ANALYSE THIS: Denker Capital’s Dylan Martin
We analyse Dylan Martin, equity analyst at Denker Capital.
If someone came to you tomorrow with R100m to invest in just one company, which would it be?
Disney. I view it as a high-quality company with unrivalled brands (Marvel and Star Wars) and assets (its parks and resorts). I believe many investors underestimate the company’s recently announced plans to launch its own streaming service in 2019. Even though this is a risky move that may present challenges and could cannibalise its traditional bundled pay-TV businesses, I think it has enormous potential. In my view, Disney is cheap considering the long-term prospects of it integrating vertically and delivering its own premium content to a wider audience via new (and better) routes to market.
What is the worst investment you’ve ever made?
My worst investment decision was to sell Old Mutual from my personal investment account in 2011 to bank a 40% profit. The stock went on to return more than 200% over the next four years — but it’s easy to judge these things with hindsight.
What was your first job?
My first full-time job was as a control systems engineer for Sasol in the small town of Sasolburg.
If you could turn back time, what would you change in your life?
I would spend less time studying at university and more time hiking and surfing!
What is your most treasured possession?
My iPod. It is — aesthetically and functionally — a brilliantly designed product and I hope I never lose it.
If you could fix one thing in SA today, what would it be?
Corruption. Rooting it out would rectify many other problems and unlock huge potential for the country.
What’s your favourite song?
Johnny Clegg’s "Asimbonanga".
What travel experience is on your bucket list?
Machu Picchu, in Peru.
What is your greatest extravagance?
I love proper biltong. As long as I can find good biltong that costs below R300/kg, I’m in heaven. I think it’s fair to classify this as an investment in my own happiness.
What was your last purchase?
My last sizable purchase was a gas braai for our balcony after our recent move to Cape Town. Our first guests to come for a braai kindly helped me assemble it — though they didn’t have much choice if they wanted to eat!
What’s the best investment you’ve ever made?
I bought Calgro for R11/share in 2014 and sold it for R21/share a year later.
How much was your first pay cheque and what did you do with it?
I was paid R120 for a day’s work as a promoter for nutritional gym supplements when I was a scrawny 16-year-old. I didn’t sell very many! I can’t remember what I did with the money.