WeBuyCars will IPO at R18.75 tomorrow 🏎️🏎️

Personally, I'm staying away 🚶‍♀️🚶‍♀️

- listing valuation multiples are on the rich side (esp for a 5% margin business), some optimism baked into this price**
- Transaction Capital using a meaty chunk of proceeds to settle their own debt (short term credit facilities) is a rough place to be
- not entirely convinced on the SA macro industry growth outlook story being positioned here

** I really love IPOs where a bit of money is left on the table... this doesn't look or feel like one of them 📈📈 there's an entirely separate conversation around listings by private equity & how much juice gets extracted before assets eventually get to market... you're often pretty late to the party as a retail investor

another convo is the @JSE_Group being starved of high quality IPOs

seeing Nelson Mandela's belongings auctioned off echoes an an ancient Chinese proverb on wealth

富不过三代 (fu bu guo san dai) - "wealth does not last beyond three generations"

the first generation creates it
the second generation preserves it
the third generation squanders it "shirtsleeves to shirtsleeves in three generations"

the Williams group (a wealth consultancy) researched 3,200 wealthy families over a 20 year period

by the second generation, 70% of their wealth evaporated
by the third generation, 90% lost nearly all their wealth

I was still a newly minted investment banking associate in New York learning the finance game

one of the MDs dropped this wisdom bomb:

“remember this, the working class PAY to be seen & heard… the rich PAY to be invisible”

this still sticks with me & you see it A LOT!! “old money whispers & new money shouts”

except old money does flex… they just flex different

it’s art collections, philanthropy, family crests, elite schools, concierges, remote ski trip locations & inaccessible experiences

they’re seen & noticed by people in their cohort

Massively proud to share our @Banker__X private members network, WealthX is now live!! 🍾🥂

The platform will host short online courses, eBooks, 1 on 1 coaching, calculators, quizzes & networking events. All our content pulled into ONE place.

Join here: bankerx.club/p/wealthx
All the core WealthX content & features will be free. Accessibility is why we started BankerX in the first place.

For advanced skills courses, deeply technical content, exclusive private community tiers & personalized (1 on 1) coaching - there will be paid offers.

looking to transform your body? here’s every HARD lesson I learnt on my journey to help you lose weight & get fitter

it’s one of the toughest yet most fulfilling things I’ve ever done & a lot of this is deeply personal [thread]

1. love the process 🤍

find a sport/class/ workout you enjoy & set performance goals (vs weight goals)

example: target a pace you want to run a 5km

I took up powerlifting & it completely changed my life

my goal then? to deadlift 1.5x my bodyweight… today I’m closing on 3x

Le Creuset is owned by South African, Paul Van Zuydam 🇿🇦

the iconic cookware brand will turn 100 years old in 2025 & is aiming to clear $1bn in annual sales 📈

its global expansion has been phenomenal - despite being founded & manufactured in Fresnoy-le-Grand (France), just 5% of total sales come from France (used to be 50% in 1988) 🇫🇷

Roughly 50% of all sales are from French-made traditional cast iron products & they manufacture 10 million pieces (pots & lids) every year!🍲
how Paul Van Zuydam ended up owning 100% of Le Creuset is fascinating 🇿🇦

Paul was given a choice, become an accountant or work on the family farm (its accrual world)

so Paul becomes an accountant & works with his uncle at EFI industries (a struggling bakeware manufacturer)... within a couple months they turn the business around

then Paul buys out his uncle & owns EFI

your quick guide to owning a Sorbet franchise! 💄💄

Sorbet is now fully owned by the Clicks Group (was previously owned by Old Mutual Private Equity through Long4Life)

set up costs depending on the store type range between ZAR 2m - 3m & require at least 50% of the initial investment in cash

store types cover salons, nailbars, hairbars, Sorbet man & candi&co

there's 220 locations across the country with a loyalty program of 600k+
here's the detailed breakdown of expected set-up costs across each type of Sorbet store configuration

you can own a King Pie franchise for R275k cash [thread] 👑 King Pie belongs to the Bidvest Group & now has over 300 locations*

the strategic positioning is simple: convenience, cost & comfort food

in the pie game, location is everything!! customers tend to be... flaky👀

(*their best selling pies are steak & kidney & pepper steak)

your ultimate guide to escape the 9-5 grind🏖️💰 [thread] the real danger of a 9-5 isn't that life is better outside. It's that life gets TOO GOOD within a corporate. You're so comfortable & complacent, there's no incentive to change

Why risk the salary & dangling carrot of a fancy promotion?

