Daily Market Blog: Card is king
"The company has monster margins, remembering that their job is to process the payment, they are neither a bank or financial institution, they are a technology business that benefits from increased consumer payments. They have the payment networks and whilst Bitcoin and some other "unique" payment methods may be adopted by out there consumers, the internet shopping and ecommerce shift is a huge opportunity for them."
To market, to market to buy a fat pig. There was a period, like the Grand old Duke of York, when we were up (we were up!) and then we were down (we were down). There were also periods of being neither halfway up or down, in equities markets it is one or the other, I remember a day when the local market was around flat, that hardly ever happens. By the end of the local session we were off, pretty much across the board. There was of course the small matter of the new(ish) Reserve Bank Governor Lesetja Kganyago delivering the deliberations of the MPC. He is from the Eastern Cape, from a small town by the name of Alexandria. If I am not mistaken, that is the region where Woolies sources their long life milk. Those in the know will confirm that it is before Kenton-on-Sea, if you are coming from the Port Elizabeth side. When there is enough rain, it is certainly a beautiful part of the world. It is a great story, the rise through the ranks (for the SARB governor), a masters from the London School of Economics through to ultimately his appointment as chief of the bank last November. I have not seen a note with his signature yet, Michael pointed out yesterday, have you?