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Cannon Asset Managers is a licensed asset management business based in South Africa that manages domestic assets as well as global investment portfolios. Since our formation we have successfully applied the philosophy and principles of value investing, an investment management approach that consistently has demonstrated a clear advantage over other philosophies.  Consequently, over the years Cannon Asset Managers has developed a reputation for successfully delivering portfolio results to our clients who include companies, pension funds, insurance companies, trusts, high net worth individuals and retail investors.

Highlights
Oil extended gains on Wednesday after posting its strongest daily rise in weeks in the previous session, supported by bets that US crude stockpiles will fall for a second consecutive week as production slows.

Picasso’s “Les Femmes d’Alger (Version O)” set a record on Monday as the most expensive artwork ever sold on auction, by a wide margin of nearly $40 million, fetching just under $180 million.

Three of the big meteorological agencies on the Pacific Rim now agree: El Nino has come. In 1982-83, El Nino was blamed for setting off a series of droughts, wild fires and flooding from South America to Australia that cost $8 billion.

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