Episode Transcript
The Finance Ghost: Welcome to episode 270 of Magic Markets. Such is our devotion to the show that I'm doing this just two days after a very exciting and wonderful wedding. I’m a very, very lucky guy. Not just lucky because I get to do this with you, Moe, but lucky for other reasons now as well.
A wonderful weekend that I will never forget, that's for sure. And I’m very happy to… honestly, to wake up this morning with a nice clear headspace, and not have to think about wedding planning anymore. I've got to say that that was quite nice, Moe.
Now we can just think about markets and a few other things, as opposed to me having to wonder about all of the joys of the logistics of a wedding [laughs].
Mohammed Nalla: Indeed. Ghost, a very hearty congratulations to you and Mrs. Ghost. It's just amazing. I can see you. Visually, you look all recharged; refreshed. Your voice has that spring in it. So, congratulations to you. I'm sure all of our listeners will echo that sentiment.
The Finance Ghost: Someone called her “The Ghostette” on X. I'm going to lean into that. She liked that too.
Mohammed Nalla: I like that.
The Finance Ghost: Quite a cool little pseudonym. So, we'll go with it. We'll go with it.
Mohammed Nalla: I've got to have a chat to “Ghostette” and just make sure that she's buying low, don't sell high, that kind of thing.
The Finance Ghost: She definitely bought me low. That's for sure [laughs]. I can tell you for free, she bought me low. Hopefully she never sells high. I need to be a long-term hold. She definitely bought low; definitely [laughs].
Mohammed Nalla: [Laughs] And that's why I love what we're going to talk about today. Because yes, it's not going to be about your wedding. We're going to talk about markets as well. I think long-term hold. I mean that's really the essence of your weekend.
And this week we're going to be discussing our long-term portfolios.
We often discuss what we're doing in our trading portfolios. We cover a lot of stuff in Magic Markets Premium with the deep dives, and our listeners are going to see some of that come through, in terms of what we discuss here.
Because I know you've got a list of stocks; I've got a long list of stocks, both winners and losers over the course of the last year. Some of those will be names that we have covered in Magic Markets Premium.
The fact that I've added them into the portfolio is directly related to the fact that we've covered it. We've got a deep dive into the company and we understand it really well.
Some of the others are stocks that I've done the research on just for myself. Maybe they're slightly more tangential, so we haven't included them because they might not be as relevant. But in fact, some of them, I think, would be really strong contenders for us to include in Magic Markets Premium going forward.
Ghost, I don't know how you want to run this. Do you want me to jump into some of those, or do you want to just get started? Like I said, I've got a very long list. It's an assortment of stocks across various geographies, various sectors.
How do you want to play this?
The Finance Ghost: I don't have a super long list. I've grouped three winners. These are local stocks now, so maybe let's do those; then we'll talk about some of your cool international stuff.
And obviously I own a whole bunch of stocks, so this is by no means a run through an entire portfolio. These are just names that are interesting.
Three platform businesses, all growing quite quickly, listed on the JSE. I own all of them.
All of them are pretty far off their 52-week high right now, because obviously we've seen quite a sell off across tech platforms in general. And then you've obviously had everything that's going on in Iran, and risk-off, and outside of energy, what that means, et cetera, et cetera.
So, one of them is Prosus. My entry points were at different times on these, and I'm not going to get as technical as “Oh, I made this much in this much time”, because all of these are long-term holds for me. So that's not really how I think about them.
But Prosus is up 24% for me from when I got in, but only 4% in the past 12 months. It's down 33% from the 52-week high. So, it was a much more exciting position than it is now.
The AI narrative has somewhat lost favour in the market. But whenever you look at a Prosus or Naspers share price, what you need to go and do is also just look at Tencent, because that's really still the main driver of what's going on there.
And Tencent is about 24% off the 52-week high. So, there’s a little bit more pressure in Prosus. There's some currency distortion, blah, blah, blah. But generally speaking, I think there's a bit of risk-off in tech.
I am very much a long-term holder here for the simple reason that thematically, Prosus is a really cool ex-US growth play. It's a really nice way to just get exposure to tech platforms outside of the US. And because I own a lot of US tech platforms, Prosus makes a lot of sense to own in the portfolio alongside these things. And it's JSE listed.
So, I think there's always that important point of: a stock might be interested in isolation, but it can make even more sense, or less sense, in a portfolio, depending on what else you own.
