for this is specifically the fact that they’re sitting on around $280 billion worth of dry powder. We’ve mentioned how they allocate to T-bills. They don’t have to actually go and invest in equities, but, that allocation – you know, they’ve certainly sold out a portion of the Apple stake quite recently, that was interesting – and that money was then repurposed into effectively sitting in dry powder.

Now, whilst the market crash isn’t necessarily a threat, I mean, we literally have the world at war and the market continues to go up, it does give Berkshire a lot of flexibility. And this ties into your capital allocation point because remember, the interesting thing here is Berkshire doesn’t pay a dividend. So that dry powder is literally saying, how can we deploy this capital into active opportunities? It gives them effectively that money that they can sit on and then they go on a shopping spree if they can actually find the opportunities.

Now that ties into your other point, which is to say if they can find those opportunities. That being said, there’s certainly no pressure from short-term or longer-term shareholders in terms of them deploying that capital. I think the market’s quite comfortable with Berkshire’s capital allocation decisions over the longer term. And again, that contributes to not just the strength of the company’s balance sheet but the fact that if you are actually investing in Berkshire, you have almost a dynamic asset allocation fund in your portfolio. Because if they are seeing the opportunities to deploy that capital and generate the returns on equity that they would require, they’re going to do that. And that’s without you needing to go and buy and sell stocks in your portfolio. So that was interesting for me.

The other point that came through, again, this one’s slightly more tangential. I’ll just mention it, because I was going to feed in from a defence company into Berkshire Hathaway is the fact that Berkshire actually pays 5%, roughly 5% of all corporate taxes collected by the US government. That is absolutely immense. And that just shows you – I wouldn’t say it’s systemically important, but it shows you this scale. I think it ties nicely into your point to say there are a lot of underlying companies, they’re invested in the real economy. They have data that you and I don’t have because of all of those unlisted businesses. And again, that just testament to the fact that if you’re seeing Berkshire do something on its capital allocation decisions, that is actually a very nice playthrough into other sectors of the economy and even as a macro data point. So that was certainly interesting for me, just given the way I look at the world.

And then lastly Ghost, the one that was very interesting for me is that Berkshire’s actually made one of its boldest bets in Japan. What is interesting is that Warren Buffett actually go ahead if he’s seeing the deals, he can actually go and execute on that without seeking board approval and then notifying the board that he’s done that. I don’t think you’re gonna find many CEOs that have that kind of leeway with regards to allocating the company’s capital. So that was interesting for me because it tells me a couple of things, right? First and foremost, it tells me that they’re looking ex-US for some of the better risk-adjusted, risk/reward-adjusted returns. They also have these big bets on Japanese trading houses. So for example, investments in Mitsubishi, Sumitomo. And these are conglomerates in their own right. So it’s like Berkshire buying other mini-Berkshires in Japan. And what’s interesting here, one last point on the specific macro, is that I think Berkshire is actually trying to take advantage of not just the underlying investment, but also the fact that if Japan needs to pivot a little bit harder on its monetary policy, you could actually see some currency strength start to come through as well.

Those are all very interesting insights that we gleaned from Berkshire. I’m going to wrap up because I always like looking at the charts. With Berkshire, it was looking extended when we covered it back in March. It actually got to our R2 or our Resistance 2 level and now it’s correcting. So again, if you’re someone who’s looking for an opportunistic position in the space, watch the share price closely. It does present some opportunities. I’m not going to give away what we’ve put in the full report, but that was an interesting one for me. Ghost, what’s your second stock that you’re going to cover right now?

 

The Finance Ghost: Yeah. So let’s go into Waste Management, which is one that I must say I really enjoyed us doing. Waste Management is very much a utility-style business. Not specifically because that’s their business model, but it’s these contracts that are very ingrained in the way the country just works at the end of the day. It’s one of those typical – nobody says that when I grow up I want to work in waste management, or hardly anyone says that – I’m sure some people do. It’s not exactly a glamour area, but these are the types of businesses that actually make a lot of money. And when you are looking to add dependable dividend payers to your portfolio, and this is why I was convinced that you were going to look at this Moe, where what you’re really looking for is cash flows that are underpinned by contracts like these, where the service being provided is just so core to how things work that it really can’t easily be cancelled.

