# Lunar Capital

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## Posts

- [Weekly Roundup 2022-09-02](https://lunarcapital.co.za/weekly-roundup-2022-09-02/): Snowflake, a data cloud company, released their 2nd quarter 2023 results last week. Revenue for the quarter increased by 83% year-on-year to $466.3 million.
- [Weekly Roundup 2022-08-26](https://lunarcapital.co.za/weekly-roundup-2022-08-26/): Snowflake, a data cloud company, released their 2nd quarter 2023 results last week. Revenue for the quarter increased by 83% year-on-year to $466.3 million.
- [Weekly Roundup 2022-08-19](https://lunarcapital.co.za/weekly-roundup-2022-08-19/): Last week, Walmart released their Q2 2023 results. The results were good and it gave quite an interesting insight into the current spending behaviour of US consumers, primarily.
- [Weekly Roundup 2022-08-12](https://lunarcapital.co.za/weekly-roundup-2022-08-12/): Under Armour: a creator, marketer, and distributor of branded athletic apparel, released their Q1 2023 results last week. For the quarter, revenue remained flat at $1.3 bn compared to Q1 a year ago.
- [Stories of some of the people who’ve invested with Lunar Capital](https://lunarcapital.co.za/invested-with-lunar-capital/): Ashraf Garda asks Lunar Capital investors why they have invested with Lunar Capital and their experiences with Lunar Capital.  
- [The story of how Lunar Capital started](https://lunarcapital.co.za/the-story-of-lunar-capital/): Sabir Munshi from Lunar Capital talks about the origins of an investment club, Higain Investments, of which he is a member; and how the long-term growth investment-philosophy developed in Higain Investments was used as a basis to start Lunar Capital.   
- [Weekly Roundup 2022-08-05](https://lunarcapital.co.za/weekly-roundup-2022-08-05/): Under Armour: a creator, marketer, and distributor of branded athletic apparel, released their Q1 2023 results last week. For the quarter, revenue remained flat at $1.3 bn compared to Q1 a year ago.
- [Weekly Roundup 2022-07-29](https://lunarcapital.co.za/weekly-roundup-2022-07-29/): Last week, many of the big US companies released their quarterly results for the period. Overall, the companies released positive results compared to what the market was expecting.
- [Weekly Roundup 2022-07-22](https://lunarcapital.co.za/weekly-roundup-2022-07-22/): On Monday last week, A Bloomberg article reported that there were rumours that the US Government wanted to restrict ASML from selling some of their older semiconductor equipment.
- [Weekly Roundup 2022-07-15](https://lunarcapital.co.za/weekly-roundup-2022-07-15/): On Monday last week, A Bloomberg article reported that there were rumours that the US Government wanted to restrict ASML from selling some of their older semiconductor equipment.
- [Why Numbers Matter – Lunar Capital Client Event Replay](https://lunarcapital.co.za/why-numbers-matter-replay/): Thank you all for attending our Lunar Capital Event: Why Numbers Matter on Wednesday 13 July 2022. We hope you enjoyed the conversation from Ridhwaan Suliman, our Guest Panellists and our CEO Sabir Munshi. If you missed the talk or would like to watch it again, you can do so below. And if you also have any questions or are interested in investing with us. Please email us at: info@lunarcapital.co.za or alternatively give Sabir a ring at: +27 83 305 7860 https://youtube.com/watch?v=9SdN99rUF6I%3Fstart%3D645
- [Weekly Roundup 2022-07-08](https://lunarcapital.co.za/weekly-roundup-2022-07-08/): On Monday last week, A Bloomberg article reported that there were rumours that the US Government wanted to restrict ASML from selling some of their older semiconductor equipment.
- [Weekly Roundup 2022-07-01](https://lunarcapital.co.za/weekly-roundup-2022-07-01/): Nike, one of the world's leading designers, marketers and distributors of athletics wear, released their 2022 Q4 and full year results on the 27th June. 
- [Weekly Roundup 2022-06-24](https://lunarcapital.co.za/weekly-roundup-2022-06-24/): Prosus and Naspers released their annual results for the year ended 31 March 2022. In the annual results, they announced that they would start a share repurchase programme for their Prosus and Naspers’ shares.
- [Weekly Roundup 2022-06-17](https://lunarcapital.co.za/weekly-roundup-2022-06-17/): Last Wednesday, The US Federal Reserve (Fed) announced that it will increase its benchmark interest rate by 75 basis points.
- [Weekly Roundup 2022-06-10](https://lunarcapital.co.za/weekly-roundup-2022-06-10/): Remgro is a holding company with several listed and unlisted investments. It has a market capitalisation of R70.3bl.
- [Lunar Capital Youth League – 2022 2nd Intake Invitation](https://lunarcapital.co.za/lunar-capital-youth-league-2022-2nd-intake-invitation/): Dear Lunar Capital Clients and Prospective Clients Invitation to Participate in the Lunar Capital Youth League Academy We are almost complete with the first intake of the 2022 Lunar Capital Youth League Academy programme. We are now ready to take on the second intake of the Academy for 2022. If you are under 35 and would like to learn about investing, this is your opportunity to apply for this programme, which is run free of charge! At Lunar Capital, our core purpose is to meaningfully impact the investment culture of communities and people whose lives we touch. We believe that learning […]
- [Weekly Roundup 2022-06-03](https://lunarcapital.co.za/weekly-roundup-2022-06-03/): Lululemon, a premium athleisure brand, released their Q1 2022 results on Thursday, last week. It has a market capitalisation of $38.5 bl.
- [Weekly Roundup 2022-05-27](https://lunarcapital.co.za/weekly-roundup-2022-05-27/): Nvidia’s Q1 2023 results were released last week, beating analyst expectations. However, Nvidia decreased guidance expectations for Q2.
- [Tough Times](https://lunarcapital.co.za/tough-times/): Challenging Times “ … (be) fearful when others are greedy, and greedy when others are fearful.” — Warren E Buffett This has been a challenging time for investors in the markets. Almost all asset classes have come down significantly. There are a few exceptions like oil companies that have benefited with the rise in oil prices due to the Russia/Ukraine war. As at the time of writing, the Nasdaq is down almost 30%, the S&P500 almost 20% and the JSE down almost 15% from their peaks. Some companies share prices have come down even more than 50% or even 70%. The reasons […]
- [Tech Talk on 5G](https://lunarcapital.co.za/tech-talk-on-5g/): “The earth, the sea and air are the concern of every nation. And science, technology, and education can be the ally of every nation.” — John F. Kennedy South Africa, through the Independent Communications Authority of South Africa (ICASA) took a big step, when it finally auctioned off the 5G spectrum last month (March 2022). 5G stands for fifth generation cellular network. Let’s quickly look at the advantages of 5G technology: 5G is substantially faster than 4G, allowing speeds of up to 20 Gigabytes per second. For example, movies can be downloaded in seconds, versus the minutes that it takes to download […]
- [Time to Panic? Time to Buy?](https://lunarcapital.co.za/time-to-panic-time-to-buy/): “The stock market is a device for transferring money from the impatient to the patient.” – Warren Buffett What a tumultuous time we live in currently, with the Russia/Ukraine War, increasing commodity prices, including oil; higher inflation and we don’t even know what Covid-19 has in store for us in the next round. Understandably, clients of Lunar Capital have called us to ask what they should do under these circumstances. Some are concerned and want to sell; some see this as a buying opportunities and others who want to invest don’t know whether they should or shouldn’t invest now. In our […]
- [Portfolio Review 2021](https://lunarcapital.co.za/portfolio-review-2021/): “All overnight success takes about 10 years.” ― Jeff Bezos In 2021, we achieved several milestones at Lunar Capital: Celebrated 5 years of the Lunar FR Worldwide Flexible Fund Launched the Offshore Portfolio management Service Increased our assets under management by 79% through growth and investments from existing and new clients, and take-up of our Offshore Portfolio management service We more than doubled our client base to 138 active clients. We would not have achieved this without the support of our clients. We are grateful for the trust that you have placed in Lunar Capital managing your hard-earned money. All our […]
- [Just when you thought …](https://lunarcapital.co.za/just-when-you-thought/): \”It is better to be roughly right than precisely wrong\” – John Maynard Keynes Just when you thought it was time for a good break, along comes Omicron, the latest variant of the SARS Cov-19 virus. In many ways, this is another reminder that the future is not certain. Trying to predict the future precisely is thus a futile exercise. However, there is significant opportunity in trying to pick out certain themes that could play out over the near to medium future, with the understanding that these themes may play out in different ways. So, what are some of the key themes that […]
- [Invitation Letter – Lunar Youth League](https://lunarcapital.co.za/invitation-letter-lunar-youth-league/): Dear Lunar Clients We are in the process of extending our Lunar Youth League to our existing clients and we would like you to join! At Lunar Capital, our core purpose is to meaningfully impact the investment culture of communities and people whose lives we touch. We believe that learning is foundational to creating a strong investment culture in South Africa. Therefore, one of our initiatives was to create the Lunar Youth League to upskill the investment knowledge of our young investors. We pilot tested this concept over the last year and are pleased to announce that we will be extending […]
- [Introducing Tech Talk - Shopriteˣ](https://lunarcapital.co.za/introducing-tech-talk-shoprite/): We at Lunar Capital follow an investment philosophy of “Growth at a Reasonable Price”. This essentially guides us to look for companies that have a growth strategy and that are trading at a reasonable price relative to their growth potential. This ultimately leads us to technology companies and companies that utilise technology to drive their competitive and growth strategies. Shopriteˣ In this first edition of Tech Talk, we feature Shoprite, a long-term investment in our Lunar FR Worldwide Flexible Fund. Shoprite serves over 1 billion customer per annum, and stock over 7 billion different types of products. Over 20 million of […]
- [Lunar Capital Webinar - Celebrating 5 Years & New Offshore Launch](https://lunarcapital.co.za/webinar/): 5 Year Performance & Offshore Portfolio Launch  Ashraf Garda in conversation with Sabir Munshi & Guni Goolab Prof Shabir Madhi on Covid 19  Download the Example Family Balance Sheet
- [Rating by citywire.co.za](https://lunarcapital.co.za/rating-by-citywire-co-za/):   We are proud at Lunar Capital to be recognised by Patrick Cairns from citywire.co.za on the performance and rating of the Lunar FR Worldwide Flexible Fund. https://citywire.co.za/news/sas-top-rated-balanced-fund-managers/a1470456?ref=international-south-africa-latest-news-list#i=5  
- [End of Year 2020 Report](https://lunarcapital.co.za/end-of-year-2020-report/):   “The value of our good(s)* is not measured by what it does, but by the amount of good it does to the one concerned.” Milton S Hershey At Lunar Capital, our ultimate measurement of how well we are doing is not by the fees that we earn or by the value of our assets under management but rather by the financial freedom you, our clients and co-investors have achieved; and the wealth that you have generated for your families. We have all suffered the consequences of the Covid-19 pandemic; from the loss of those close to us, to hospitalisation or […]
- [Exposure to cutting-edge global businesses](https://lunarcapital.co.za/exposure-to-cutting-edge-global-businesses/): Timothy Rangongo from finweek reviewed the Lunar FR Worldwide Flexible Fund. Read his review: “Exposure to cutting-edge global businesses”  
- [Local or Offshore?](https://lunarcapital.co.za/local-or-offshore/): Blog 43 – Local or Offshore? The debate on whether to invest locally or offshore has been raging again recently. Many financial commentators are comparing the returns on the JSE All Share index to the S&P 500 Index. The JSE All Share Index (ALSI) represents the broad South African stock market and the S&P 500 index represents the broad US stock market. Let’s take a look at illustrative 10-year returns on the ALSI and the S&P 500: The Rand weakness against the US Dollar during the last 10 years (from 7.39 to 14.00) also played a significant role in the JSE […]
- [Covid-19](https://lunarcapital.co.za/covid-19/): Our Performance and Investment Strategy during the Covid-19 Pandemic.  