So, what do they need to do there? Their management needs to show some good progress in their recent acquisitions, and generate value from them, and hopefully that'll do some good things for that share price.
Mohammed Nalla: I'm glad you started with Prosus, Naspers, the Tencent tie-up in there as well.
I'll group three of the stocks in my portfolio. It's an assortment of winners and losers, but it's actually been the underperforming segment of my portfolio and it's specifically because it's the China-exposed stock.
So, at the top of that list is Alibaba. Not a direct playthrough in terms of Tencent and so forth, but Alibaba is a big name. Our listeners are familiar with that. We have covered it in Magic Markets Premium.
I got into the stock around February of last year, and the narrative was really around this massive disjuncture in terms of valuations in China, versus US stocks. I was getting increasingly concerned around the US story, and some of the valuations in the tech space there.
And so, I started rotating some of that capital into Chinese stocks; into Chinese names. Alibaba was really at the top of that list. I did have Tencent in there as well. I have recycled some of that capital, so I don't have the Tencent position. In fact, I'm probably relooking at that again right now.
But on Alibaba, it’s up around 14% from when I got into it, and it was this very mixed performance, because initially it did really quite well through 2025. It pushed onto a high of around $195 a share, and then it actually lost a lot of steam in the latter part of last year. Let's say start of Q4 last year, we really saw some of that steam come out.
It traded down to around 30% off its 52-week highs, since you're using that number, there and thereabouts.
Am I actually panicking? No, because again these are long-term holds. I believe in the company. I believe in the fundamentals underlying that.
And when I look at the technicals as well, that stock, part of my narrative (it wasn't just valuations based) is that it had actually broken above the 200-week moving average. It looked to be sustaining that break, and it still has sustained that break. On the current pullback, it's headed back towards that level for a test - but I'm not concerned. So that's the one in that kind of bucket.
The other two are losers. A name there that people might be familiar with would be JD Group. I’m down around 9%. I got in a lot later than Alibaba, so probably around September, on the basis of valuations. Not too concerned around that.
The one I want to highlight, which has been a massive disappointment (but it was a speculative kind of play there, even though it is in my long-term portfolio) is a company called First Truck Alliance. It's a Chinese stock I mentioned in the latter part of last year. I got in around September last year.
That's down a whopping 35%. Now what is the business of First Truck Alliance? It's logistics in China. The fundamental narrative was quite strong for me, but I didn't know a heck of a lot of the company, and I kind of looked at it at a headline level. Didn't do a proper deep dive on that. And so that's been one of the pain trades. It's probably my worst performing position in the portfolio right now. There's that.
There's another Chinese stock; very small. They're in the tea business. I think it's Chagee. That's down, also in solid double digits. So, it hasn't been smooth sailing in that part of the portfolio.
But again, overall, as long as your winners outweigh your losers in an overall portfolio, you can't just pick winners.
I'm going to pause there, because I think that rounds out my Chinese experience. The last year hasn't been fantastic, but there are still a couple of strong names that I'm willing to hold onto and I’ll potentially leg into some additional names in that space.
The Finance Ghost: It's interesting. We've all had one or two of those where we know in our heart of hearts we didn't do quite enough research. Then it goes the wrong way and then it gets frustrating, right? It's like, “Well now what?”.
Because now it's not like you had the conviction initially to actually want to hold this thing forever, and now you have to make these hard decisions. So, it doesn't matter how good you are in the markets or who you are, sometimes the ill-discipline, if I can call it that, does creep in. We all do it.
The one that I'll mention next is one that I am happy to hold long-term, even though again, it's 30% off the 52-week high, but I'm up 81%. So yay, I bought it at the right time.
That's Purple Group, the South African business that is scaling what they call Easy Group, which is really EasyEquities. But obviously there's more to it than that - and they're trying quite hard to just let people know that it's a bit more than just equities now.
Underlying business is doing really well; recently HEPS was up about 21%. If you dig deeper, you'll find Easy Group revenue was up 18.5%. So, in South Africa, where GDP growth is pretty negligible, and our savings culture is poor, it's actually really decent. Some very good metrics coming through there.
So, you'll find this one interesting, Moe. They report on “non-activity-based revenue”, which basically means “not brokerage”. And given that Easy is historically a brokerage business, it's a big deal, because they've done a lot to annuitise their business.
