Clear market notes built around the JSE, the rand, and what matters locally.

2026-10-15 10:55 • The Motley Fool Mixed Axe Cap view: Selective

As AI reduces software development costs, proprietary data and distribution networks become the primary competitive advantages for software companies. Companies like Palantir, CrowdStrike, and ServiceNow have built defensible moats through accumulated data and embedded customer operations, while others like Salesforce and Snowflake face disruption as AI commoditizes their traditional business models.

Axe note: AI cuts software build costs, making proprietary data and networks the edge for winners.

2026-10-15 10:50 • The Motley Fool Positive Axe Cap view: Selective

Berkshire Hathaway has outperformed the S&P 500 in 11 of 13 down market years since 1965, demonstrating resilience during market downturns. The company's diversified business portfolio, substantial cash reserves ($365.5 billion), and disciplined investment approach provide protection against market volatility, though it has underperformed in 2026 with only 3% gains versus the S&P 500's 14% rise.

Axe note: Berkshire Hathaway historically outperforms in downturns, a trait worth noting as rand volatility looms.

2026-10-15 10:30 • The Motley Fool Mixed Axe Cap view: Selective

PayPal stock has declined over 80% from its 2021 peak due to increased competition from alternatives like Stripe, Wise, Google Pay, and Apple Pay. However, the article argues the stock is undervalued, trading at less than 10x forward earnings with a 13% net margin, 439 million active accounts, and modest but consistent growth. While PayPal's best growth days are behind it, the company continues to demonstrate resilience and profitability through stock buybacks and customer retention.

Axe note: PayPal trades under 10 times next year’s earnings but faces stiff competition from tech giants.