Jsedirect With Simon Brown

Simon Shares Shoprite* (JSE code: SHP) trading update sees full year profits down. But the real point is that the second half of the year was way better than the first half as they fixed DC and IT issues and had no further strike action. But it is still tough with lots of products in deflation which is squeezing margins. Massmart (JSE code: MSM) update was a shocker with Game bleeding like crazy. Not a surprise, but as Nic Norma-Smith said on Twitter "Wal-Mart paid $2.3bn for 52% of Massmart in 2010. Today the stake is worth $370m.". Ouch. NFEMOM*, the ABSA momentum ETF has been flying and is almost +20% year-to-date and just behind the S&P500 and best over last year (of indices, local and sub, that I track). I always like momentum and when ABSA changed the methodology of this ETF I switched my personal momentum portfolio into the ETF. Just as I did this everybody claimed momentum was dead, and the ETF struggled. But momentum never dies, even when (if?) value ever comes back, those value stocks will gain