And that source of revenue was up 14.4% in the latest period, and get this, contributed 52.6% of total Easy Group revenue. So, they're at the point now where their annuity book - if I can call it that, it's not quite an annuity book, but it's more annuitised than brokerage - is more than half of their revenue base.
So, they've done a really good job there. And that strategy was part of the catalyst for me to eventually go long on this story, because I wasn't a shareholder in Purple at any stage. During the height of the pandemic, there was that really big hype around the company and people were just buying it at any price, which is obviously a situation that I avoid.
And eventually that washes out of the market. They did a cap raise as it was from Sanlam, I think, at a point, and it was around that time that I got in. I just like what they're doing, it looks to me like they're building out a really solid financial services platform. Very long-term play.
So again, 30% off the 52-week high, very similar to Prosus, almost as bad. And again, it just shows you how widespread the selling can be. When the market moves in a particular direction, it takes a lot of similar stories with it. “You're a platform techy kind of thing. Okay, well come with us”. Down 30%. That's how this works.
Mohammed Nalla: That's just fascinating. There's so much happening in financial markets. Purple Group, I've been watching from afar with a lot of curiosity.
I own some wealth management businesses up here in Canada. I own some platform businesses as well (in the financial space) and they've done really well. Unfortunately, I haven't actually pulled that out in terms of one of them to show, but they've really done well as a sector up here.
What I am going to highlight, since we're talking financials and so forth, is Canadian banks. Canadian banks I like, because it's an oligopolistic industry, very similar to what you get down in South Africa.
The dividend yields are really healthy. And one that I've actually extracted is Nova Scotia. I own an assortment of these, but Bank of Nova Scotia, otherwise known as Scotiabank up here in Canada, is - I wouldn't say is the top tier player - but it's definitely in the top four.
So again, a highlight there is that you don't always have to buy the biggest, baddest bank in South Africa. I've seen some banking headlines about the biggest, baddest banks in South Africa and why they're bad, getting hacked and so forth. But let's not get sidetracked [laughs].
Bank of Nova Scotia (BNS), I got into in around October last year. Again, partial narrative of the fundamental story as I've outlined to you is just resilient earnings, a decent book. When you look at the fundamentals, what is interesting for me around BNS versus some of the competitors is their overall exposure to the mortgage markets.
I went in a little bit of detail there. I said, “What does the vintage look like? Have they been issuing these long amortised 30-year mortgages?”
Because when you have rates potentially bottoming out - in Canada, they kind of bottomed out and there's some upside there - real estate was a very large portion, and there were concerns around a correction in the real estate market. I wanted to try and control for some of those risks.
And so, when I looked at BNS, I effectively said, “Look, I'm happy with their exposure”. I don't even think they do the 30-year amortised mortgages - or not in the same kind of quantity or quantum as some of the other banks.
So that was the right call. The stock has had a phenomenal rally since the time I actually got into it. Up 66%. In fact I've looked at this and said, should I take some profit, take some money off the table? The fact of the matter is, my running yield on this is really generous enough, because with a 66% rally, different yields are a lot more compressed now. If I need to try and replace that with another name, I'm going to struggle to find that.
And so, I'm still in the stock and when we compare that to its 52-week highs, well, we're pretty much on those highs as we're speaking right now.
We're around $2 off the highs that were posted earlier this year in and around February. So, the stock has had a strong rally. It had a brief correction from February to now, then a bounce back again.
I'm keeping it in the portfolio. I like the Canadian banks in general. They're quite resilient; well managed.
I may look at recycling some of the capital there from a risk mitigation perspective. But financial services - we both come from that industry - it can be very lucrative if you just pick the right names.
And I'm just really glad that I picked Canadian banks over US banks, because when you do the comparative kind of view on those Canadian banks, they have actually been the right place to be.
The Finance Ghost: Interesting. It helps to be on the ground there, right? I think if you're not living in Canada, it's not necessarily something that would obviously be on your radar, certainly if you're not in North America. So again, it just shows we invest in the things that we feel like we understand and are close to.
That brings me to my next one which is another winner. Don't worry, I have a nice loser to talk about later. This is definitely not to say, “Oh, everything's worked”, of course it hasn't. But the winner that has been really nice has been Weaver Fintech. That's the third platform that I wanted to talk about.
So, they are leading in “buy-now, pay-later” in South Africa. They're doing really, really well. They're building out an ecosystem around it, and not just around the product, but actually around quite a deep understanding of their particular customer demographic.
