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Top 9 stocks for 2023 review

April 17, 2024
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Anthony Clark
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Anthony Clark

With Quarter 1 passed I update & review my top stocks selection of 2023

At the start of 2023 I chose a basket of stocks on the JSE that I believed would outperform the general JSE Small to Mid Cap Indices I track in my universe of share coverage

For the past two years the JSE Small Cap index has always started the year strongly and outperformed the ALSI and Mid Cap indices not in Q1 2023its lagging but doing better than the Mid Cap Sector

Part of this reason I believe is liquidity. There has been in my view a general institutional sell-off of a percentage of their holdings of the more liquid mid-cap blue-chip stocks as these very stocks have liquidity and can be more easily traded.

Some institutions have wanted to de-risk exposure to domestic South African industrial stocks and as they could not quickly and efficiently exit the smaller, illiquid small caps they raised funds via selling the mid caps. This started when this country was gray listed by the international community re: money laundering. This is just my opinion as an analyst that has covered the sector for 30 years.

The very illiquidity of small caps (may) have saved their sell-off.

In this review I provide feedback on the performance of my Top Stocks for 2023 as well as some commentary on each of the stocks.

In reviewing the performance and the stocks - I have spoken and / or met with every singe one of the nine companies in the past weeks so I have direct feedback.I'd not want to change the composition of the list (even if I could)I can't as the list is cast in stone until the end of 2023.

 

https://drive.google.com/file/d/1qWqedKLwwKLL1KBAH6Ii5rnT54AjqeyI/view?usp=share_link

 

 


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