- [Portfolio Manager’s Report as at 31 December 2019](https://lunarcapital.co.za/portfolio-managers-report-as-at-31-december-2019/): LUNAR FR Worldwide Flexible Fund Investing is not easy because the market can behave in ways that is irrational in the eyes of investors or unexpected given investor sentiment and macro-economic trends. Our job as investors is thus to be able to sift through all the information that could affect share prices and identify those drivers that are pertinent at any point in time. Then, to act accordingly. This is no trivial task. Looking back at 2019, sentiment in the South African market was and still is low, given the financial and political woes in government and state-owned enterprises; more shenanigans […]
- [Lunar BCI Worldwide Flexible Fund Three-Year Review](https://lunarcapital.co.za/lunar-bci-worldwide-flexible-fund-three-year-review/): View PDF Three Years On July 10, 2019 On 1 June 2019, we celebrated three years since the launch of the Lunar FR Worldwide Flexible Fund. We are very pleased with the support that we have received from our clients, business partners and our management and staff. Our clients are in fact our co-investors. Founding members of Lunar Capital continue to be significant investors in the Lunar FR Worldwide Flexible Fund, directly aligning our interests with that of our clients’ interests and ensuring that we have skin in the game. We are also particularly proud of the platform that we have […]
- [Who are you going to vote for?](https://lunarcapital.co.za/who-are-you-going-to-vote-for/): Elections Everywhere Nigeria, Namibia, Indonesia, India, Spain, South Africa, …. Elections Everywhere. It seems like 2019 is the year of elections. As citizens, we are all interested and invested (in the broadest sense of the word) in the outcome of the election in South Africa, and maybe even in some other countries’ elections too. We hope that the party that we support will be significantly stronger in this election than in the previous one. We are nervous of the parties that we believe to have policies that may affect our interests and aspirations. We hope that they do not get into […]
- [Share Focus: Microsoft (MSFT.NAS)](https://lunarcapital.co.za/share-focus-microsoft-msft-nas/): “Our strong commercial cloud results reflect our deep and growing partnerships with leading companies in every industry including retail, financial services, and healthcare,” said Satya Nadella, CEO of Microsoft. \”We are delivering differentiated value across the cloud and edge as we work to earn customer trust every day.” Microsoft’s mission is to empower every person and organisation to achieve more. This is quite a lofty mission, but arguably their mission from the 1990’s to have a PC on every desk has largely been achieved. Since Satya Nadella has taken over as CEO, Microsoft has been transforming itself from largely a software […]
- [Time for a Rest](https://lunarcapital.co.za/time-for-a-rest/): Listen to the podcast   Transcript In a few days, many people will be taking some time off from work for their annual vacation. That is of course if they are fortunate enough to have a job. So, when I was thinking about this blog, several thoughts came to mind: Firstly, let’s do something different; hence the podcast; Then, I thought about a fascinating book that I have been reading by Matthew Walker titled “Why we Sleep”; I also thought about what am I going to do over this period. There are always mixed feelings over this period for me. Firstly, […]
- [Good Markets, Bad Markets](https://lunarcapital.co.za/good-markets-bad-markets/): Market Overview The market has been on a roller coaster ride over the last 3 months, showing good gains in August, but having a significant pull-back in September and October, both locally and offshore. The markets are largely driven by high valuations in the US; rising interest rates in the USA and Europe; and low appetite for emerging markets, possibly as a consequence of trade wars and governance issues. Whilst there are macro-economic and socio-political risks, there are pockets of value emerging in South Africa. Portfolio Overview The portfolio declined in October, more or less in line with the market. During […]
- [Active vs Passive](https://lunarcapital.co.za/active-vs-passive/): Market Overview A struggling local economy, flight of capital from emerging markets to developed markets, a volatile Rand and generally low or negative growth in company earnings have been the main drivers of the poor performance in the South African equity market. The Rand has weakened significantly against the major currencies (-12.8% YTD against the USD) benefiting South African investors invested in developed offshore markets. The Nasdaq market has shown sharp increases year-to-date (+16.6%), with the JSE All Share Index down by -6.4% year-to-date.   Portfolio Overview The portfolio gave back most of the gains from August in September, largely as […]
- [Patience](https://lunarcapital.co.za/patience/): View in PDF Market Overview The current market is characterised by political uncertainty and multiple global economic issues. The main issues affecting the South African market are Rand volatility, emerging market woes and political and policy uncertainty. The Rand has weakened significantly against the major currencies (-19.4% YTD against the USD) benefiting South African investors invested in developed offshore markets. The Nasdaq market has shown sharp increases year-to-date (+17.5%), with the JSE All Share Index marginally down year-to-date (-1.4%). Key Indicators      31 Aug ‘18 31 Jul ‘18 31 Dec ‘17 JSE ALSI 58 669 57 433 59 505 Nasdaq […]
- [What to do about the Rand?](https://lunarcapital.co.za/what-to-do-about-the-rand/): [fusion_builder_container hundred_percent=\”no\” equal_height_columns=\”no\” menu_anchor=\”\” hide_on_mobile=\”small-visibility,medium-visibility,large-visibility\” class=\”\” id=\”\” background_color=\”\” background_image=\”\” background_position=\”center center\” background_repeat=\”no-repeat\” fade=\”no\” background_parallax=\”none\” parallax_speed=\”0.3\” video_mp4=\”\” video_webm=\”\” video_ogv=\”\” video_url=\”\” video_aspect_ratio=\”16:9\” video_loop=\”yes\” video_mute=\”yes\” overlay_color=\”\” video_preview_image=\”\” border_size=\”\” border_color=\”\” border_style=\”solid\” padding_top=\”\” padding_bottom=\”\” padding_left=\”\” padding_right=\”\”][fusion_builder_row][fusion_builder_column type=\”1_1\” layout=\”1_1\” background_position=\”left top\” background_color=\”\” border_size=\”\” border_color=\”\” border_style=\”solid\” border_position=\”all\” spacing=\”yes\” background_image=\”\” background_repeat=\”no-repeat\” padding=\”\” margin_top=\”0px\” margin_bottom=\”0px\” class=\”\” id=\”\” animation_type=\”\” animation_speed=\”0.3\” animation_direction=\”left\” hide_on_mobile=\”small-visibility,medium-visibility,large-visibility\” center_content=\”no\” last=\”no\” min_height=\”\” hover_type=\”none\” link=\”\”][fusion_text] Introduction This blog discusses the reasons for the volatility in the Rand and what the ordinary person can do to protect herself from the impact of a weakening Rand. Why has the Rand been so volatile? The South African Rand has experienced much volatility […]
- [Trade Wars](https://lunarcapital.co.za/trade-wars/): What is a Trade War? “A trade war is a side effect of protectionism that occurs when one country (Country A) raises tariffs on another country’s (Country B) imports in retaliation for Country B raising tariffs on Country A\’s imports. A tariff is a tax imposed on imported goods and services.” This is the definition of a Trade War as per Investopedia. For example, if the USA imports TV’s from China and China imports maize from the USA; then a trade war between the two countries could involve the USA raising tariffs (customs duties) on TV’s imported from China; and China […]
- [Share focus: NVIDIA](https://lunarcapital.co.za/share-focus-nvidia/): Nvidia manufactures high-end Graphical Processing Units (GPU’s) , i.e. computer processing chips. They work closely with software vendors that develop solutions on the Nvidia processors to build solutions for end-customers. Many AI (Artificial Intelligence), AV (Automated Vehicles); Cloud Computing Datacentres, and Gaming Applications utilise Nvidia processors. These are significant growth markets and the company has performed incredibly well over the past few years. It has strong relationships with software vendors. It recently built the fastest supercomputer in partnership with IBM. View our Summary 
- [Lunar BCI Worldwide Flexible Fund  Two-Year Review](https://lunarcapital.co.za/lunar-bci-worldwide-flexible-fund-two-year-review/): [fusion_builder_container hundred_percent=\”no\” equal_height_columns=\”no\” menu_anchor=\”\” hide_on_mobile=\”small-visibility,medium-visibility,large-visibility\” class=\”\” id=\”\” background_color=\”\” background_image=\”\” background_position=\”center center\” background_repeat=\”no-repeat\” fade=\”no\” background_parallax=\”none\” parallax_speed=\”0.3\” video_mp4=\”\” video_webm=\”\” video_ogv=\”\” video_url=\”\” video_aspect_ratio=\”16:9\” video_loop=\”yes\” video_mute=\”yes\” overlay_color=\”\” video_preview_image=\”\” border_size=\”\” border_color=\”\” border_style=\”solid\” padding_top=\”\” padding_bottom=\”\” padding_left=\”\” padding_right=\”\”][fusion_builder_row][fusion_builder_column type=\”1_1\” layout=\”1_1\” background_position=\”left top\” background_color=\”\” border_size=\”\” border_color=\”\” border_style=\”solid\” border_position=\”all\” spacing=\”yes\” background_image=\”\” background_repeat=\”no-repeat\” padding=\”\” margin_top=\”0px\” margin_bottom=\”0px\” class=\”\” id=\”\” animation_type=\”\” animation_speed=\”0.3\” animation_direction=\”left\” hide_on_mobile=\”small-visibility,medium-visibility,large-visibility\” center_content=\”no\” last=\”no\” min_height=\”\” hover_type=\”none\” link=\”\”][fusion_text] View PDF Two Years On On 1 June 2018, we celebrated two years since the launch of the Lunar FR Worldwide Flexible Fund. We are proud of our performance of 8.27% (after costs and fees and including distributions) for the two years to 31 […]
- [Hubris](https://lunarcapital.co.za/hubris/): Hubris Investors are faced with a multitude of risks in any investment decision that they take. With the recent results from Famous Brands, Mediclinic, Taste Holdings and also not so recently Woolies and Old Mutual; one can’t help wondering if executive hubris* is not one of the bigger risks that investors face.   Offshore Expansion In the name of offshore expansion, too many South African companies have lost significant shareholder value: Woolies was forced to write off R6.7bn after their disastrous acquisition of the David Jones business in Australia; Old Mutual finally through in the towel in their London listing and […]
- [Seeking Growth Markets](https://lunarcapital.co.za/seeking-growth-markets/): [fusion_builder_container hundred_percent=\”no\” equal_height_columns=\”no\” menu_anchor=\”\” hide_on_mobile=\”small-visibility,medium-visibility,large-visibility\” class=\”\” id=\”\” background_color=\”\” background_image=\”\” background_position=\”center center\” background_repeat=\”no-repeat\” fade=\”no\” background_parallax=\”none\” parallax_speed=\”0.3\” video_mp4=\”\” video_webm=\”\” video_ogv=\”\” video_url=\”\” video_aspect_ratio=\”16:9\” video_loop=\”yes\” video_mute=\”yes\” overlay_color=\”\” video_preview_image=\”\” border_size=\”\” border_color=\”\” border_style=\”solid\” padding_top=\”\” padding_bottom=\”\” padding_left=\”\” padding_right=\”\”][fusion_builder_row][fusion_builder_column type=\”1_1\” layout=\”1_1\” background_position=\”left top\” background_color=\”\” border_size=\”\” border_color=\”\” border_style=\”solid\” border_position=\”all\” spacing=\”yes\” background_image=\”\” background_repeat=\”no-repeat\” padding=\”\” margin_top=\”0px\” margin_bottom=\”0px\” class=\”\” id=\”\” animation_type=\”\” animation_speed=\”0.3\” animation_direction=\”left\” hide_on_mobile=\”small-visibility,medium-visibility,large-visibility\” center_content=\”no\” last=\”no\” min_height=\”\” hover_type=\”none\” link=\”\”][fusion_text] At Lunar Capital, we are continuously on the look-out for long-term investments that can benefit investors in our fund (and ourselves as we are also significantly invested in the fund that we manage). Ideally, we would allocate a portion of our fund to a […]
- [Share Focus: EPE Capital Partners (EPE)](https://lunarcapital.co.za/share-focus-epe-capital-partners-epe/): Ethos Capital (EPE) invests directly and indirectly in a diversified portfolio of unlisted investments, which are managed by Ethos Private Equity, the largest private equity firm in sub-Saharan Africa. View our Summary 
- [Inflation and its impact on stock prices](https://lunarcapital.co.za/inflation-and-its-impact-on-stock-prices/): [fusion_builder_container hundred_percent=\”no\” equal_height_columns=\”no\” menu_anchor=\”\” hide_on_mobile=\”small-visibility,medium-visibility,large-visibility\” class=\”\” id=\”\” background_color=\”\” background_image=\”\” background_position=\”center center\” background_repeat=\”no-repeat\” fade=\”no\” background_parallax=\”none\” parallax_speed=\”0.3\” video_mp4=\”\” video_webm=\”\” video_ogv=\”\” video_url=\”\” video_aspect_ratio=\”16:9\” video_loop=\”yes\” video_mute=\”yes\” overlay_color=\”\” video_preview_image=\”\” border_size=\”\” border_color=\”\” border_style=\”solid\” padding_top=\”\” padding_bottom=\”\” padding_left=\”\” padding_right=\”\”][fusion_builder_row][fusion_builder_column type=\”1_1\” layout=\”1_1\” background_position=\”left top\” background_color=\”\” border_size=\”\” border_color=\”\” border_style=\”solid\” border_position=\”all\” spacing=\”yes\” background_image=\”\” background_repeat=\”no-repeat\” padding=\”\” margin_top=\”0px\” margin_bottom=\”0px\” class=\”\” id=\”\” animation_type=\”\” animation_speed=\”0.3\” animation_direction=\”left\” hide_on_mobile=\”small-visibility,medium-visibility,large-visibility\” center_content=\”no\” last=\”no\” min_height=\”\” hover_type=\”none\” link=\”\”][fusion_text] What is Inflation? Inflation is when the prices of goods or services rises sustainably. This is when we as consumers pay more for our goods and services. To put it differently, it means that our money is worth less. We get fewer goods or […]