And another thing that works well when you’re looking for more defensive stocks is to look for secular versus cyclical trends. So when you are screening specifically on dividend yield, just be extra careful when you see cyclical businesses coming up hot. Often you are screening on a trailing dividend which means last year’s dividend versus the current share price. And when that’s very high because last year’s dividend was good and the share price has subsequently come off, it’s because the cycle has turned and that cyclical business has therefore gone down significantly. A secular business like Waste Management, on the other hand, enjoys this ongoing uptick in growth. They are investing based on super long-term trends like aging populations and healthcare and what it means for medical waste, which is all very good.

Something else I really liked about them was just the bolt-on deals and what a big part of the expansion story that is. In many ways it reminds me of Bidcorp on the JSE and how they’ve grown globally. It’s a really good risk mitigated way to supplement organic growth opportunities. And really all that a bolt on deal means is – I always use the analogy. It’s like building a big Lego house and you’re just adding one more brick or one more little window or one more little tree. You’re not going and saying, oh, let me build a completely new house from scratch. I’m just adding to what I already have. That is a nice low-risk way to actually build a group over time. And what I also enjoy is when management teams have this in their toolbox, they can see it as a capital allocation decision alongside the usual suspects like buybacks.

Now, unfortunately, a business like Waste Management is expensive to buy because people know all of this in the valuation. So it’s one of those companies where the big pullback may never come. I’ve kind of hoped to see if there will be one, but with all of the recent market chaos, that share price has actually been remarkably resilient, so I’m not sure that pullback will come. I think if I want to get a piece of the action at Waste Management, I’m going to have to just pay up a pretty substantial multiple because I just don’t think it’s going to get better, that entry point.

 

Mohammed Nalla: Ghost, I love that you’ve covered Waste Management because something I’ve actually just – I was looking at the stocks you’re covering, some of the stocks I’m covering and for me the defensiveness of the theme that comes through there is prevalent. If you’re looking at Waste Management, that’s a utility. I’ve been skewing my portfolio towards defensives, towards utilities for some time now, several quarters. And so Waste Management’s actually done very well. It’s actually up from when we covered it on Magic Markets Premium. Again, those insights definitely quite valuable.

I’m going to pivot from basically defensive stocks like Waste Management into defence. This is going to be a bit of a touchy subject because of the backdrop we find ourselves in – war. Let me start out by saying war is terrible. There are no winners in war. But that’s actually technically incorrect because stocks like this do well in the kind of fractured global geopolitical construct we find ourselves in. And again, as investors, we would be remiss to not cover some of this.

So when we look at BAE, a couple of things tick the box here, right? One is that it’s not a US-based company. Yes, there is some US exposure, I’m going to get into that point shortly. But it’s actually a UK-based company and this stands to benefit off the fracturing in global geopolitics, but also the fact that the US has seemingly alienated its allies in Europe and there’s this big push in Europe to now start rebuilding their own defensive capabilities. We would argue that a European or at least a UK-based company like BAE might actually do well on that as a second tailwind rather than looking at a US-based company. So that was interesting.

And when we looked at the stock, the thing that actually stuck out for us is that you think of BAE Systems, you think, okay, it’s the UK, but one of the most critical components of every F35 fighter jet – remember that is Lockheed Martin’s jet in the US – a critical component of that, which is their very stealthy rear fuselage, you know, the one that allows it a very small radar footprint, that’s not made in the US. It’s not made by Lockheed Martin. It’s actually made in the north of England by BAE Systems. So this just shows you how you’ve got to understand the interconnectedness of global supply chains. You’ve got to understand that when you’re seeing all of the, you know, rah, rah, go America, here’s F35, we dominate the air. Who’s actually playing in that value chain? And one of the key components sits in BAE Systems and they do that really, really well.