They have a lot of intent around that. They understand who their customer is and they serve “her”, literally “her”. That's where their customer is. And they make that very clear, and kudos to them. I think when a business understands their customer, you're on the right track.
Recent results were great. Revenue up 23%, HEPS up 40%, full year dividend was up 42%, Moe. The cash quality of earnings was excellent. Dividend growth very similar to HEPS.
4.3 million customers versus 3.1 million a year ago. How's that for year-on-year growth?
So very, very cool story. Doing really well. And guess what? 20% off the 52-week high. So, when the selling comes through, it is indiscriminate. Just everything gets whacked.
That's the real opportunity in the markets: find the stuff that's been thrown out, that shouldn't have been thrown out. For Weaver Fintech to be growing at those sort of levels, is just fantastic. And there it is, 20% off the 52-week high.
One of the issues there is the liquidity in the stock. It's just not good enough, very tightly held. So, it makes it quite difficult for institutions to really get involved.
But that's one of my upside catalysts: in the years to come, I think that will change, and then hopefully that will do wonders for the valuation, when some of the bigger names can get involved.
Mohammed Nalla: If you look at the sectoral breakdown of what you're covering, financials are coming through quite strongly there.
I'm going to pivot a little bit away from that because I want to try and cover different regions as well. And just talking about South Africa, you mentioned fintech, you mentioned “buy-now, pay-later”. It's a high-growth market down in South Africa.
I was looking for other high-growth markets out there. And Latin America comes through. We've covered a stock like Mercado Libre in the past as well. That's the “Amazon” of Latin America.
What I'm going to cover now is slightly different, because it's a business I know our listeners will be familiar with, although they wouldn't have heard of it. And that is a business called Coca-Cola FEMSA. So, it's not Coca-Cola, it's actually the Coca-Cola bottling business, down in Latin America.
And Coca-Cola obviously is a majority shareholder or a large shareholder in that business. The important thing here is again the rationale behind some of this.
I got into this around November, with a similar kind of rationale on the technicals above the 200 week, sustained that.
On the fundamentals, Latin America has the demographic dividend that you pick up with emerging markets. And I wanted that emerging market flavour to come through. From November to now, it’s up around 11%. So, it's a shortish time period. It's not shooting the lights out, but it's a solid business underlying that.
And why I like that as well, is if you look at this business, they have actually diversified beyond just Coca-Cola products. So, they know their business, they are a bottler, and they're very efficient, good operations and so forth. And they also bottle for other products in that market.
So that gives me a little bit of diversification away from fizzy drinks, if we're worried about that. And then on the dividend yield at present prices, around 3.5% when I got in, obviously a little bit better than that. So that's Coca-Cola FEMSA.
It's one I think we should maybe consider covering in Magic Markets Premium because it's just an interesting business. Gives us a different lens on a completely different geography. And that added a little bit of LATAM flavour into my portfolio.
Now before I hand back to you, I'm going to actually touch on a stock that I know our listeners will be familiar with, and I want your views on this as well. It's been one of the better performers in my portfolio - British American Tobacco.
I know we can talk about, you know, “sin” taxes and all of this kind of stuff, but if you're looking at vices, then with British American Tobacco (and a lot of people don't like this business) - long-term listeners will know exactly why I like this business.
I mean, even at current prices, you're sitting at a 5.8% dividend yield. So that's pretty solid. And I got into this around February of last year, so just over a year right now, and it’s up around 60% over that time period.
I've gotten quite nervous. I did recycle capital on this one, so I had a slightly larger position. On the rally that we'd actually seen into the latter part of last year, and then certainly earlier this year, I got a bit concerned. I took half the position off.
Maybe it's been the right call. Initially, I was kicking myself, because inevitably it goes beyond where you'd actually exited the position. But we've actually seen some of the steam come out of that. And I know you do look at British American Tobacco because they’re listed in South Africa.
What's your view on British American Tobacco? Because like I say, it's not that far off its 52-week highs. Probably around $10. I'm looking in dollar terms: $10 off its highs over the last 52 weeks. But it's certainly not at levels that we had seen in the heydays, back in like, 2017.
So, do you think there's maybe more juice in the tank here? Certainly, as they pivot away from tobacco into e-juices and that kind of stuff. Is there more juice in the tank?
The Finance Ghost: Look, it's very interesting. I ethically don't particularly love the whole British American tobacco vibe. So, it always feels to me like the investment thesis is based primarily on people being addicted to the product. But that's just a very personal thing and zero judgment in either direction.