- [The Land Question?](https://lunarcapital.co.za/the-land-question/): In my opinion, the Land Question in South Africa raises a broader issue. It is the question of retribution for the crimes of colonialism and Apartheid. The Black Economic Empowerment policies attempted to address these issues but these have fallen short of meaningful empowerment of the previously disenfranchised. It has also had unintended consequences – fronting, favouring those close to the ruling elite, a laager mentality amongst many whites, etc. Add high levels of poverty and inequality, little access for many people to be able to earn a meaningful living; and this creates a ripe environment for a major social backlash. […]
- [Share Focus: Discovery](https://lunarcapital.co.za/share-focus-discovery/): [fusion_builder_container hundred_percent=\”no\” equal_height_columns=\”no\” menu_anchor=\”\” hide_on_mobile=\”small-visibility,medium-visibility,large-visibility\” class=\”\” id=\”\” background_color=\”\” background_image=\”\” background_position=\”center center\” background_repeat=\”no-repeat\” fade=\”no\” background_parallax=\”none\” parallax_speed=\”0.3\” video_mp4=\”\” video_webm=\”\” video_ogv=\”\” video_url=\”\” video_aspect_ratio=\”16:9\” video_loop=\”yes\” video_mute=\”yes\” overlay_color=\”\” video_preview_image=\”\” border_size=\”\” border_color=\”\” border_style=\”solid\” padding_top=\”\” padding_bottom=\”\” padding_left=\”\” padding_right=\”\”][fusion_builder_row][fusion_builder_column type=\”1_1\” layout=\”1_1\” background_position=\”left top\” background_color=\”\” border_size=\”\” border_color=\”\” border_style=\”solid\” border_position=\”all\” spacing=\”yes\” background_image=\”\” background_repeat=\”no-repeat\” padding=\”\” margin_top=\”0px\” margin_bottom=\”0px\” class=\”\” id=\”\” animation_type=\”\” animation_speed=\”0.3\” animation_direction=\”left\” hide_on_mobile=\”small-visibility,medium-visibility,large-visibility\” center_content=\”no\” last=\”no\” min_height=\”\” hover_type=\”none\” link=\”\”][fusion_text] Discovery’s purpose is to make people healthier and enhance and protect their lives. Does it make a good investment? View our Summary  [/fusion_text][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]
- [Goals Conceded, Saved, Missed and Scored](https://lunarcapital.co.za/goals-conceded-saved-missed-scored/): [fusion_builder_container hundred_percent=\”no\” equal_height_columns=\”no\” menu_anchor=\”\” hide_on_mobile=\”small-visibility,medium-visibility,large-visibility\” class=\”\” id=\”\” background_color=\”\” background_image=\”\” background_position=\”center center\” background_repeat=\”no-repeat\” fade=\”no\” background_parallax=\”none\” parallax_speed=\”0.3\” video_mp4=\”\” video_webm=\”\” video_ogv=\”\” video_url=\”\” video_aspect_ratio=\”16:9\” video_loop=\”yes\” video_mute=\”yes\” overlay_color=\”\” video_preview_image=\”\” border_size=\”\” border_color=\”\” border_style=\”solid\” padding_top=\”\” padding_bottom=\”\” padding_left=\”\” padding_right=\”\”][fusion_builder_row][fusion_builder_column type=\”1_1\” layout=\”1_1\” background_position=\”left top\” background_color=\”\” border_size=\”\” border_color=\”\” border_style=\”solid\” border_position=\”all\” spacing=\”yes\” background_image=\”\” background_repeat=\”no-repeat\” padding=\”\” margin_top=\”0px\” margin_bottom=\”0px\” class=\”\” id=\”\” animation_type=\”\” animation_speed=\”0.3\” animation_direction=\”left\” hide_on_mobile=\”small-visibility,medium-visibility,large-visibility\” center_content=\”no\” last=\”no\” min_height=\”\” hover_type=\”none\” link=\”\”][fusion_text] In a football league, the team that becomes the champion at the end of the season is the team with the most points¹. Three points are awarded for winning a game, one for a draw and zero for losing. A game is won by […]
- [Lunar BCI Worldwide Flexible Fund  End of Year 2017 Report](https://lunarcapital.co.za/lunar-bci-worldwide-flexible-fund-end-year-2017-report/): Market Overview The calendar year 2017 was another roller-coaster year for the investment markets in South Africa and globally. Some of the more significant events include: Ratings agencies downgraded South African sovereign debt to junk status, citing political and economic risks facing the country; Serious allegations of mismanagement and corruption in state-owned enterprises, including Eskom, Prasa, SAA and the SABC; President Zuma reshuffled his Cabinet resulting in amongst other changes, Pravin Gordhan and Mcebisi Jonas being replaced by Malusi Gigaba and Sfiso Buthelezi as Minister and Deputy Minister of Finance respectively; A volatile Rand, starting 2017 at around 13.75 to the […]
- [Share Focus: Facebook](https://lunarcapital.co.za/share-focus-facebook/): [fusion_builder_container hundred_percent=\”no\” equal_height_columns=\”no\” menu_anchor=\”\” hide_on_mobile=\”small-visibility,medium-visibility,large-visibility\” class=\”\” id=\”\” background_color=\”\” background_image=\”\” background_position=\”center center\” background_repeat=\”no-repeat\” fade=\”no\” background_parallax=\”none\” parallax_speed=\”0.3\” video_mp4=\”\” video_webm=\”\” video_ogv=\”\” video_url=\”\” video_aspect_ratio=\”16:9\” video_loop=\”yes\” video_mute=\”yes\” overlay_color=\”\” video_preview_image=\”\” border_size=\”\” border_color=\”\” border_style=\”solid\” padding_top=\”\” padding_bottom=\”\” padding_left=\”\” padding_right=\”\”][fusion_builder_row][fusion_builder_column type=\”1_1\” layout=\”1_1\” background_position=\”left top\” background_color=\”\” border_size=\”\” border_color=\”\” border_style=\”solid\” border_position=\”all\” spacing=\”yes\” background_image=\”\” background_repeat=\”no-repeat\” padding=\”\” margin_top=\”0px\” margin_bottom=\”0px\” class=\”\” id=\”\” animation_type=\”\” animation_speed=\”0.3\” animation_direction=\”left\” hide_on_mobile=\”small-visibility,medium-visibility,large-visibility\” center_content=\”no\” last=\”no\” min_height=\”\” hover_type=\”none\” link=\”\”][fusion_text] People use Facebook to stay connected with friends and family, to discover what’s going on in the world and to share and express what matters to them. View our Summary  [/fusion_text][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]
- [Delaying Gratification](https://lunarcapital.co.za/delaying-gratification/): [fusion_builder_container hundred_percent=\”no\” equal_height_columns=\”no\” menu_anchor=\”\” hide_on_mobile=\”small-visibility,medium-visibility,large-visibility\” class=\”\” id=\”\” background_color=\”\” background_image=\”\” background_position=\”center center\” background_repeat=\”no-repeat\” fade=\”no\” background_parallax=\”none\” parallax_speed=\”0.3\” video_mp4=\”\” video_webm=\”\” video_ogv=\”\” video_url=\”\” video_aspect_ratio=\”16:9\” video_loop=\”yes\” video_mute=\”yes\” overlay_color=\”\” video_preview_image=\”\” border_size=\”\” border_color=\”\” border_style=\”solid\” padding_top=\”\” padding_bottom=\”\” padding_left=\”\” padding_right=\”\”][fusion_builder_row][fusion_builder_column type=\”1_1\” layout=\”1_1\” background_position=\”left top\” background_color=\”\” border_size=\”\” border_color=\”\” border_style=\”solid\” border_position=\”all\” spacing=\”yes\” background_image=\”\” background_repeat=\”no-repeat\” padding=\”\” margin_top=\”0px\” margin_bottom=\”0px\” class=\”\” id=\”\” animation_type=\”\” animation_speed=\”0.3\” animation_direction=\”left\” hide_on_mobile=\”small-visibility,medium-visibility,large-visibility\” center_content=\”no\” last=\”no\” min_height=\”\” hover_type=\”none\” link=\”\”][fusion_text] Delayed Gratification In the world today, you can get most of what you want from a simple click: Want to eat? Click. Want a cab? Click. Want a book to read? Click. Want to know which of your friends are going to be in […]
- [Share Focus: Stadio BEE Offer](https://lunarcapital.co.za/call-share-focus-stadio-bee-offer/): [fusion_builder_container hundred_percent=\”no\” equal_height_columns=\”no\” hide_on_mobile=\”small-visibility,medium-visibility,large-visibility\” background_position=\”center center\” background_repeat=\”no-repeat\” fade=\”no\” background_parallax=\”none\” parallax_speed=\”0.3\” video_aspect_ratio=\”16:9\” video_loop=\”yes\” video_mute=\”yes\” overlay_opacity=\”0.5\” border_style=\”solid\”][fusion_builder_row][fusion_builder_column type=\”1_1\” layout=\”1_1\” background_position=\”left top\” background_color=\”\” border_size=\”\” border_color=\”\” border_style=\”solid\” border_position=\”all\” spacing=\”yes\” background_image=\”\” background_repeat=\”no-repeat\” padding=\”\” margin_top=\”0px\” margin_bottom=\”0px\” class=\”\” id=\”\” animation_type=\”\” animation_speed=\”0.3\” animation_direction=\”left\” hide_on_mobile=\”small-visibility,medium-visibility,large-visibility\” center_content=\”no\” last=\”no\” min_height=\”\” hover_type=\”none\” link=\”\”][fusion_text] Stadio (SDO) recently unbundled from Curro, which is part of the PSG family. Stadio will continue to be part of the PSG family. Post the unbundling, they have announced a capital raising rights offer) as well as an offer to raise R200m from invited BEE participants. View our Summary    [/fusion_text][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]
- [Thinking about my biggest investing mistakes](https://lunarcapital.co.za/thinking-biggest-investing-mistakes/): Shhh.. As the Naspers (NPN) share price keeps on powering ahead, I can’t help thinking why did I ever sell the Naspers I bought for my wife’s portfolio a few years back (Shhh.. please don’t tell her). In 2010, I bought some Naspers for my wife’s account for around R298 per share. Within a period of a few months, the share price rose by over 50% and I thought that this couldn’t get any better. Who wouldn’t want to earn a 50% return in a few months? So, I sold them to lock in the 50% gain. And since then, all […]
- [Interview with Sabir Munshi on what is Bitcoin and what the future may hold for Bitcoin](https://lunarcapital.co.za/interview-sabir-munshi-bitcoin-future-may-hold-bitcoin/): [fusion_builder_container hundred_percent=\”no\” equal_height_columns=\”no\” hide_on_mobile=\”small-visibility,medium-visibility,large-visibility\” background_position=\”center center\” background_repeat=\”no-repeat\” fade=\”no\” background_parallax=\”none\” parallax_speed=\”0.3\” video_aspect_ratio=\”16:9\” video_loop=\”yes\” video_mute=\”yes\” overlay_opacity=\”0.5\” border_style=\”solid\”][fusion_builder_row][fusion_builder_column type=\”1_1\” layout=\”1_1\” background_position=\”left top\” background_color=\”\” border_size=\”\” border_color=\”\” border_style=\”solid\” border_position=\”all\” spacing=\”yes\” background_image=\”\” background_repeat=\”no-repeat\” padding=\”\” margin_top=\”0px\” margin_bottom=\”0px\” class=\”\” id=\”\” animation_type=\”\” animation_speed=\”0.3\” animation_direction=\”left\” hide_on_mobile=\”small-visibility,medium-visibility,large-visibility\” center_content=\”no\” last=\”no\” min_height=\”\” hover_type=\”none\” link=\”\”][fusion_text] Sabir Munshi Director at Lunar Capital talks Salaamedias listeners through a number of questions explaining what the bitcoin is all about. Some stores are soon going to trade with bitcoins, hence we need to understand how it all works. [/fusion_text][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]
- [Second-Level Thinking](https://lunarcapital.co.za/second-level-thinking/): The best investors in the world have a great ability to look and think beyond the obvious. This characteristic is referred to as second-level thinking. In second-level thinking, one has to go beyond the obvious cause-and-effect type thinking. It requires one to ask deeper questions, like “So, What?” and “Could there be more complex dynamics or other hidden but more important factors at play?”   Fallacies Let us look at some recent examples to see how second-level thinking could have helped us in predicting an outcome that was different to the then prevailing analysis: US Markets Prior to the US elections […]
- [Thinking about investing in Cryptocurrencies like Bitcoin?](https://lunarcapital.co.za/thinking-investing-cryptocurrencies-like-bitcoin/): [fusion_builder_container hundred_percent=\”no\” equal_height_columns=\”no\” hide_on_mobile=\”small-visibility,medium-visibility,large-visibility\” background_position=\”center center\” background_repeat=\”no-repeat\” fade=\”no\” background_parallax=\”none\” parallax_speed=\”0.3\” video_aspect_ratio=\”16:9\” video_loop=\”yes\” video_mute=\”yes\” overlay_opacity=\”0.5\” border_style=\”solid\”][fusion_builder_row][fusion_builder_column type=\”1_1\” layout=\”1_1\” background_position=\”left top\” background_color=\”\” border_size=\”\” border_color=\”\” border_style=\”solid\” border_position=\”all\” spacing=\”yes\” background_image=\”\” background_repeat=\”no-repeat\” padding=\”\” margin_top=\”0px\” margin_bottom=\”0px\” class=\”\” id=\”\” animation_type=\”\” animation_speed=\”0.3\” animation_direction=\”left\” hide_on_mobile=\”small-visibility,medium-visibility,large-visibility\” center_content=\”no\” last=\”no\” min_height=\”\” hover_type=\”none\” link=\”\”][fusion_text] In this blog, we will briefly discuss what are cryptocurrencies, what you should consider before investing in them, and how you could invest in them as a South African investor.   What are cryptocurrencies like Bitcoin? A cryptocurrency (like Bitcoin) is fundamentally a digital currency. It can be exchanged to or from other currencies like the US Dollar or the […]