So that was a point that stuck out for me when we covered that company. It’s just understanding where it plays in that global supply chain. The second point that kind of stuck out for me is the fact that when you think of defence companies, you think of ships, you think of planes, you think of missiles. But BAE Systems actually operate across ships, they’ve got unmanned aerial vehicles, but they also have space surveillance systems. And as the world pivots, I mean in this recent conflict, we actually saw Iran firing missiles up effectively out of the atmosphere and then coming back down to hit their targets. This will just highlight the importance of those space surveillance and space-based weapons systems and BAE is actually operating in that space. This makes them as much a data company as a weapons manufacturer at the end of the day, because they’re doing a lot of this research with space surveillance, they’re getting a lot of data. This creates pockets of value that other competitors might not have.

And then Ghost, my last point, this was very interesting. When we covered BAE Systems, you’ve got to look at what they’re spending on R&D. And I then looked at this and I compared it to what you’re seeing other tech companies doing because we read a lot about AI and we read a lot about all of these new themes. I mean, quantum computing coming through. BAE actually spends a lot more on its own self-funded R&D than many pure-play tech firms. This is showing you that you’ve got to take AI and say, what is AI doing in a practical sense for what we do as a business? And that kind of stuck out for me in terms of just a longer-term lens on BAE Systems. Now, wrapping this up – my key learning is sometimes you just have to ride the momentum. When we covered the stock, it was trading around £16 a share and it had already ratcheted up and we were quite cautious on the valuation side of things, but the technicals were telling us this is a momentum trade, you’ve got to actually trade it. The stock currently trading, it went through our Resistance 3 level. So actually through the third highest level we had on the chart, it’s now subsequently correcting back to around that level. But the learning for me here is that if there’s a mega theme going on – yes, do your research, it’s a good company, they’re doing a lot of good work under the hood – sometimes ride that momentum Ghost.

 

The Finance Ghost: Yeah. I literally had a conversation with someone today where we talked about how you can do all of the underlying work on the business and all those things, but don’t ignore what the market is telling you. At the end of the day, that’s what the market is. It’s a whole bunch of people who have a view. And if enough people have a view in a particular direction, then it doesn’t matter what the numbers say, that’s what the share price will do. So always something good to keep in mind.

It’s actually quite fun – I just charted BAE versus Lockheed Martin over five years. This is a very quick and dirty that doesn’t adjust for the fact that one’s in pounds and ones in dollars. But the gap is not going to be explained by currency. Lockheed Martin is up 29% over five years. BAE Systems up 272%, so European defence through the roof. It really is quite something.

Third company that I want to touch on is also outside of the US and another big thematic one, and that is Alibaba. I really enjoyed covering the stock when we did it in Premium and I’m really glad we did it given there’s so much discussion out there right now about this whole US-China relationship and what’s going to happen.

I think the jury is still very much out on what could actually happen in terms of goods flowing between China and the US, because my worry remains that if there is some kind of structural drop in trade between the US and China because of tariffs, then what will that mean for Chinese platforms like Alibaba? Mainly because I’m worried about what it might mean for the buying power of Chinese consumers.

So just to explain that properly, the learning from when we covered Alibaba is that the international business, and this is obviously when we look through a Western lens at Alibaba – we think, oh, this is something I can order, stuff will arrive here from China, it’s going to be cheap and different and maybe slightly weird, depending which platform you use, and that’s kind of what this thing is. That is not what Alibaba is. That is one part of their business. Their international business is not even profitable! It’s actually reminiscent of Amazon and how long it takes for them to actually become profitable when they expand globally.

When it comes to Alibaba, what you actually need to do is to see it as an Asian consumer play, specifically in China, with a lot of strength in cloud and AI as well. This means their success will be based on growth, primarily in China. So the big issue here is not just, oh, what will happen in terms of the number of parcels flowing from Alibaba’s sellers through to the US. The impact is actually to say, what will this mean for the sellers in China? Will they have other markets that they can reach? Because if they do, then Alibaba is fine. If they don’t and this US-China issue really hurts Chinese growth, then you have a problem in Alibaba, not specifically because they can’t trade as much with the US, but because of the impact it would have on affordability among Chinese consumers.

