Mark Cutifani's presentation was pretty bleak, if you ask me. He is talking about breaking up a centuries old institution into a mere shadow of its former self - i.e. the end of Anglo as we know it. What positives can anyone possibly get from a speech like that?
I will give you this Skaap - it is incredibly frustrating (no, infuriating) to see ones high quality shares being thumped because Mr. Trader has taken off after the resource counters. I suppose I should have dumped them when this started - but I am not that good at this (and then there is the tax aspect.) Anyway - as you were saying - the resources are all about hope at this point - the fundamentals are shocking - but if there is a sustained $ reversal - commodities could come off the floor at a stunning rate - and all of these companies will be churning cash again.
Once all the bad news has been priced in no one is concerned about history, it's the future that everyone is hopeful about. All the resource companies have been coming out with bad updates, and the shares are reacting by heading north. Strange, but true.
AND there is apparently speculation surfacing (again) that AGL is a takeover target. She is also benefiting from PT exposure in these markets. ANGLO is not remotely the vast diversified conglomerate she once was - by design. Cynthia Carroll was tasked with transforming her into an aggressive pure commodity play. If you calculate the value of all of the dividends - and spinoffs - she has done very well for her shareholders (half of the JSE seems to have been an ANGLO company at one time or another. It will be sad to see the name disappear but this company is not, in any way, the Anglo American of yesteryear. The age of conglomerates is dead !- long live the conglomerate.
AGL - Notification of major interest in shares. Deutsche Bank AG 33,120,587 Never too sure if this is a notification of buying or selling. Can someone confirm. Also, how significant is this, would it be a positive sign of institutional investment?