Interestingly, I did a poll on this actually, Moe, in Ghost Mail. A quarter of respondents said they are not interested in British American tobacco for ethical reasons. One in four. So that's interesting.
And then it was a pretty even split. So, 35% said they’re bullish on this thing, hard currency defensive; and 40% said it's a dying industry. Because I can't help myself, my option there was “dying industry, literally”, unfortunately.
So pretty even split there among people who are willing to own the thing. It’s that typical defensive single-digit growth, and it kind of just keeps going. It's amazing how well that share price had actually been doing, last time I looked. It is quite extraordinary. It shows you that people were looking to dive into a safe place, actually.
And I think we'll be able to discuss the stock maybe in more detail in Magic Markets in time to come. Because I know that one of the partners who's working with us at the moment is quite keen to come and chat about it in some more detail. Let's see when that maybe comes through. It's not one that I have in my portfolio.
Interestingly, I also don't have AB InBev, and there it's not anything… I mean, I do drink, so you know, for me it's not an ethical thing. Moe, it's different for you. For me, I just think that alcohol is just completely different… it's not defensive. Whereas British American tobacco is defensive.
Alcohol, I think, has got a lot of risk. It's not that people stop drinking, it’s that they just drink less and that's enough - that's enough to strip out the margin. You just need your volumes to drop by… If I'm having four drinks instead of five, it's a 20% drop in my consumption. That's material.
Mohammed Nalla: I think if you look at those alcohol names, I don't invest in the alcohol names, again for ethical reasons. So, if I'm going to pick a vice, it's got to be British American Tobacco. I actually pick this over some of the arms manufacturers. So that's how I justify it - you've got to pick an evil. Pick the least evil of the evil bucket.
Alcohol sales, that's been a completely different story - and massive volume pressure just globally, you're seeing that.
It's also why I chose Coca-Cola FEMSA over Coca-Cola proper. Because you can look at alcohol, or you can look at sugary snacks - and the pressure that's coming there from the GLP-1s, people trying to live healthier lifestyles, and try and balance that out.
So, I was saying if I'm going to go on the other side of a balanced healthy lifestyle, then British American Tobacco, that's been a nice solid winner. Interesting that you say it's a 50-50 split of the respondents that are willing to invest in it.
I just think it was so hard hit by a lot of concerns around being a dying industry, and so forth. And on a juicy dividend yield, it’s a fairly defensive play. I'm happy with it in the portfolio, but I am concerned - and could possibly look at recycling some capital.
Ghost, I don't know if you have any other names. I still have a bit of a list to go through.
The Finance Ghost: Let me give you my loser, and then I'll let you take us home with whatever time we have left. So, my loser, very quickly, is Mr. Price. They just don’t seem to be recovering, unfortunately. So, this is all self-inflicted. It's that NKD transaction in Europe, just a massive own goal. The market hates the thing.
I'm down 18% on Mr. Price and what's really annoying is I bought them a few months before they announced that transaction. Because I thought, “Okay, of all of the local clothing names, this one looks like the steadiest strategy.” Well, LOL, that didn't last.
They went and announced this deal and that did not work. So, it's down 35% off the 52-week high.
And that also again just shows you… So Prosus is down by a relatively similar percentage off its 52-week high to Mr. Price, and Prosus strategically has not done anything wrong. Whereas Mr. Price strategically (in my mind and in the mind of the market) made a pretty big misstep here.
So, it also just shows you how stocks sometimes move in tandem. Whether they should or shouldn't is of course the great debate that gives us opportunities in the market. Little bit of positive momentum in the past few weeks, though, in Mr. Price - so just maybe it'll start to claw its way back.
It's one of those where I'm not going to sell it now, because it's taken the pain and I think over time it will claw it back. I hope it's still a good business, and hopefully the NKD deal isn't a complete disaster, and it's just bad as opposed to terrible.
Maybe it's even decent. I guess time will tell. So that's been the recent loser for me. That's been very annoying. I'm keen to hear more about yours, Moe.
Mohammed Nalla: I've given you the worst offenders in terms of the losers. I mean one of the other losers is Microsoft. That's an easy one. I got in very recently. It's down from where I got in. But that's an early position. It's like what, a month old? Thereabouts. I'm willing to ride that one out over the longer term. I'm not too concerned around that.
