Jsedirect With Simon Brown

Hedge funds for everybody Hedge funds for everybody Simon Shares MTN have concluded the Nigerian fine at around a third of the initially proposed fine. A good deal for the company but they should never have found themsleves in the position in the first place an I still do not like management and am not a buyer. Pick n Pay (JSE code: PIK) are finally getting rid of their 35-year pyramid structure that key control of the company in the Ackerman hands even though they only held c26% of the shares. But they are retaining control via special unlisted B shares, so nothing changes and the company remains under the control of a family who frankly have conceded the title of retail to Shoprite (JSE code: SHP). Brexit fears are running wild, ignore it. It's just short term noise. Big picture it matters not one way or the other, it just hysteria right now that will reach deafening levels by the time they vote next Thursday. Jean Pierre Verster portfolio manager Fairtree Capital The hedge fund industry in South Afr