So this is the challenge and the market seems to share this concern. When we covered Alibaba in Magic Markets Premium, it was I think in April, the share price – I went back and looked at the report, it was $131, was spot. And the support level that you had indicated Moe was $114 – that is where it’s trading right now! So it’s come down to that level, but actually it went down a lot further. It’s come back up to that support level. It got all the way down to $100 shortly after we actually covered the stock. That’s just the market obviously getting very concerned about this whole US-China situation and rightly so.

For me, Alibaba is still just a little bit too messy to try and guess where things might land up between China and the US and as I say, not just the tariff percentage, but what this means for Chinese consumers. So I think that was my key learning from looking at Alibaba was that you need a view on Chinese consumption, not whether or not they can sell to the West.

 

Mohammed Nalla: I love that. I have to chirp in on Alibaba, right? Because I think when we covered it I’d said I was bullish on the stock. Yes, it actually got a lot lower. Go and pay attention to that chart. And again, if you’re a subscriber to Magic Markets Premium, go and have a look. If not, it’s only R99 rand a month. Go and check it out, it’s great value. We certainly think so. I’m going to – that’s my shameless plug. I’m going to stop there.

The stock actually got to that 200-week moving average. That’s where it got. And it bounced up off that level. So that actually confirms my, certainly my bullish thesis on this. I have bought Alibaba slightly lower than where we are at the moment. Would I add to the position? I’m going to watch that closely. I’ve kind of sized it appropriately.

Like you, there’s a lot of uncertainty – I think for me the key learnings in Alibaba was just its investment in its web services, effectively the Amazon-esque pivot in Alibaba.

The point that I’m actually quite bullish about in Alibaba is its exposure to financial services in China. Remember you’ve got Alipay that comes through as well. Remember we saw the payments segment of the business in MercadoLibre, that was very important. So it’s the overall ecosystem, the exposure to the Chinese consumer that contributes. Again, you’re going to either be bullish or bearish. But I like Alibaba.

I’m glad you covered it because I’m going to pivot from that. It’s my third company I’m covering here so it’s appropriate that it’s 3M. Now this is a company that doesn’t pop up on a lot of people’s radars because you know, what does 3M actually do? They do a whole bunch of stuff and it’s the smaller incremental gains that 3M makes. It’s more than just Post-it notes.

If you look at 3M, the thing that stuck out for me is that first and foremost there wasn’t a lot of media hype around this, but it was actually once hailed as a dividend aristocrat. And I know you always say, those dividend aristocrats be very cautious around that. They actually interrupted six decades of hiking their dividend and actually slashed their dividend by 50% in 2024. And there wasn’t a lot of news around that, but again, it tied into what we covered in the report. Because in the report, there was a lot of focus on what is the company doing around its asset allocation decisions. And so that decision to slash the dividend was that they would reinvest a lot of that money back into the business to actually then start spurring the initiatives that made 3M a great business in the first place. And remember, this is a company that was founded on innovation. This was a company that literally told its workers that they needed to carve out a certain percentage of their time every single week in order to think of new ideas, new innovation.

So this for me was actually not necessarily a bear point because it was saying, the company was saying, we’ll sacrifice the dividend because we’ve got other avenues, we can invest that capital into the business. And this will allow us to first of all repair balance sheet, fix any liabilities, there’s some litigation liabilities in the background, they address those and then start investing in what made the company great in the first place. That was an interesting one for me.

The second point that was very interesting is that 3M is actually a cash generating business. It’s not a growth business. It’s a business that incrementally – you get the growth that comes through, low-single digit that comes through over there – but it generates very high free cash flow. And that was very interesting for me.