The longer you stay, harder it is to leave

your ultimate guide to buying repossessed houses & property on auction! [thread] picture this: a property influencer DJ comes along & says "okes, it's a great time to buy a crib! interest rates are at historic lows!"

fast forward two years & folks are tapping out on their bonds... banks are collecting cribs like infinity stones

the game is cold

⚠️Just 6% of South Africans will retire comfortably at 65. Being a broke boi pensioner isn't fun ☹️

ONE bad decision in your 20s into a wrong product can wipe out 75% of your entire investment!!

How to hack the fine print & find the best low fee players in the game [thread] right now there's a decent chance you're being hammered on your retirement annuity/ pension fund with excess fees

R100k growing at 6% each year for 25 years = R430k
the same R100k after 2% in fees = R260k

40% evaporated... just like that 📉📉

shout-out to David Hurwitz (CEO) who dumped his 40% stake worth R51m in December before the Transaction Capital stock price crashed nearly 70%

https://twitter.com/iamkoshiek/status/1581742345988771840

homie racked up debt using his shares as security... got to admire the hustle

Purple Group (EasyEquities) stock crashed more 65% in the last year wiping out R2.5bn in shareholder value

The best part? A crew of EE Executives dumped R100m in stock across the past 18 months while retail investors burned

Even the CEO's wife sold off stock! [Thread] This isn't the new season of Succession, it's just CEO @CharlesHSavage shuffling stock transactions across his wife & daughter

Silicon Valley Bank (SVB) in 90 seconds! [THREAD] 1. Who is Silicon Valley Bank (SVB)?

- was the 16th largest bank in the US
- largest bank by deposits in silicon valley
- most of its clients are startups, private equity & VC firms

Congrats! you just landed your dream job, here's how to decipher the offer [thread] it all happens quickly - you land an offer & start filtering mansions on Property24 from high to low, being posting motivational quotes on IG with #MoneyNeverSleeps & even start buying popcorn at Ster Kinekor

... a month later you're hitting refresh on Lulalend

single income, no kids 💰
dual income, no kids 💰💰
multiple income, working kids 💰💰💰 kids that don’t actively contribute to household income is poor financial planning

20 of my best threads from 2022 to make you wealthier! [thread] 1. how to analyze the stock market (stuff in this thread literally saved me millions this year)

https://twitter.com/iamkoshiek/status/1479117167274520584?s=20&t=6nfkYF6SVgqXN7lR0fck8g

turned out to be the worst year for stocks since the 2008 financial crisis

https://twitter.com/iamkoshiek/status/1479117167274520584

this year major tech stocks declined the most in 20+ years (sharpest fall since the DotCom crash)

💡💡the helpful power thread!!⚡️🔋

please post your UPS/ inverter/ solar solutions in this thread with any useful advice for first time buyers 👇🏽👇🏽 saw this tweet & felt it would be a great idea to collate everything in one place

https://twitter.com/dwaine_van/status/1604124520562008065

Two of the highest paid footballers in the world playing for the same club owned by Qatar’s sovereign wealth fund are facing off in the World Cup final… in Qatar 🏆🏆 biggest gripe with Hansie - homeboy was out there fixing follow-ons & declarations for cheap leather jackets from indians instead of securing us a World Cup final… smh

thanks to rolling blackouts, wet weather & a terrible economy this December feels like a stack of Mondays ke Dezemba is when you wake up to sounds of sis Bettina… this year it feels like it’s Carte Blanche intro music