Looking at stocks that are significantly off their recent 52-week highs and so forth, we've covered Netflix around two months ago at their last results. We are covering Netflix in Magic Markets Premium this week. So, I'm not going to give anything away.
But Netflix was trading what, like 30%, 40% down off their 52-week highs? We liked it in our last report. I certainly took a position. I think you've taken a position as well. Now that's been a nice winner. It's up around 20% and that's just over the last couple of months. So that's what I'm willing to ride for now.
But again, we will go into the detail in our report for our subscribers. If you aren't subscribed to Magic Markets Premium, it's only R99 a month. Lots of deep, detailed, deep-dive research every single week. So go and check that out.
So, Netflix is a winner.
Then, NextEra Energy: I don't know if you're still invested in this. That was a utilities play. I've liked that. I’m also running on just over a year in terms of my exposure there, up around 37%. The narrative was a defensive tilt.
You can see again, early last year I was concerned around US tech valuations and so forth. So, I recycled some of that capital. Some of that went to China on valuations, some that went into utilities in the US, and the energy play around AI, all of the build out there.
I like the energy play for a number of reasons. So that's up. I'm up around 37%. That's not too bad. Over the course of the last year. I'm happy to keep that. It's a long-term position. I like the dividend yield on that one.
I'm going to end on resources. The reason I'm going to end on resources is because I mentioned on the show a little while ago (when we had all this noise around oil) that I had recycled capital out of names like Suncorp Bank, Western Midstream, Shell.
Initially I was wrong. The thing went even further just because of where oil prices have gone. But I've taken that money off the table. I do still have some oil exposed names in my portfolio, but I would say I'm running at around half or maybe even 35% of what my oil exposure was, going into this kind of situation.
But what I haven't cut in the resources space is Rio Tinto. That's a name I know our listeners down there will be familiar with. It's not listed in South Africa to my knowledge, but it's a global resources giant.
I got into this around Q4 last year, October, and it’s up around 60% since then. Part of the narrative is just consistent for me. I look at the technicals, I look at the fundamentals,
On the technicals, it went above the 200-week moving average, was sustaining that. I was happy with that. And then I also had a view in terms of just global growth. Yes, there's some question marks around that now with the war as it stands. But I was the beneficiary of a large run-up in metals prices. Copper did really well over that time period.
And the question I haven't yet resolved in my mind is, are we in another commodity supercycle?
It might be too early to actually call it that. But if the war resolves, the world's not necessarily in a bad space. We've got onshoring - that's got to occur. We've got grid build-outs that have to occur. That's all pretty bullish for the commodities complex.
And so, I've happily held onto Rio as a winner in that space. I know there's been a lot of corporate activity there as well. There was some news and noise around a potential deal, mergers and acquisitions in that space.
I'm riding it out for now. I probably need to do a much more detailed deep-dive on this, just given how much it's run. Should I recycle capital, or are we in a super-cycle narrative?
I'm ending on a high, up around 60% on Rio Tinto.
Winners and losers. The long-term portfolio has done well over the course of the last year. Where I've taken the pain has really been in the trading portfolio. I share that pain with our listeners every single time I sit there and I'm like “What's going on?”
But that's a very different risk profile. I expect that to be exceptionally volatile, and sometimes it's up fantastically, sometimes it’s really bad. And some of the big losers are there. That's where my losers have been.
I had Novo Nordisk, and that thing completely fell from the sky. Bouncing recently - as the universe would have it, it bounces after I sold out of my position. So, if you want to end on “Hey, you’ve got to share your losers”, there's one, but it's just not in my long-term portfolio.
The Finance Ghost: Yeah, that's unfortunate, Moe. Sorry that that's what happened to you. I think we'll leave it there for this week then. We are out of time. It's been a fun little look at some of the names in our portfolio.
Listeners are always welcome to let us know what you are buying, selling, holding, worried about, or would like us to talk about, actually. If there's anything on your list, then please do let us know - and come and join us in Magic Markets Premium where we do our deep dives into stocks, and bring you some of those insights.
So, thank you for joining us this week and we'll do this again with you next week.
Mohammed Nalla: Indeed. Hit us up on social media. It’s @MagicMarketsPod, @FinanceGhost and @MohammedNalla, all on X. Or go find us on LinkedIn. Pop us a note on there. We hope you’ve enjoyed this until next week, same time, same place. Thanks, and cheers.
The Finance Ghost: Ciao.