When we looked at the financials, we did the deep dive on the stock and this is some of the attraction because at the end of the day, I like dividends, I like cash flow. A business like 3M is a business that I certainly like as a more risk-averse investor. Again, some correlation to what we had discussed when we were covering Berkshire Hathaway. And then, last point, I have touched on it – it’s just this refocus on innovation because in 2024, they actually launched 169 new products. And this is – again, it’s part and parcel of 3M’s DNA. But the reason why I like this point, and again I’m seeing this in a bullish light, is that when we look at companies, a lot of people say if you’re investing for growth, you go for the growth startups, those are quite risky. Whereas with 3M, it’s incubating a lot of that innovation within an overarching business that generates a lot of capital.

It’s very similar to what you’re seeing in Berkshire where you’ve got a strong balance sheet that allows you to incubate smaller businesses, to hold businesses that are unlisted, and that helps you mitigate the risk on the understanding that management does its job properly. And so those were some of the key standout points for me on 3M. Now an important point to note here is that when we covered the stock, it was back in, I’ve just checked, it was back in February of this year, just trading around $150 a share.

Now if you go and have a look at the share price performance, it hasn’t shot the lights out. We’re actually trading close to around those levels. We’re around $148 at the moment. But it did actually rally. It rallied briefly. It got to around $157, not quite the levels we had highlighted on our chart. I think our first resistance level was around $170. But what’s important for me, is that the stock has broken above a bear trend that was in place. Again, we covered this in the report.

And so, similar to the Alibaba – where we actually saw the sell-off come through around the time of the tariff tantrum in April this year, that stock not quite testing its 200-week moving average, it’s above that at the moment, but it tested that bear trend from above and it’s bounced off that. So again, contributing towards the overall thesis that I certainly have on 3M, that’s where I’m going to leave it. I’m not going to give away some of the more juicy information that we have in the full report. Again, that’s for our Premium subscribers where we do a detailed deep dive from the bottom up. We incorporate some of the top-down stuff and that really yields some of these very useful insights. Ghost?

 

The Finance Ghost: Moe, I think just to finish off with that point around dividend aristocrats, the issue there is that they often have an artificially low payout ratio. And then what they do is, if you’re only paying out 10% of your earnings as a dividend, it’s not difficult to say, okay, next year’s dividend will be a bit higher than this year because you’ve got so much space in that payout ratio to increase your dividend, even if your earnings have gone the wrong way. So that’s actually been a wonderful overarching learning from doing Magic Markets Premium with you. We’ve looked at so many of these dividend aristocrats and once you actually dig into their capital allocation approach, you can see why they have that status.

But yeah, I’ve really enjoyed the show. It’s been good to go and just have a look at a couple of those recent shows. To our subscribers – you know what we’re gonna say next. Go and check out Premium if you haven’t done so already. It is wonderful value at R99 a month. It does give you just a fantastic library of research and also a brand-new show every week in a very different format to the free show that you are used to.

There’s no minimum commitment. You can just go and try it out. If for any reason you don’t like it or it’s not what you want, it’s easy enough to cancel and we would certainly encourage you to go and give it a bash and really upgrade your research and what you’re doing in the market. I think that’s what Magic Markets Premium really does.

 

Mohammed Nalla: Indeed, Ghost. And I’m going to make one more point on that shameless plug. The library is there, all of the historic reports are there. So if you subscribe, you have full access to that. And we’ve covered over 200 – I was going to say 250, it might actually be up there, I’m not sure, I’ve lost count – but we’ve covered over 200, maybe 250 stocks globally, not just in the US. We’ve covered some European stocks, we’ve covered some UK-based stocks as well. Go and have a look at Magic Markets Premium and then let us know. Give us your feedback. We always welcome the feedback.

Hit us up on social media. It’s @MagicMarketsPod, @FinanceGhost and @MohammedNalla, all on X or go and find us on LinkedIn.. Pop us a note on there. We hope you’ve enjoyed this show that gives you an overarching view of some of the work that we’re doing in Magic Markets Premium. Until next week, same time, same place. Thanks and cheers.

 

The Finance Ghost: Ciao.

 

This podcast is for informational purposes only and is not financial or investment advice. Please speak to your personal financial advisor.