Simon’s Weekly Wrap: The Dimming Fortune of Estée Lauder’s Stock
Estée Lauder was a popular stock during the post-pandemic rally, hitting new heights. However, in recent years, its share price has dropped by approximately 80%. I had a conversation with Tasneem Samodien from Old Mutual Private Wealth to explore the reasons behind this decline. Essentially, management struggled to innovate with new retail strategies, made several poor acquisitions, and faced debt downgrades. The new leadership now has the challenge of rebuilding the brand’s esteemed reputation, which will require time.
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Linked Investment Service Providers (LISPs) have a critical role in South African investing, and King Alexander Investments has launched a new pricing structure. I discussed their flat platform fee with CEO David Lloyd, which replaces the conventional percentage-based model, providing substantial savings for investors. They also offer various advantages aimed at boosting investor returns.
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During the Berkshire Hathaway AGM last Saturday, Warren Buffett announced his retirement as CEO after sixty years at the helm. I spoke with Anchor Capital CEO Peter Armitage about Buffett’s lasting legacy and the valuable lessons private investors can take from him, including ways to incorporate his investment philosophy into our portfolios.
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PGM prices continue to encounter difficulties, and I spoke with Jaco Prinsloo, CEO of AIM-listed Sylvania Platinum, about their recent results and venture into chrome. Their chrome plant, a joint venture, is set to begin operations this month, contributing vital revenue. The company is also in a strong financial position, being debt-free, which is particularly important in the current PGM market.
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