- [The ‘Biggest’ Risk in Investing](https://lunarcapital.co.za/biggest-risk-investing/): [fusion_builder_container hundred_percent=\”no\” equal_height_columns=\”no\” hide_on_mobile=\”small-visibility,medium-visibility,large-visibility\” background_position=\”center center\” background_repeat=\”no-repeat\” fade=\”no\” background_parallax=\”none\” parallax_speed=\”0.3\” video_aspect_ratio=\”16:9\” video_loop=\”yes\” video_mute=\”yes\” overlay_opacity=\”0.5\” border_style=\”solid\”][fusion_builder_row][fusion_builder_column type=\”1_1\” layout=\”1_1\” background_position=\”left top\” background_color=\”\” border_size=\”\” border_color=\”\” border_style=\”solid\” border_position=\”all\” spacing=\”yes\” background_image=\”\” background_repeat=\”no-repeat\” padding=\”\” margin_top=\”0px\” margin_bottom=\”0px\” class=\”\” id=\”\” animation_type=\”\” animation_speed=\”0.3\” animation_direction=\”left\” hide_on_mobile=\”small-visibility,medium-visibility,large-visibility\” center_content=\”no\” last=\”no\” min_height=\”\” hover_type=\”none\” link=\”\”][fusion_text] Two sides of the same coin Whenever the subject of investing or investments is brought up, the immediate thought that would come to mind for most people is risk. This is quite appropriate and understandable as investing and risk are two sides of the same coin. However, the problem is that most of us fail to truly understand what the […]
- [One Year On …](https://lunarcapital.co.za/one-year-on/): Market Context We launched the Lunar FR Worldwide Flexible Fund (LBWFA) on 1 June 2016. In our first year to 31 May 2017, several significant events have been playing out locally and globally, which impacted the investment markets: Political events in South Africa have not only impacted investment sentiment negatively, but also led to a ratings downgrade, historically high unemployment levels, very little trust between government and business and a decline in investments; A weakening South African macro-economic environment; Allegations and counter-allegations of corruption within state-owned enterprises and government departments; A significant reduction in the ANC’s majority and a loss of […]
- [#MyFamilyBalanceSheet](https://lunarcapital.co.za/myfamilybalancesheet/): [fusion_builder_container hundred_percent=\”no\” equal_height_columns=\”no\” hide_on_mobile=\”small-visibility,medium-visibility,large-visibility\” background_position=\”center center\” background_repeat=\”no-repeat\” fade=\”no\” background_parallax=\”none\” parallax_speed=\”0.3\” video_aspect_ratio=\”16:9\” video_loop=\”yes\” video_mute=\”yes\” overlay_opacity=\”0.5\” border_style=\”solid\”][fusion_builder_row][fusion_builder_column type=\”1_1\” layout=\”1_1\” background_position=\”left top\” background_color=\”\” border_size=\”\” border_color=\”\” border_style=\”solid\” border_position=\”all\” spacing=\”yes\” background_image=\”\” background_repeat=\”no-repeat\” padding=\”\” margin_top=\”0px\” margin_bottom=\”0px\” class=\”\” id=\”\” animation_type=\”\” animation_speed=\”0.3\” animation_direction=\”left\” hide_on_mobile=\”small-visibility,medium-visibility,large-visibility\” center_content=\”no\” last=\”no\” min_height=\”\” hover_type=\”none\” link=\”\”][fusion_text]Start your journey of wealth building by listing your assets and your liabilities to create #MyFamilyBalanceSheet. Here is a simple tool that you can use together with a copy of a presentation we have been giving to our clients and members of our community. Click here for spreadsheet [/fusion_text][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]
- [The Robots are Coming!](https://lunarcapital.co.za/the-robots-are-coming/): [fusion_builder_container hundred_percent=\”no\” equal_height_columns=\”no\” hide_on_mobile=\”small-visibility,medium-visibility,large-visibility\” background_position=\”center center\” background_repeat=\”no-repeat\” fade=\”no\” background_parallax=\”none\” parallax_speed=\”0.3\” video_aspect_ratio=\”16:9\” video_loop=\”yes\” video_mute=\”yes\” overlay_opacity=\”0.5\” border_style=\”solid\”][fusion_builder_row][fusion_builder_column type=\”1_1\” layout=\”1_1\” background_position=\”left top\” background_color=\”\” border_size=\”\” border_color=\”\” border_style=\”solid\” border_position=\”all\” spacing=\”yes\” background_image=\”\” background_repeat=\”no-repeat\” padding=\”\” margin_top=\”0px\” margin_bottom=\”0px\” class=\”\” id=\”\” animation_type=\”\” animation_speed=\”0.3\” animation_direction=\”left\” hide_on_mobile=\”small-visibility,medium-visibility,large-visibility\” center_content=\”no\” last=\”no\” min_height=\”\” hover_type=\”none\” link=\”\”][fusion_text] Artificial Intelligence One of the most rapidly advancing technologies today, and perhaps scariest, is in the field of artificial intelligence (AI). I’ll attempt a layperson’s explanation of AI: AI is the ability of a machine or computer to have human-like thinking (or cognitive) capabilities. The computer is programmed in a way that allows it to: apply certain rules on inputs […]
- [Risk](https://lunarcapital.co.za/risk/): “Rule No. 1: Never lose money. Rule No. 2: Never forget rule No.1”  Warren Buffett What does Buffett mean when he says that the first rule of investing is never to lose money, and the second rule is to never forget the first rule? Has Buffett never lost money? To answer the second question first: over his investing career and his portfolio as a total, Buffett has not lost money. In fact as we all know, he has had spectacular gains. However, there have been periods when he has lost money and he has also invested in some companies that had […]
- [Ring the Bell](https://lunarcapital.co.za/ring-the-bell/): Ring the Bell  Please let me know when market guru of the Johannesburg and/or the Nasdaq Stock Exchange rings the bell to tell us that we are at the top of the market cycle. Similarly, let me know when our market guru declares that we have reached the bottom of the next bear cycle. You know that I am been facetious about the market guru. Nobody rings the bell or for that matter can reliably predict the top or the bottom of a bull (rising market) or bear (falling market) cycle. There are far too many factors that influence the markets. […]
- [Read to Learn](https://lunarcapital.co.za/read-to-learn/): Read to Learn “If I have seen further, it is by standing on the shoulders of giants” This quotation is attributed to Sir Isaac Newton. Newton was making the point that had he not learnt from other great scientists, he would not have been able achieve what he did. In the investment world, there are a number of great investors who are eager to share their investment philosophies and strategies. This is a great source of learning. The internet also has an abundance of people (and maybe some bots) sharing their ideas and views. However, I have found that books written […]
- [Forecasting](https://lunarcapital.co.za/forecasting/): Time to forecast? It’s that time of the year when many pundits provide an opinion on what they forecast for the year ahead. Some even go so far as to predict what the exchange rates or market indices will be as at the end of the year.  A good way to check out how good these forecasters are is to look at their previous forecasts and check how well their predictions panned out. Inevitably, these forecasts are more wrong than right. If 2016 has thought us anything, then it is that we are poor at forecasting and predicting outcomes. There are […]
- [Six Months](https://lunarcapital.co.za/six-months/): Our first six months review Market Context The Lunar FR Worldwide Flexible Fund (LBWFA) was launched on 1 June 2016. In our first six months to 30 November 2016, several significant events have been playing out locally and globally, which impact the investment markets: The ongoing political wars within the ruling African National Congress in South Africa; A slowing macro-economic environment in SA; SA dodging an investment ratings downgrade bullet; Allegations and counter-allegations of corruption within state-owned enterprises and government departments; A significant reduction in the ANC’s majority and a loss of major metropolitans to opposition parties in the recent local […]
- [Making Sense](https://lunarcapital.co.za/making-sense/): Seminal changes When the British voted marginally in favour of leaving the European Union (Brexit as it was popularly known as); many, including me and even Brexit supporters were surprised. Even more surprising was Donald Trump’s stunning victory in the US presidential elections. We were all led to believe by the mainstream media, as well as most pollsters, that Hillary Clinton would win the election. In the recent local government elections in South Africa, we witnessed similar changes in voting behavior. Most of the major metropolitans are now run by parties in opposition to the ANC. If you include in the […]
- [Blind Spots](https://lunarcapital.co.za/blind-spots/): Changing lanes When experienced drivers change lanes, they know well to look out for vehicles or other objects that are in their blind spot. Objects that are in a blind spot, cannot be seen in either a vehicle’s rear- or side-view mirrors. So the driver has to know to glance over her shoulder so that she can be sure that it is safe to change lanes or overtake. Very experienced drivers also try not to be in someone else’s blind spot. Whenever possible, they try to be as visible to other drivers as possible. In this way, they avoid being inadvertently […]
- [First of the First Quarters](https://lunarcapital.co.za/first-first-quarters/): Our first quarterly review Market Context The Lunar FR Worldwide Flexible Fund (LBWFA) was launched on 1 June 2016. In our first quarter to 31 August 2016, several significant events have been playing out locally and globally, which impact the investment markets: The ongoing, so-called SARS war between the South African Finance Minister and his adversaries; A potential for a ratings downgrade (to non-investment grade or junk status) for South Africa; Allegations and counter-allegations of corruption within state-owned enterprises and government departments; A significant reduction in the ANC’s majority and a loss of major metropolitans to opposition parties in the recent […]
- [Some Things Are Best Done Slowly](https://lunarcapital.co.za/things-best-done-slowly/): Kilimanjaro Last month, my wife and I, together with eight great friends had the very challenging opportunity to hike up to the highest point in Africa, Uhuru Peak on Mount Kilimanjaro in Tanzania. Uhuru peak is at 5895 metres above sea level and is also the highest free standing mountain in the world.  We had chosen to go up via the Lemosho route over 7 days. In this blog, I would like to draw on some of the lessons we learnt doing the hike and how this may be used in thinking about investing. Lesson 1: You have the capacity and […]
- [Blexim – Starting a fund now!](https://lunarcapital.co.za/blexim-starting-fund-now/): Curse or Blessing in disguise? Lunar Capital, the company I co-founded last year and Boutique Collective Investment Schemes have partnered and launched an investment fund (Lunar FR Worldwide Flexible Fund) on 1 June 2016. If someone had told us that Brexit was going to happen later in the month, I’m pretty sure we would have either delayed the launch or possibly had another strategy for the fund. However, we know that no-one knows for sure what will happen in the future. So the paradox that we as investment managers face is that we sell the future, yet we are unable to […]
- [Investment Selection Methodology](https://lunarcapital.co.za/investment-selection-methodology/): Over many years of investing, one develops an investment philosophy and approach that you start feeling comfortable with. You know that it is not risk free, but you are confident that it gives you a framework for making your investment decisions. It’s also not cast in stone, so you are continuously making adjustments to it as you gain experience in the markets and you hone your investing skills. In this blog, I will outline the methodology that we use in investing. I must stress that investment styles differ significantly and one can find many counter arguments for any given strategy or […]
- [Launch Date: Lunar BCI Worldwide Flexible Fund](https://lunarcapital.co.za/launch-date-lunar-bci-worldwide-flexible-fund/): Date: 27 May 2016 Lunar Capital (Pty) Limited is pleased to announce that the launch date of the Lunar FR Worldwide Flexible Fund (LBWFA) is 1 June 2016. The fund will be managed by Lunar Capital (Pty) Limited a registered financial services provider in South Africa. The Lunar FR Worldwide Flexible fund will primarily be an equity fund invested in South Africa and offshore. The fund will be biased to the innovative and growth companies in the technology (IT, biotech, energy, media, etc.), healthcare, financial services and consumer sectors. The Fund will focus on investments that provide long-term growth potential subject […]
