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This morning I instructed my accountant to invest the maximum possible amount into my RA. This is a no-brainer decision for me, as (1) I don't think I can outperform the massive tax advantages available from an RA, and (2) I put a price on the security it provides as untouchable money if I go bankrupt (not that I'm heading that way, but @#$@ happens!). I use Allan Gray (and no, they didn't pay me to say that). Why RA's are so tax efficient is not the type of topic which makes listeners leap onto tables and start cheering, so I've avoided putting you through the pain!

It goes without saying that, even though I predicted that the share price hadn't bottomed yet, I haven't been pleased to see the price of Esor falling below the level I bought it at. I am somewhat pacified by Bernie Krone, the CEO, purchasing another R319k of Esor shares at 65c - clearly the man has a lot of pocket money lying around :)

And now onto a compay which has a small similarity with Esor, in that they've both got civils divions - I was hoping to say more than this, but for the moment let's just say that I've taken more than a passing interest in Buildmax. On Thursday Terry Bantock invested R42k into Buildmax, at R2.50 and R2.55 a share - well, his trust did anyway. Terry is CEO of Buildmax, and a man who knows a good investment - he spent 4 years as an industrial advisor to Brait Private Equity. I'm seeing some value there, but want to close the gap on bits and pieces that I'm unsure of in its financials - I'm struggling to get in touch with the right person at the company.

The business press today broke a story about Grindrod's new locomotive leasing division - the same news I wrote about in this newsletter over a week ago :)

Wonder what's going on at Santova - director sale after director sale after director sale. Also big bailouts from the Austro Group today, by the Abrahams Family Trust.

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