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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
It’s been an interestingly positive week with the resource sector, namely gold, flying and the South African Rand finally coming to the party with a 2.64% strengthening against the US Dollar. The ZAR currently trades at levels around R15.49. After CEO of Anglo American, Mark Cutifani, delivered disappointing news to its shareholders, the stock seemed to favour the silver-lining painted around all the negativity. Since last weeks ‘Making Cents’, AGL is up over 30%. Famous 1993 paintings by Keresemose Richard Baholo, a prominent black-African protest artist, have been destroyed in the UCT Rhodes Must Fall protests. The DOW Jones Industrial Average index has had three consecutive positive days in the market, increasing by 5.07%. With the Volatility Index retreating and the US 10 Year Bond Yield heading back over the 1.80 level, could this be the beginnings of a market comeback? Apple’s Tim Cook to take on the US Government in fighting the release of privileged client data of Syed Rizwan Farook, the man who massacred 14 people at an office party in San Bernardino in December 2015.

Read more in the document below:

Oil Is Literally Dirt Cheap



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