- [Thoughts on investment strategy in the current market](https://lunarcapital.co.za/thoughts-investment-strategy-current-market/): In this blog, I want share with you some of my thinking on how I would position an investment portfolio in the current market. Central banks The current market in South Africa and globally is influenced by a number of factors. What stands out for me however is the role of central bankers in trying to stimulate growth through ultra-easy monetary policy, i.e. keeping interest rates artificially low, in fact even negative in real terms. These low rates ultimately influence asset prices by inflating their value. This can be observed in the high relative valuations (price earnings ratios) in the market. […]
- [Lunar Capital News Brief](https://lunarcapital.co.za/lunar-capital-news-brief/): Date: 30 April 2016 Lunar FR Worldwide Flexible Fund Lunar Capital (Pty) Limited was approved as a registered financial services provider by the Financial Services Board of South Africa in February 2016. Lunar Capital have partnered with Fundrock Collective Investments (RF) (Pty) Limited to establish the Lunar FR Worldwide Flexible Fund (LBWFA). The fund was approved by the Registrar of Collective Investment Schemes in April 2016 and the fund will be launched in May 2016. Lunar Capital has been appointed as the investment manager of the fund. The Lunar FR Worldwide Flexible fund will primarily be an equity fund invested in […]
- [Investing in Turbulent Times](https://lunarcapital.co.za/investing-turbulent-times/): We are currently bombarded with negative news, globally as well as in South Africa. There’s a lot of noise about the poor global economy been weak, poor demand from China with significant ramifications for resource based economies, economic and political woes in South Africa, etc. It is natural then that investors or potential investors find themselves in with difficult decisions to make and will often react in panic mode or simply look on in awe. However, it is often during these times that the best investment opportunities come about, precisely because investors are behaving irrationally. All assets are been painted by […]
- [Growth at a Fair Price](https://lunarcapital.co.za/growth-fair-price/): In this blog, I want to share the investment philosophy and approach that I use for my own investments. I have termed it Growth at a Fair Price. In my previous blog, Developing your Investment Philosophy, I discussed how you should develop your investment philosophy and approach that is suitable for you; given your circumstances, your knowledge, the amount of risk you want to take and the level confidence that you have in your investing skills. I also started the blog by stating that “Investing is not easy” and that may well be because I am a bit slow. Even after […]
- [Developing Your Investment Philosophy](https://lunarcapital.co.za/developing-your-investment-philosophy/): Investing is not easy. Even after many years of studying and experience in investing, many investment managers can still find themselves flummoxed by the markets. Yet, everyone should have a strategy for investing for their futures, so that they can increase their personal value (#MyPersonalValue) and get the benefit of time in (not timing) the market (see Why You Need To Start Investing Now). In this blog, I will discuss a way that can assist you in developing your investment philosophy and approach. It’s worth remembering that developing your investment philosophy and approach is not a once off event but rather […]
- [Why you need to start investing now.](https://lunarcapital.co.za/why-you-need-to-start-investing-now/): This is the transcript of a talk that I am giving to the staff of various organisations and groups of individuals and the topic is “Why you need to start investing now”.  I am incredibly grateful that I have had an interest in investing from a very early part of my adulthood, both in seeking knowledge so that I could do well in my career as well as in investing in the financial markets to build wealth. So, I hope that today’s talk inspires you to also start investing or if you’re already doing so, to be encouraged to continue to […]
- [Increase your Personal Value](https://lunarcapital.co.za/first-post/): In this first blog for Lunar Capital, I wanted to start with a discussion on how you can more consciously measure your value and build it over time. Over the last 15-odd years, I have regularly (at least annually, and recently semi-annually) updated what I term as My Personal Value (MPV) measure. This has helped me achieve my aspirations and secure my financial future. My Personal Value is in fact a personal balance sheet. It measures your net worth at a point in time. It is simple and easy to complete and update. By regularly completing My Personal Value, it allowed […]
- [Zara Fit Check](https://lunarcapital.co.za/zara-fit-check/): What is Inditex doing to position itself for the future    
- [Check(ers) Mate](https://lunarcapital.co.za/checkers-mate/): Find out how Shoprite has managed to always stay one step ahead of the competition  
- [Nvidia: Priced to Perfection](https://lunarcapital.co.za/nvidia-priced-to-perfection/): What are the underlying mechanics of Nvidia's meteoric rise?
- [Snowflake Melting?](https://lunarcapital.co.za/snowflake-melting/): What is one of the big risks small companies face when trying to scale?
- [Moving ON](https://lunarcapital.co.za/moving-on/):  Traversing the athleisure landscape, how is ON Holdings doing it?
- [Weighing In](https://lunarcapital.co.za/weighing-in/): How dominant is Novo Nordisk and Eli Lilly's position in the pharmaceutical industry?
- [Big Tech, Big Spend, Big Question](https://lunarcapital.co.za/big-tech-big-spend-big-question/): What are the concerns about Big Tech spending so much?
- [Spotlight on Spotify](https://lunarcapital.co.za/spotlight-on-spotify/): A good product doesn't always mean a good business. Read to find out why.
- [With a Side of Chips, Please](https://lunarcapital.co.za/with-a-side-of-chips-please/): What was the story behind ASML and TSMC's recent results.
- [JP Mor-Gains](https://lunarcapital.co.za/jp-mor-gains/): How is JP Morgan navigating an increasingly complex environment.
- [AI: The Energy Saga](https://lunarcapital.co.za/ai-the-energy-saga/): How are businesses dealing with AI's increasing energy demand?
- [Quarterly Investment & Performance Review – 30 June 2024](https://lunarcapital.co.za/quarterly-investment-performance-review-30-june-2024/): The Lunar FR Worldwide Flexible Fund achieved a Top 10% ranking of all Funds available in South Africa since its inception 8 years ago. Source: Moneymate.
- [Nike Just Not Doing It](https://lunarcapital.co.za/nike-just-not-doing-it/): Find out how Nike have not been able to take advantage of the worlds latest trend.
- [Adobe or Not Adobe](https://lunarcapital.co.za/adobe-or-not-adobe/): How is Adobe navigating the new world?
- [A Day out Shopping](https://lunarcapital.co.za/a-day-out-shopping/): Lululemon and Inditex, what are the similarities and differences?
- [Costco – One up on Inflation](https://lunarcapital.co.za/costco-one-up-on-inflation/): What is Costco doing to help customers beat inflation?
- [Nvidia – Silicon Supreme](https://lunarcapital.co.za/nvidia-silicon-supreme/): How has Nvidia become one of the leading AI chip suppliers in the world.
- [Walmart – The Best Offense starts in Defense](https://lunarcapital.co.za/walmart-the-best-offense-starts-in-defense/): What advantages does Walmart have in a inflationary and competitive environment
- [Disney – Where’s the Magic?](https://lunarcapital.co.za/disney-wheres-the-magic/): How did Disney lose its sparkle, and what are they doing to get it back.
- [Amazon – Not your everyday Bookseller](https://lunarcapital.co.za/amazon-not-your-everyday-bookseller/): What characteristics have made Amazon the everything store
- [Microsoft: On Cloud Nine](https://lunarcapital.co.za/microsoft-on-cloud-nine/): ind out how AI has been benefitting Microsoft
- [Gearing Up – A Semiconductor Story](https://lunarcapital.co.za/gearing-up-a-semiconductor-story/): How are semiconductor manufacturers positioning themselves to take advantage of cyclical trends.
- [JP Morgan and the Fortress Balance Sheet](https://lunarcapital.co.za/jp-morgan-and-the-fortress-balance-sheet/): What stressors does JP Morgan see in the economy and how are they positioned.
- [Balancing the Scale](https://lunarcapital.co.za/balancing-the-scale/): What are some of the challenges and opportunities companies face when they are already large
- [Lunar Capital Quarterly Investment & Performance Review – 31 March 2024](https://lunarcapital.co.za/lunar-capital-quarterly-investment-performance-review-31-march-2024/): Sabir provides an update of the Funds' Performance and Strategy of Lunar Capital as of end March 2024.
- [Making Lululemon-ade](https://lunarcapital.co.za/making-lululemon-ade/): Growth in uncertain times, how is Lululemon investing for the future?
- [Wal-smart](https://lunarcapital.co.za/wal-smart/): Find out how Walmart has been able to consistently keep their prices low in order to gain market share.
- [Shoprite-aholics](https://lunarcapital.co.za/shoprite-aholics/): Gaining market share in a sluggish economy. How does Shoprite do it?
- [Snowflake – Trying to be a Snowball](https://lunarcapital.co.za/snowflake-trying-to-be-a-snowball/): Find out what challenges and opportunities face Snowflake as they try adapt to a more generative AI focussed world.
- [Nvidia – Fear of Missing Out](https://lunarcapital.co.za/nvidia-fear-of-missing-out/): What questions are we asking about AI and Nvidia
- [ON Top of It](https://lunarcapital.co.za/on-top-of-it/): Rodger Federer, growing revenues, and expanding margins. Let’s dive into sports apparel brand ON’s recent success.
- [Novo – Lilly: Building Capacity](https://lunarcapital.co.za/novo-lilly-building-capacity/): Find out how Eli Lilly and Novo Nordisk have been dealing with the demand for their obesity drugs.
- [Mega Caps’ Big Week](https://lunarcapital.co.za/mega-caps-big-week/): Catch up on the results of 5 Mega Cap US stocks
- [ASML: Cycle Up](https://lunarcapital.co.za/asml-cycle-up/): Find out what opportunities ASML sees for the semiconductor industry.
- [2023 Review](https://lunarcapital.co.za/2023-review/): Find out what growth drivers Lululemon is adopting to expand its presence around the world.
- [Lunar Capital Quarterly Investment & Performance Review – 31 December 2023](https://lunarcapital.co.za/lunar-capital-quarterly-investment-performance-review-31-december-2023/): Sabir provides an update of the Funds' Performance and Strategy of Lunar Capital as of end September 2023.
- [Lululemon: Three x 2](https://lunarcapital.co.za/lululemon-three-x-2/): Find out what growth drivers Lululemon is adopting to expand its presence around the world.
- [Snowflake – A Benefactor of Artificial Intelligence](https://lunarcapital.co.za/snowflake-a-benefactor-of-artificial-intelligence/): Find out how Snowflake is using artificial intelligence to enhance their product offering.
- [Nvidia – Bringing on the Competition](https://lunarcapital.co.za/nvidia-bringing-on-the-competition/): Faster semiconductors and the battle for AI Dominance. Which companies are trying to close the gap on chipmaker: Nvidia?
- [Walmart – History of Opportunity](https://lunarcapital.co.za/walmart-history-of-opportunity/): From rural towns to global domination, let’s look at how Walmart became one of the world’s biggest retailers.
- [Adyen – All in One](https://lunarcapital.co.za/adyen-all-in-one/): Clarity of thought. Let’s take a look at how Adyen plan to grow their presence in the fin-tech space.
- [MercadoLibre – Amazon South](https://lunarcapital.co.za/mercadolibre-amazon-south/): Take a look at some of the challenges and opportunities businesses face when operating in developing economies.
- [Roche – Recovering Post Covid](https://lunarcapital.co.za/roche-recovering-post-covid/): Treatment and Diagnostic Pipelines, Shifting Demand, and AI; let’s dig into the Roche’s post-Covid recovery.
- [ASML – Riding the Cycle](https://lunarcapital.co.za/asml-riding-the-cycle/): Find out about the challenges and opportunities faced in the broader semiconductor industry.
- [Birken’s Stock](https://lunarcapital.co.za/birkens-stock/): An Iconic brand, and going from the private to public market. Read up on Birkenstock’s IPO.
- [Quarterly Investment and Performance Review September 2023](https://lunarcapital.co.za/lunar-capital-quarterly-investment-performance-review-september-2023/): Sabir provides an update of the Funds' Performance and Strategy of Lunar Capital as of end September 2023.
- [Ozempic: Unintended Consequences](https://lunarcapital.co.za/ozempic-unintended-consequences/): Dig deep into some of the unintended consequences that can arise from new innovations.
- [The Hard Truth about Pivoting (Part 2): Electric Vehicles](https://lunarcapital.co.za/the-hard-truth-about-pivoting-part-2-electric-vehicles/): Learn about the long term challenges and opportunities facing the motor vehicle industry.
- [The Hard Truth about Pivoting](https://lunarcapital.co.za/the-hard-truth-about-pivoting/): Find out about the difficulties incumbent businesses face when trying to embrace new trends.
- [Inditex: Changing Zara’s Fashion](https://lunarcapital.co.za/inditex-changing-zaras-fashion/): Find out about how Zara uses innovation to create an engaging on-demand experience for consumers.
- [Shoprite: Fuel for Thought](https://lunarcapital.co.za/shoprite-fuel-for-thought-weekly-stocktake-with-danyaal/): Good results, tough environment. Let’s dig deep into Shoprite recent results.
