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

2026-10-07 09:30 • The Motley Fool Negative Axe Cap view: Neutral

The Vanguard Energy ETF (VDE) and Vanguard FTSE Pacific ETF (VPL) are significantly outperforming the S&P 500 and Nasdaq-100 in 2026, with gains of 42.3% and 30.7% respectively. However, both face near-term headwinds: VDE is vulnerable to oil price volatility tied to geopolitical tensions, while VPL's heavy Japan exposure (54.5%) faces risks from rising interest rates that could strengthen the yen and hurt exporters.

Axe note: Vanguard’s energy and Pacific ETFs are up sharply in 2026 but face clear risks that matter for South African investors.

2026-10-07 09:15 • The Motley Fool Positive Axe Cap view: Selective

Both Sandisk and Micron have surged in 2026 due to AI data center memory demand, with Sandisk up 613% and Micron up 272%. However, Sandisk's gains are heavily driven by pricing rather than volume, raising concerns about sustainability. Micron appears better positioned with diversified memory products (NAND and DRAM), a custom high-bandwidth memory partnership with Nvidia, and stronger long-term growth potential.

Axe note: Sandisk’s quick gains on pricing look risky compared to Micron’s broader AI memory play.

2026-10-07 09:06 • The Motley Fool Mixed Axe Cap view: Selective

Warren Buffett's lesser-known portfolio managed through New England Asset Management (NEAM), a Berkshire Hathaway subsidiary, has significantly reduced positions in AI stocks Alphabet and Broadcom during Q2, citing concerns about AI bubble valuations. Instead, the portfolio has allocated over $149 million (17.3%) to S&P 500 index funds (SPY and VOO), reflecting Buffett's long-standing recommendation for retail investors to invest in low-cost index funds that have generated positive returns over every 20-year rolling period since 1900.

Axe note: Berkshire’s New England Asset Management trims AI stocks and boosts S&P 500 ETFs, signalling caution on tech exuberance.