Trade of the Month: Old Mutual vs Sanlam
Sanlam’s results presentation was refreshingly candid
Some sailors consider it bad luck to serve on ships whose names had been changed. History shows that it might not just be a silly superstition. Ships with changed names had sometimes been involved in piracy or something else. Can this attitude apply to stock exchange-listed companies as much as to ships? The frequent changes the proprietor of this publication has made to its name makes it hard work to detail how its market cap has dwindled while its once smaller rival Nasionale Pers thrived. So let’s pick on Old Mutual instead. Some may argue that changing the share code from OML to OMU does not constitute a name change. While most of us simply called the insurance group Old Mutual both before and after its split from Quilter, the company itself claims to be a new entity with a new name. "With our debut results as Old Mutual Limited, I am pleased to report that we are on track to deliver on the commitments we have made to investors," CEO Peter Moyo said in the company’s recent inter...
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