- [Lululemon: Stretching Legs Internationally](https://lunarcapital.co.za/lululemon-stretching-legs-internationally/): International sales and quality products. Learn about how Lululemon are expanding their business.
- [Nvidia: Where to from Here?](https://lunarcapital.co.za/nvidia-where-to-from-here/): After having a standout quarter, what is the long-term path for Nvidia, a Lunar Capital owned business?
- [Adyen: Growth at All Cost?](https://lunarcapital.co.za/adyen-growth-at-all-costs-weekly-stocktake-with-danyaal/): Find out about Adyen, the Dutch Fin-Tech company, and how the market has reacted to their wobbly expansion.
- [Novo Nordisk: The Hype Around Semaglutide](https://lunarcapital.co.za/novo-nordisk-the-hype-around-semaglutide-weekly-stocktake-with-danyaal/): Revolutionizing diabetes and obesity care: meet one of the companies at the forefront.
- [Amazon: Manic Obsession over the Customer](https://lunarcapital.co.za/amazon-manic-obsession-over-the-customer-weekly-stocktake-with-danyaal/): Discover one of the core principles behind Amazon’s success – and how they’ve used it to create value over the long term.
- [Enphase: New Power on the Block](https://lunarcapital.co.za/enphase-new-power-on-the-block-weekly-stocktake-with-danyaal/): Find out about the factors driving Enphase’s recent results. Enphase Energy, a business held in the Lunar FR Worldwide Flexible Fund...
- [Tesla: No Margin for Error](https://lunarcapital.co.za/tesla-no-margin-for-error-weekly-stocktake-with-danyaal/): Cult-like personalities and Innovative products, learn more about Tesla and their underlying business.
- [US vs China: Battle on the Semiconductor Front](https://lunarcapital.co.za/us-vs-china-battle-on-the-semiconductor-front/): Find out how the US is attempting to prevent China from developing its Advanced Computing and Military Capabilities using trade restrictions.
- [Quarterly Investment & Performance Review – June 2023](https://lunarcapital.co.za/quarterly-investment-performance-review-june-2023/): Sabir provides an update of Lunar Capital’s Funds' Performance and Strategy as of end June 2023.
- [Let it Snow, Let it Snow, Let it Snow](https://lunarcapital.co.za/let-it-snow-let-it-snow-let-it-snow/): Find out how Snowflake (owned by Lunar Capital) is planning on incorporating AI into their data warehouse business.
- [Millennials Stamp their Economic Authority](https://lunarcapital.co.za/millennials-stamp-their-economic-authority/): Dive into how we, at Lunar Capital, use investment themes to find businesses that we think will do well over the long term.
- [Zara: In the Fast Lane of Fashion](https://lunarcapital.co.za/zara-in-the-fast-lane-of-fashion/): Discover Zara's unique business model, what sets it apart from other fast fashion companies, and how it stays on-trend
- [South Africa's National Health Insurance (NHI) Bill](https://lunarcapital.co.za/south-africas-national-health-insurance-nhi-bill/): Find out how medical aid schemes and South Africans could be affected by the NHI bill.
- [The Business of Football: The Economics Behind the Game](https://lunarcapital.co.za/the-business-of-football-the-economics-behind-the-game/): From groceries to semiconductors to football, numerous businesses cater to the supply of goods and services for people. While some businesses offer essential products, others provide entertainment.
- [From Downward Dog to Upward Profits, Lululemon's revenue surges!](https://lunarcapital.co.za/from-downward-dog-to-upward-profits-lululemons-revenue-surges-weekly-stocktake-with-danyaal/): Yoga-pants, Women’s running shoes, and increasing margins. Find out about Lululemon’s recent results.
- [Artificial Intelligence: Beyond the Hype or Just Another Illusion?](https://lunarcapital.co.za/artificial-intelligence-beyond-the-hype-or-just-another-illusion-weekly-stocktake-with-danyaal/): From store shelves to digital carts, learn more about Walmart's omnichannel success amongst some of its leading competitors.
- [Walmart: Competing on all Shop Fronts](https://lunarcapital.co.za/weekly-stocktake-with-danyaal-walmart-competing-on-all-shop-fronts/): From store shelves to digital carts, learn more about Walmart's omnichannel success amongst some of its leading competitors.
- [Hungry Munger and a Buffett of Wisdom](https://lunarcapital.co.za/hungry-munger-and-a-buffett-of-wisdom-weekly-stocktake-with-danyaal/): Read some of our favourite quotes on long-term investing by Warren Buffett and Charlie Munger, which have served as inspiration for our investment motto, 'growth at a reasonable price'
- [Long Life Novo Nordisk](https://lunarcapital.co.za/long-life-novo-nordisk-weekly-stocktake-with-danyaal/): Discover how some of Lunar Capital's investments in innovative medical-treatment businesses are supporting the rise in life-expectancy in developed nations.
- [Scaling Up: Microsoft's Growing Revenue and Expanding Margins](https://lunarcapital.co.za/scaling-up-microsofts-growing-revenue-and-expanding-margins-weekly-stocktake-with-danyaal/): Microsoft, a Lunar Capital holding, provides a compelling example of a business that has achieved growth while expanding its margins. The company's strategy of bundling products together has enabled it to gain a strong foothold in the computing space, ultimately leading to increased dominance in the market.
- [ASML – Light Me Up](https://lunarcapital.co.za/asml-light-that-changed-the-world-weekly-stocktake-with-danyaal/): Each platform company has a unique way of enabling interactions; whether it is through creating an app-store ecosystem, or facilitating a large scale e-commerce market-place.
- [Lunar Capital’s Q1 2023 Performance and Outlook Report](https://lunarcapital.co.za/lunar-capitals-q1-2023-performance-and-outlook-report/): Sabir Munshi discusses Lunar Capital's Q1 2023 performance and their outlook on future mega-trends. He also explains how the funds are positioned for these trends. Full Video: https://youtu.be/Rj1uIx-aJ-w 
- [Next Level Platform Companies - Weekly Stocktake with Danyaal](https://lunarcapital.co.za/next-level-platform-companies-weekly-stocktake-with-danyaal/): Each platform company has a unique way of enabling interactions; whether it is through creating an app-store ecosystem, or facilitating a large scale e-commerce market-place.
- [SA’s Heavy-Weight Champion - Weekly Stocktake with Danyaal](https://lunarcapital.co.za/sas-heavy-weight-champion/): It's not uncommon for investment companies to trade at discounts to their NAV, and this can happen for several reasons. Let’s take a look at Remgro and see why.
- [“Just Do It” Or “Be All In” - Weekly Stocktake with Danyaal](https://lunarcapital.co.za/just-do-it-or-be-all-in-weekly-stocktake-with-danyaal/): Nike and Lululemon are in different stages of their respective lifecycle, particularly with regard to their product journey... Here's what the results tell us. 
- [How Quick Can a Bank Run - Weekly Stocktake with Danyaal](https://lunarcapital.co.za/how-quick-can-a-bank-run-stocktake-with-danyaal-2/): If depositors rush to withdraw their funds from a bank, it can lead to the bank being forced to liquidate its assets.
- [Rev Your Engines - Weekly Stocktake with Danyaal](https://lunarcapital.co.za/rev-your-engines-weekly-stocktake-with-danyaal/): Vehicle manufacturers face the challenge of dividing their capital expenditure between two key areas - the Internal Combustion Engine vehicles (ICE) and Electric Vehicles (EV). Vehicle manufacturers need to find the balance between retaining their existing customer base and investing for the future.
- [ShopFight - Weekly Stocktake with Danyaal](https://lunarcapital.co.za/shopfight-weekly-stocktake-with-danyaal/): Shoprite's philosophy is to aggressively pursue market share, which means they end up competing with multiple businesses that target different groups. In the current financial year, Shoprite plans to spend R6.3 billion on capital expenditure.
- [Can We Bank On It? - Weekly Stocktake with Danyaal](https://lunarcapital.co.za/can-we-bank-on-it-weekly-stocktake-with-danyaal/): Despite the weak macro environment in South Africa, certain companies like FirstRand are currently demonstrating strong performance. They offer essential services to people while also creating value for their shareholders.
- [What Flavour Chips Do You Sell? - Weekly Stocktake with Danyaal](https://lunarcapital.co.za/what-flavour-chips-do-you-sell-weekly-stocktake-with-danyall/): Nvidia have adapted their semiconductors to suit different uses over time. “When there’s a gold rush, it’s good to be in the business of spades.”
- [Gucci’s Gang - Weekly Stocktake with Danyaal](https://lunarcapital.co.za/guccis-gang-weekly-stocktake-with-danyaal/): Luxury brands face a delicate balance between increasing revenue, which can be achieved by boosting their product offerings, versus preserving the exclusivity of their brand.
- [Rebuilding the House of Mouse? - Weekly Stocktake with Danyaal](https://lunarcapital.co.za/rebuilding-the-house-of-mouse-weekly-stocktake-with-danyaal/): Disney has been expanding its IP catalogue through strategic acquisitions over the years. Acquisitions at the right price, that deliver appropriate returns is good for both clients and shareholders. The opposite however can be very painful.
- [Amazon: The Behemoth - Weekly Stocktake with Danyaal](https://lunarcapital.co.za/amazon-the-behemoth-weekly-stocktake-with-danyaal-2023-02-03/): Last week Thursday, Amazon released their full year results, with revenue growing by 12.8% to a staggering $501.7 billion. However, their net income took a hit and decreased from a $33.4 billion profit in 2021 to a net loss of $2.7 billion in 2022.
- [Open AI - Weekly Stocktake with Danyaal](https://lunarcapital.co.za/open-ai-weekly-stocktake-with-danyaal-2023-01-27/): We used Open AI to help us write this weeks stocktake about Microsoft.
- [The success of Netflix over time - Weekly Stocktake with Dan](https://lunarcapital.co.za/weekly-roundup-2023-01-25-the-success-of-netflix-over-time/): Netflix have been a company that has been able to pivot their business model quite successfully over their lifetime. 
- [Weekly Roundup 2022-12-07](https://lunarcapital.co.za/weekly-roundup-2022-12-07/): This will be our last weekly roundup until January. Whilst the holiday mood is settling in, we at Lunar Capital will still keep our eyes and ears on the market.
- [Weekly Roundup 2022-12-02 - PHALA PHALA](https://lunarcapital.co.za/weekly-roundup-2022-12-02-phala-phala/): Just as we were all about to get into the December spirit, an independent parliamentary panel released a report concluding that President Cyril Ramaphosa may have violated the constitution in his capacity as President.
- [Weekly Roundup 2022-11-25 - Prosus and Naspers](https://lunarcapital.co.za/weekly-roundup-2022-11-25-prosus-and-naspers/): Prosus and Naspers are related companies, through crossholdings with each other.
- [Weekly Roundup 2022-11-18 - Walmart and Amazon](https://lunarcapital.co.za/weekly-roundup-2022-11-18/): Last week, Walmart released their Q3 2022 results. Total revenue increased by 8.7% quarter on quarter to $152,8 billion.
- [Weekly Roundup 2022-11-11](https://lunarcapital.co.za/weekly-roundup-2022-11-11/): The global markets have come down quite significantly since the beginning of the year. The US Federal reserve has been raising interest rates at a record rate to attempt to tame rapidly rising inflation. 
- [Weekly Roundup 2022-11-04 - Novo Nordisk](https://lunarcapital.co.za/weekly-roundup-2022-11-04-novo-nordisk/): Novo Nordisk released their Q3 2022 results last week. Novo Nordisk is a health-care company that primarily focuses on producing treatments for diabetes, obesity and rare blood diseases.
- [Weekly Roundup 2022-10-28](https://lunarcapital.co.za/weekly-roundup-2022-10-28/): Last week, Alphabet, Microsoft, and Amazon released their results for the quarter ended 30 Sep 2022. These companies have a huge focus on cloud computing, and see it as a major driver of growth for their companies.
- [Weekly Roundup 2022-10-21](https://lunarcapital.co.za/weekly-roundup-2022-10-21/): Last week, ASML released their Q3 2022 results. ASML is an innovation leader in the semiconductor industry. They provide chipmakers with hardware, software, and services to mass produce patterns on silicon through lithography.
- [Weekly Roundup 2022-10-14](https://lunarcapital.co.za/weekly-roundup-2022-10-14/): There has been a lot of talk in the news about how poorly the South African Rand (ZAR) has done this year. We think that is a misconception since it doesn’t necessarily tell the full story if we only compare how the Rand has performed against the US Dollar (USD).
- [Weekly Roundup 2022-10-07](https://lunarcapital.co.za/weekly-roundup-2022-10-07/): Last week, AMD (Applied Micro Devices), a semiconductor (computer chip) manufacturer, released a preview of their Q3 report.
- [Weekly Roundup 2022-09-30](https://lunarcapital.co.za/weekly-roundup-2022-09-30/): A few weeks ago, we looked at FirstRand and compared their results to some of the other banks that it primarily competes with in South Africa. This week, we shall take a look at Capitec.
