NS Investments
1.3K posts
NS Investments
@NStepmum
Dua lipa fanboy // 24 yo // If youre gonna lose all your money, then at least have some fun doing so https://t.co/YBAn6pxRs9
$SSL 🇿🇦 As the Ex-US trade and long EM / commodities picks up, I think SA is a good place to hunt for longs. The South African central bank’s new inflation target released last week as been under reported on and serves as a big macro catalyst for local equities
$KSPI $HEPS I got some feedback from the company related to my questions about dividends over buybacks! (sharing with permission) Questions: During the Q3 call, you mentioned preferring buybacks over dividends at the current valuation. 1) $KSPI is more cheaply valued now, so I'm trying to understand what led to the decision to go forward with dividends over buybacks? 2) Is there any capacity for buybacks with the dividend reinstatement? 3) Do you have any capacity to buy more of Hepsiburada with the dividend reinstatement? Answers: 1. There are pluses and minuses to both dividends and buybacks. However, as a frontier market, non indexed stock a lot of our core institutional shareholders frequently tell us they want a high and predictable level of return to justify off index risk. A dividend is the most visible way to deliver this. 2. The payout ratio is quite high and we also have other uses for cash. Therefore we certainly can’t do meaningful buybacks in the short term. Of course, it’s a possibility over the medium term. 3. Yes this would be one of the other potential uses of cash. We will remain opportunist with regard to increasing our stake in Hepsi. --- (attached email image below!) My thoughts: While I understand the reason behind dividends over buybacks, I hope there is enough cash in the medium term for buybacks too. Also, interesting color on $HEPS stake!
When we bought leases at $58 oil, we never factored in an oil price higher than $60 Can someone with a CFA help me understand what happens to our IRR at $92 oil?
