Authorised Financial Services Provider | FSP nr 43057 Derivatives - PowerPoint PPT Presentation

Authorised Financial Services Provider | FSP nr 43057 Derivatives member of the JSE | member code CCBM

 Introduction  Dr David Paul  Market overview  Vector Vest  Courtney Capital  Products & Trading ideas Programme

 Arthur Buchner | Director  Willem Faul | Head of Private Clients  Nico Coetzee | Head of Structured Products  Neville Lahner | Senior Portfolio Manager  Corne Myburgh | Derivatives Trader  Jeffrey Barnes | Portfolio Manager  Wayne Barnes | Derivatives Trader  Schalk Myburgh | Algo Trading  Trishan Moodley | Algo Trading  Esther Estherhuizen | Client Relations Who we are

“ Dr David Paul was born in 1955 in Ireland. He obtained a BSC in mechanical engineering and completed his PhD. He was Head of Engineering Research at the Anglo company, Boart International, during the 1980's, and he also played rugby for Transvaal. During this time he started trading on the JSE. David is a self-employed equity, futures and forex trader. He also develops and presents strategies and seminars to all levels of traders. These courses, based on his more than 25 years market experience, have been taught to, amongst others: Absa, Investec, Nedbank, First Rand, Rand Merchant, DBSA, UIFSA. In 2009 he joined forces with Tom Hougaard [from TraderTom] and started the live trading room www.whichwaytoday.com. In 2010 he presented a paper on Forex trading, and chaired the Forex discussion panel, at the World Money show held at the Queen Elizabeth Conference Centre in London. In 2011 he presented a paper on Forex and Index trading at the World ” Money show in both London and Las Vegas. He recently became the Managing Director of VectorVest operations in Africa. He continues with his coaching and training to banks and private traders. Dr David Paul

 Switch to us and pay lower CFD rates …   Personal service …1 st  Various trading platforms …   Trading ideas sent to clients …   Full discretionary managed accounts …  Why choose us?

 EQ : local shares/equities  ETF : exchange traded funds  SSF : single stock futures  CFD : contracts for difference  ALSI : index futures contract  FX : currency futures vs Rand  OPT : options on the above Instruments

 Reinet vs British American Tobacco  BHP Billiton  Anglogold Ashanti  Investec Pair INL/INP Trading ideas 

We believe investors wanting exposure to BTI should rather consider investing in REI:  REI main holding is BTI, 85% of NAV  REI trading at discount to BTI – managing fees  Calculate the discount as follows:  84m BTI shares [R 387.50] = mkt cap R 32.55 bn  Div #REI shares [1.959 m] = R 16.61 /share  This is 85% of NAV, so NAV = R 19.55 current  Current share price of R13.75 = discount of 29% Reinet

 Current 80% correlation  Reinet lagging British American Tobacco REI/BTI

Billiton

Anglogold 

ANG lag GLD

Investec pair

Trading calls 

Thank you

 Courtney Capital Management Pty Ltd  112 Virginia Ave, cnr 11 th , Parkmore, Sandton  PO Box 651734, Benmore, Sandton JHB 2196  011.784.2113 | office  011.784.2112 | alternate  086.5252.405 | fax  www.courtneycapital.co.za  invest@courtneycap.co.za Contact us 