- [Weekly Roundup 2022-09-23](https://lunarcapital.co.za/weekly-roundup-2022-09-23/): Last week, we saw the central banks of the United States of America, United Kingdom and South Africa increase their respective interest rates.
- [Weekly Roundup 2022-09-16](https://lunarcapital.co.za/weekly-roundup-2022-09-16/): Last Thursday, FirstRand released their 2022 year-end results. The group CEO, Allan Pullinger, commented that earnings for the group have recovered and are above the 2019 peak levels.
- [Weekly Roundup 2022-09-09](https://lunarcapital.co.za/weekly-roundup-2022-09-09/): Last week, Shoprite Holdings (Shoprite) reported their full-year results for 2022. Revenue for the year was R184.1 billion, up 9.6% compared to the previous year.
- [Nike – Not on Pace](https://lunarcapital.co.za/nike-not-on-pace/): The athleisure market has changed; can Nike adapt?
- [Costco – Brand Loyalty and More](https://lunarcapital.co.za/costco-brand-loyalty-and-more/): How Costco’s membership model, low prices and expansion plans reinforce customer loyalty.
- [FirstRand – Banking on Quality](https://lunarcapital.co.za/firstrand-banking-on-quality/): The continued resilience of FirstRand's businesses.
- [Inditex – More than just Zara](https://lunarcapital.co.za/inditex-more-than-just-zara/): Inditex's smaller brands were firing on all cylinders this half.
- [Shoprite on Target](https://lunarcapital.co.za/shoprite-on-target/): Where can Shoprite find additional growth opportunities?
- [Nvidia – Supplying the AI Buildout](https://lunarcapital.co.za/nvidia-supply-the-ai-buildout/): How long will Nvidia remain the biggest beneficiary of the AI boom?
- [Nu Holdings – More Nu Customers](https://lunarcapital.co.za/nu-holdings-more-nu-customers/): How is Nu growing their client base?
- [Tencent Leveraging its Platform with AI](https://lunarcapital.co.za/tencent-leveraging-its-platform-with-ai/): Can Tencent further strengthen their strong competitive position with AI?
- [Booking.com Your Next Trip?](https://lunarcapital.co.za/booking-com-your-next-trip/): How is Booking.com evolving to meet customers' changing needs.
- [Amazon – Forest Still Growing](https://lunarcapital.co.za/amazon-forest-still-growing/): So much more than an online retailer. 
- [Interactive Brokers & Banker](https://lunarcapital.co.za/interactive-brokers-banker/): Investing for the future.
- [Netflix – Watching the Numbers](https://lunarcapital.co.za/netflix-watching-the-numbers/): Where can Netflix's next stage of growth come from?
- [More than Tencent?](https://lunarcapital.co.za/more-than-tencent/): Will Naspers be able to find another Tencent? 
- [Nike – Not Doing It](https://lunarcapital.co.za/nike-not-doing-it/): How has increased competition eroded Nike's competitive advantage.
- [DRAM-atic](https://lunarcapital.co.za/dram-atic/): What is DRAM, and what is its role in the AI buildout. 
- [Xbox-ed](https://lunarcapital.co.za/xbox-ed/): What does the SpaceX IPO say about the broader market
- [SpaceX-cluded](https://lunarcapital.co.za/spacex-cluded/): What does the SpaceX IPO say about the broader market
- [Crowding out the Competition](https://lunarcapital.co.za/crowding-out-the-competition/): Cybersecurity for the AI era
- [Brick and E-commerce](https://lunarcapital.co.za/brick-and-e-commerce/): How do you compare Walmart to Amazon
- [Nvidia – Taking on the “Wannabes”](https://lunarcapital.co.za/nvidia-taking-on-the-wannabes/): What does the chief beneficiary of AI's results tell us about the broader market. 
- [China’s AI Heavyweights](https://lunarcapital.co.za/chinas-ai-heavyweights/): What are Tencent and Alibaba's AI strategies?
- [A is for Apple](https://lunarcapital.co.za/a-is-for-apple/): Apple is a perfect example of a cash-cow business.
- [AI’s Early Returns](https://lunarcapital.co.za/ais-early-returns/): Early signs of returns emerging from the AI capex build-out.
- [Interactive Brokers – All about the Margin](https://lunarcapital.co.za/interactive-brokers-all-about-the-margin/): Interactive Brokers is a strong example of a company using technology to drive efficiency.
- [Netflix – Expanding Engagement](https://lunarcapital.co.za/netflix-expanding-engagement/): After Warner Brothers - where is Netflix focussing their attention?
- [Lunar Capital Quarterly Investment & Portfolio Review – 31 March 2026](https://lunarcapital.co.za/lunar-capital-quarterly-investment-portfolio-review-31-march-2026/): Sabir provides an update of the Funds' performance and how Lunar Capital is investing in the current environment.
- [Stadio – Filling the Gap](https://lunarcapital.co.za/stadio-filling-the-gap/): How Stadio is capitalising on the demand for higher-education in South Africa.
- [Inditex: On Brand](https://lunarcapital.co.za/inditex-on-brand/): How is Inditex showing its maturity?
- [Choose your Shop](https://lunarcapital.co.za/choose-your-shop/): How does Woolworth's turn-around plan compare to Shoprite's scaling strategy.
- [Flywheel Economics](https://lunarcapital.co.za/flywheel-economics/): What's the reason behind Mercado Libre's sensational winning streak. 
- [Steering a Big Shop](https://lunarcapital.co.za/steering-a-big-shop/): A low-cost retailer's expensive valuation.
- [Spotify – Scales Practice](https://lunarcapital.co.za/spotify-scales-practice/): Are there limits to Spotify's growth?
- [Amazon – AI and Beyond](https://lunarcapital.co.za/amazon-ai-and-beyond/): What else is driving Amazon?
- [Microsoft – On OpenAI Watch](https://lunarcapital.co.za/microsoft-on-openai-watch/): What do Microsoft's recent results suggest about the risks associated with OpenAI?
- [Lunar Capital Quarterly Investment & Portfolio Review – 31 December 2025](https://lunarcapital.co.za/lunar-capital-quarterly-investment-portfolio-review-31-december-2025/): Sabir provides an update of the Funds' performance and how Lunar Capital is investing in the current environment.
- [Precision is Expensive](https://lunarcapital.co.za/precision-is-expensive/): Why does Intuitive Surgical trade at an expensive valuation?
- [TSMC – Disciplined Growth](https://lunarcapital.co.za/tsmc-disciplined-growth/): How is TSMC making the AI growth story possible?
- [Game of Bids](https://lunarcapital.co.za/game-of-bids/): Will the acquisition of Warner Bros Discovery be different this time?
- [Alibaba – A Chinese Streamlined Model](https://lunarcapital.co.za/alibaba-a-chinese-streamlined-model/): How one of China's greatest business success stories is revitalising itself for growth.
- [Nvidia – Bubble or Brilliant?](https://lunarcapital.co.za/nvidia-bubble-or-brilliant/): Let's cut through the noise around Nvidia's recent results. 
- [Disney – Too Much of a Good Thing](https://lunarcapital.co.za/disney-too-much-of-a-good-thing/): Has Disney become a villain in their own story?
- [The Spotify Trade-Off](https://lunarcapital.co.za/the-spotify-trade-off/): Where can Spotify's growth come from?
- [No Cap to CapEx](https://lunarcapital.co.za/no-cap-to-capex/): What are the risks and opportunities for Big Tech in AI infrastructure development?
- [Hand of Da Vinci](https://lunarcapital.co.za/hand-of-da-vinci/): What is the business model of the company behind one of surgery’s most advanced tools?
- [AI Driven Demand](https://lunarcapital.co.za/ai-driven-demand/): How are two fairly-unknown companies making the AI revolution possible. 
- [Living the Long Life](https://lunarcapital.co.za/living-the-long-life/): What are some of the consequences of an aging population?
- [Brand Agnosticism in Athleisure](https://lunarcapital.co.za/brand-agnosticism-in-athleisure/): Why have clothing businesses found it so difficult to have a long reigns?
- [Lunar Capital Quarterly Investment & Portfolio Review – 30 September 2025](https://lunarcapital.co.za/lunar-capital-quarterly-investment-portfolio-review-30-september-2025/): Sabir provides an update of the Funds' performance and how Lunar Capital is investing in the current environment.
- [Millennials and Gen Z: Shaping the Future of Consumption and Investment](https://lunarcapital.co.za/millennials-and-gen-z-shaping-the-future-of-consumption-and-investment/): Which company could benefit from a changing workforce?
- [Love Football, Not the Business](https://lunarcapital.co.za/love-football-not-the-business/): Let's put the love of the game into perspective.
- [Inditex – Bigger is Better](https://lunarcapital.co.za/inditex-bigger-is-better/): How is Inditex building resilience in their business.  
- [Food Fight – Shoprite vs Woolworths](https://lunarcapital.co.za/food-fight-shoprite-vs-woolworths/): What are the factors behind the diverging fortunes of two major South African retailers.  
- [Nvidia: Competitors, Customers, and Countries](https://lunarcapital.co.za/nvidia-competitors-customers-and-countries/): What do Nvidia's recent results say about the broader industry.
- [Walmart – Not that Cheap](https://lunarcapital.co.za/walmart-not-that-cheap/): Is there a disconnect between Walmart's valuation and price?
- [Leveraging Latin America](https://lunarcapital.co.za/leveraging-latin-america/): How two Latin American companies are servicing the underserved market. 
- [Lilly’s Boom Meets Resistance](https://lunarcapital.co.za/lillys-boom-meets-resistance/): Eli Lilly’s earnings soared, but Lilly faces regulatory risks and competitive pressure.  
- [Microsoft – Double Dipping in AI](https://lunarcapital.co.za/microsoft-double-dipping-in-ai/): How is AI shaping Microsoft?
- [Alphabet: Is the Search Over?](https://lunarcapital.co.za/alphabet-is-the-search-over/): Can Alphabet compete in the world of generative AI?
- [Web of Silicon](https://lunarcapital.co.za/web-of-silicon/): How is an increasing demand for high performance computing affecting key players in the semiconductor industry?
- [Lunar Capital Quarterly Investment & Performance Review – 30 June 2025](https://lunarcapital.co.za/lunar-capital-quarterly-investment-performance-review-30-june-2025/): Sabir provides an update of the Funds' performance and how Lunar Capital is investing in the current environment.
- [Going Nuclear](https://lunarcapital.co.za/going-nuclear/): Rising demand for clean and stable energy—can nuclear deliver?  
- [Tesla – Better unMusked](https://lunarcapital.co.za/tesla-better-unmusked/): Is Tesla's next big bet worthy of its current valuation?
- [Nike – Lifestyle or Performance](https://lunarcapital.co.za/nike-lifestyle-or-performance/): Can Nike execute on its new strategy?
- [A Naspers Story](https://lunarcapital.co.za/a-naspers-story/): Selling its winner to fund new ventures. Can Naspers get it right?
- [Inditex – Cut above the Rest](https://lunarcapital.co.za/inditex-cut-above-the-rest/): How is Inditex positioning itself for uncertain times.
- [CrowdStrike – AI vs AI](https://lunarcapital.co.za/crowdstrike-ai-vs-ai/): What gives CrowdStrike an advantage in a more AI integrated world?
- [Nvidia – Powering Sovereign AI Ambitions](https://lunarcapital.co.za/nvidia-powering-sovereign-ai-ambitions/): How do Sovereign AI Ambitions fit into Nvidia's growth plan. 
- [Snowflake – a Stock for Staff](https://lunarcapital.co.za/snowflake-a-stock-for-staff/): How does Snowflake compete with Big Tech?
- [Walmart: Pricing for Perfection](https://lunarcapital.co.za/walmart-pricing-for-perfection/): Why is Walmart priced so high?
- [The Legacy of Disney](https://lunarcapital.co.za/the-legacy-of-disney/): How has Disney's library of IP fuelled different segments of its business.
- [Amazon – Navigating the Tariff Jungle](https://lunarcapital.co.za/amazon-navigating-the-tariff-jungle/): The broadest possible selection at the lowest possible price.
- [Alphabet – Search and Beyond](https://lunarcapital.co.za/alphabet-search-and-beyond/): Why would Alphabet look to cannibalise its own products.
- [Netflix: The Saga Continues](https://lunarcapital.co.za/netflix-the-saga-continues/): How have Netflix positioned themselves for growth.
- [Lunar Capital Quarterly Investment & Performance Review – 31 March 2025](https://lunarcapital.co.za/lunar-capital-quarterly-investment-performance-review-31-march-2025/): Sabir provides an update of the Funds' Performance and Strategy of Lunar Capital as of end March 2025.
- [JP Morgan – Banking on Volatility](https://lunarcapital.co.za/jp-morgan-banking-on-volatility/): How is the America's largest bank benefiting from market uncertainty.
