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.

Market volumes traded have fallen drastically over the last week as the world awaits some form of direction from the US fed. Janus Capital’s, Bill Gross, has stated that he thinks Yellen will raise interest rates by 25 basis points later this month. Nigeria slipped into recession after reporting lower growth figures for two consecutive quarters. The rand has slipped from around R13.85 last week to 14.70 against the US dollar on the back of both the Gordhan/Zuma saga as well as Futuregrowth Asset Management halting all investments into top SA government parastatals. Technical analysts have a target of around R15.15 to the US dollar in the near future. Gold and platinum have now hit three-month-lows and oil now at a three week low for a barrel.

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The Over Budget Olympics? | Cannon Asset Managers research

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