- [Not Tariffic](https://lunarcapital.co.za/not-tariffic/): What is the US, under the Trump Presidency, trying to achieve?
- [De-Lululemon](https://lunarcapital.co.za/de-lululemon/): Can Lululemon weather this storm?
- [Tencent – Gaming and Beyond](https://lunarcapital.co.za/tencent-gaming-and-beyond/): How does China's biggest company plan to compete in the AI race?
- [Hala Zara](https://lunarcapital.co.za/hala-zara/): How does Zara cater to increasingly fickle customers?
- [ShopRite on Track](https://lunarcapital.co.za/shoprite-on-track/): What is Shoprite doing to gain marketshare?
- [Nvidia: Cost to Compute](https://lunarcapital.co.za/nvidia-cost-to-compute/): How significant can Nvidia's role be in the long term AI trend?
- [Alibaba: More for Less](https://lunarcapital.co.za/alibaba-more-for-less/): What's behind Alibaba's recent run?
- [Adyen: Bring on the Competition](https://lunarcapital.co.za/adyen-bring-on-the-competition/): How does Adyen win payment processing market share in the highly competitive environment?
- [In the Amazon-e](https://lunarcapital.co.za/in-the-amazon-e/): What trait has led Amazon to build one of the most successful businesses in the internet's history.
- [Apple Doesn’t Fall Too Far from the Tree](https://lunarcapital.co.za/apple-doesnt-fall-too-far-from-the-tree/): Without it's own Large Language Model, how can Apple benefit in the AI race.
- [Net Flicks on Flicks on Flicks](https://lunarcapital.co.za/net-flicks-on-flicks-on-flicks/): What has given Netflix the edge over their competition?
- [TSMC: Manufacturing Artificial Intelligence](https://lunarcapital.co.za/tsmc-manufacturing-artificial-intelligence/): How has TSMC become one of the most important companies in the world?
- [Quarterly Investment & Performance Review – 31 December 2024](https://lunarcapital.co.za/quarterly-investment-performance-review-31-december-2024/): Sabir provides an update of the Funds' performance and how Lunar Capital plans to invest in the current market climate.
- [Sweet and Sour Lululemon](https://lunarcapital.co.za/sweet-and-sour-lululemon/): How is Lululemon tackling their recent challenges.
- [CrowdStruck](https://lunarcapital.co.za/crowdstruck/): Has Crowdstrike used adversity to its advantage? 
- [Nvidia: Friend or Foe](https://lunarcapital.co.za/nvidia-friend-or-foe/): How has Nvidia's dominance incentivised their competition?
- [What’s Up Walt](https://lunarcapital.co.za/whats-up-walt/): What are the challenges facing Disney?
- [Mercado Libre – Seeking Credit](https://lunarcapital.co.za/mercado-libre-seeking-credit/): What are the risks Mercado Libre faces when growing their credit business.
- [Alphabet(ting) on AI](https://lunarcapital.co.za/alphabetting-on-ai/): How has Alphabet used its scale to invest for the future.
- [Luxury Wars](https://lunarcapital.co.za/luxury-wars/): What do the results from three fashion houses say about the luxury goods sector today.  
- [Chipping Away](https://lunarcapital.co.za/chipping-away/): What have the results from two companies shown us about the semiconductor industry today.    
- [Quarterly Investment & Performance Review – 30 September 2024](https://lunarcapital.co.za/quarterly-investment-performance-review-30-september-2024/): Sabir provides an update of the Funds' performance and how Lunar Capital plans to invest in the current market climate.
- [JP Morgan: Bank On It](https://lunarcapital.co.za/jp-morgan-bank-on-it/): What does a fortress balance sheet look like    
- [Nike: Will they Do It?](https://lunarcapital.co.za/nike-will-they-do-it/): Does Nike have what it takes to implement their turnaround vision?    
- [Cost Conscious Costco](https://lunarcapital.co.za/cost-conscious-costco/): Good prices and good margin, How has Costco managed it?    

## Pages

- [Lunar BCI Worldwide Fund (A) Information & Disclosures](https://lunarcapital.co.za/lunar-bci-worldwide-fund-a-information-disclosures/): Lunar FR Worldwide Fund (A) Information & Disclosures Risks Certain investments – including those involving futures, options, equity swaps, and other derivatives may give rise to substantial risk and might not be suitable for all investors. Where foreign securities are included in the portfolio there may be additional risks such as potential constraints on liquidity and repatriation of funds, macroeconomic risk, political risk, foreign exchange risk, tax risk, settlement risk as well as potential limitations on the availability of market information. * Total Expense Ratio (TER) Please note: A higher TER ratio does not necessarily imply a poor return, nor does […]
- [BCI Worldwide Flexible Fund](https://lunarcapital.co.za/bci-worldwide-flexible-fund/): Invest Lunar BCI Worldwide Flexible Fund The Lunar BCI Worldwide Flexible Fund is an open-end fund based in South Africa with a global reach. The fund’s primary objective is to explore both local and international investment opportunities in order to achieve substantial long-term returns for its investors. This fund places a unique emphasis on investing in businesses that demonstrate a competitive advantage through the innovative adoption of technologies. Login to view your portfolio, obtain reports and view the performance of your investments. Investment Philosophy “Growth at a Reasonable Price” is our investment motto. We believe that technology and innovation are key […]
- [Our Products](https://lunarcapital.co.za/our-products/): Invest Lunar FR Worldwide Flexible Fund The Lunar FR Worldwide Flexible Fund is an open-end fund based in South Africa with a global reach. The fund’s primary objective is to explore both local and international investment opportunities in order to achieve substantial long-term returns for its investors. This fund places a unique emphasis on investing in businesses that demonstrate a competitive advantage through the innovative adoption of technologies. Login to view your portfolio, obtain reports and view the performance of your investments. Investment Philosophy Growth at a Reasonable Price” is our investment motto. We believe that technology and innovation are key […]
- [Home Staging](https://lunarcapital.co.za/home-staging/): Lunar FR Worldwide Flexible Fund Unit Price [bci-price] updated [bci-date] NEWS More than Tencent? July 10, 2026 Will Naspers be able to find another Tencent?  Continue Reading LEARN Despite our experience of investing over multiple decades, we strive to continuously learn and improve our investment knowledge.  Read our Insights Subscribe INVEST The core of our business is to invest for long-term wealth creation. We have invested our own funds together with our clients’ funds, to align our interests with that of our clients to build long-term wealth for both parties. See our Funds ENJOY We aim to provide real positive returns […]
- [Disclosures](https://lunarcapital.co.za/disclosures/): Disclosures Provider and Representative Disclosures in Terms of the Financial Advisory and Intermediary Services Act (FAIS) As a client you have the right to the following information: YOUR FINANCIAL SERVICES PROVIDER, Lunar Capital (Pty) Limited Name Lunar Capital (Pty) Ltd FSP Number 46567 Physical and postal address 29 Seventh Street Houghton Estate, 2198, Johannesburg, SOUTH AFRICA +27 83 305 7860 sabir@lunarcapital.co.za or carl@lunarcapital.co.za lunarcapital.co.za Legal Status of Provider Lunar Capital (Pty) Limited, registration number 2015/-8250/07 is a private company established in 2015. As a licensed Financial Services Provider in terms of the FAIS Act, Lunar Capital (Pty) Limited accepts responsibility for […]
- [Forms](https://lunarcapital.co.za/forms/): Invest Investor Forms To become an investor in the Lunar FR WorldWide Flexible Fund, please download the first form below, fill it out and email it to info@lunarcapital.co.za. Once your information has been processed you will get account details to access and manage your investment on the FR Platform. Application for first time INDIVIDUAL Investor: Download Changes toInvestor details Download Transfers betweenFunds Download Application for first timeLEGAL ENTITY Investor: Download Changes toDebit Order Download Withdrawal fromFund Download Additional Lump SumContributions by Investor: Download Switch betweenFunds Download Need help with Investor Forms? Contact Our Team
- [Privacy Policy](https://lunarcapital.co.za/privacy-policy/): Privacy Policy Purpose Lunar will maintain the confidentiality of your personal information and comply with the Protection of Personal Information Act 4 of 2013 (POPIA) when processing your personal information. The purpose of this notice is to inform our clients about the type and use of personal information that we collect, the ways in which it is collected, the sharing, protection and storage thereof. Type of Personal Information Collected Personal information collected by Lunar can include your name, contact details, birth date, identity number, employment details, bank account number, financial information etc. How does Lunar collect personal information? Lunar collects personal […]
- [Services](https://lunarcapital.co.za/services/): Our Services Home Services Our Area of Expertise Lunar Capital is an investment management business. We manage the Lunar FR Worldwide Flexible Fund and bespoke offshore portfolio management through our Lunar Offshore Portfolio Management service. Our objective in the fund and portfolios is to provide real long-term returns. Our fund and portfolios are aimed at investors who have similar investment objectives to the founding members. The founding members are significantly invested in the Lunar FR Worldwide Flexible Fund. Our targeted investment objectives are to: Build wealth over the long-term Invest in selected equities, locally and offshore that have the potential to […]
- [Invest in People](https://lunarcapital.co.za/invest-in-people/): Invest in People Home Funds The promise of tomorrow Lunar Capital Youth League Our core purpose is to meaningfully impact the investment culture of the communities and people whose lives we touch. We hope to create a more meaningful approach to investing in South Africa. At Lunar Capital, we aim to continually learn and apply what we’ve learnt to our investing approach. We believe that learning is foundational to creating a strong investment culture in South Africa.  One of our initiatives was to create the Lunar Youth League to upskill the investment knowledge of our young investors. In the Lunar Youth […]
- [Philosophy](https://lunarcapital.co.za/philosopy/): Invest Our Philosophy Our years of industry experience have shaped our approach to investment. We ensure that we reflect our philosophy in all of our dealings. We Invest… With Thought We buy quality businesses that support thematic trends at fair prices, looking to deliver growth in the 3-10 year horizon. It is important to us that our portfolios reflect the thematic trends and companies we want to be invested in. This may result in some levels of concentration in certain sectors and companies at times. We only buy companies that we understand: how they make their money, what their risks are, […]
- [Contact](https://lunarcapital.co.za/contact/): Contact Us Get In Touch Reach out to our team for any questions you may have about our business and investment options. Address29 Seventh Street,Houghton Estate,2198, Johannesburg,South Africa Emailinfo@lunarcapital.co.zaPhoneTel: +27 83 398 8772
- [Insights](https://lunarcapital.co.za/insights/): Learn Insights We are passionate about sharing our knowledge with our clients and potential clients; through webinars, one-on-one meetings, small group/family meetings, posting our Insights, and through our Lunar Capital Youth League Academy. We believe that our clients need to also learn about investing, so that they can make more informed decisions. Learning is a multi-way street, we learn as much from our clients, partners and associates, as they do from us. All Weekly Stocktake Quarterly Performance In The Media Archive All All Weekly Stocktake Quarterly Performance In The Media Archive Weekly Stocktake Love Football, Not the Business Let’s put the […]
- [About](https://lunarcapital.co.za/about/): Learn More About Lunar Capital Founded in 2015 by Sabir Munshi, Guni Goolab, Carl Isernhinke, Bertie Jivan, Hanif Randera, Suren Sooklal and Higain Investments, an investment club founded in 1991. The founding members have invested in the business and provided long term seed funding to the Lunar FR Worldwide Flexible Fund, which was established under a Collective Investment Scheme (unit trust) umbrella. Lunar Capital is the investment manager of the Lunar FR Worldwide Flexible Fund. Investment analysis and portfolio management is performed by Sabir Munshi, Carl Isernhinke and Danyaal Munshi. Between them they have over 50 years of combined experience in […]
- [Offshore Portfolio Management](https://lunarcapital.co.za/offshore-portfolio-management/): Invest Offshore Portfolio Management The Lunar Offshore Portfolio Management service offering is suitable for clients who have a minimum of R500,000 to invest. Clients will be required to utilise their offshore foreign exchange allowance to invest in this offering. Lunar Capital has partnered with major local and global financial institutions to provide this service, giving our clients access to major investment jurisdictions globally. This service is structured to benefit from tax and estate planning. Contact us to provide you with more details of the Lunar Offshore Portfolio Management service. Login to view your portfolio, obtain reports and view the performance of […]
- [Home](https://lunarcapital.co.za/): Welcome To Lunar Capital Our core purpose is to meaningfully impact the investment culture of our communities and to assist our clients to grow wealth for themselves and their families. Learn More Invest Today Learn Invest Enjoy Lunar FR Worldwide Flexible Fund Unit Price Updated: Source: Funds Focus https://www.youtube.com/watch?v=EXwmOwWdHvE Invest Lunar FR Worldwide Flexible Fund The Lunar FR Worldwide Flexible Fund is an open-end fund based in South Africa with a global reach. The fund’s primary objective is to explore both local and international investment opportunities in order to achieve substantial long-term returns for its investors. Performance Unit Price Updated: Annualised […]
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