I was asked how Vestact selects stocks for our model portfolios. We have a record of picking good ones, early, that go on to outperform the overall market.

This was the question: "Do you do company evaluations yourself and use data analytics to predict future prices or do you just use information from sources like Bloomberg to make your decisions?"

This was my reply: "We read widely, and if we like the sound of a stock, we buy some ourselves. If it does well (results good, share price moving higher) we buy it for a few risk-tolerant clients. If it continues to do well, we add it to more client accounts."

In other words, the process is not model driven or technical, it's rather intuitive and quite drawn out.

When I started in this industry, I read a lot of books about traders and hedge fund managers who became billionaires by finding hidden gems in the stock market. It was exciting to think that if you thought out of the box, you could beat everyone else and get rich quickly.

After 15 years as a portfolio manager, I have realised that beating the market that way is near impossible. The good news is that you can still do very well out of equities and consistently beat the market if you stick to one golden rule: remain calm when times get tough. It is less about being smart and more about having an even temperament.

If you are consistent and keep your cool, you should be able to do far better out of equities investing than people who are a lot smarter than you, but cannot control their emotions.

This is less romantic than buying secret treasures that no one else knows about and getting rich overnight. But that's life. Usually, the best way is the slow and steady route.

On Thursday, Uber and Lyft both dropped around 10% on the news that Google-backed Waymo is expanding its operations to Miami. The self-driving taxi company said it would train its cars on Miami streets in 2025 as it prepares to offer its rides to customers in 2026.

Waymo has decided to partner with Moove, a company with African roots, that will be taking on the management of the fleet operations, facilities, and charging infrastructure. Interestingly, Waymo has decided not to partner with Uber in Miami. The market was disappointed because they had recently teamed up with the ride hailing app in Austin and Atlanta. It is worth noting that Uber is a big Moove customer and early investor.

The future of the taxi industry is self-driving cars. Uber used to have its own self-driving research division, but that was shut down to help the company reduce its massive cash burn at the time. It seemed that Waymo was going to be Uber's new self-driving partner, but maybe not.

The reaction of Uber and Lyft's share prices shows that Waymo (Google) is a real threat.

Lululemon shares soared 16% on Friday, enjoying their best single-day performance since 2018. The rally came after the upscale athleisure company delivered strong third-quarter results and raised its full-year guidance.

Revenue rose 9% to $2.4 billion, with standout international growth (+25%) and a 39% surge in China offsetting a 2% decline in the Americas. Comparable sales grew 4%, reversing a three-quarter slowdown.

International expansion, online sales growth, and new men's products will help the brand hit a $12.5 billion revenue target by 2026. The brand's pivot to baggier styles and broadening its lineup also helped reignite demand, particularly in its core leggings business.

Lululemon's agility to protect profitability and its success in defying broader retail headwinds, shows the brand's resilience and ability to buck trends in a tough market.

Happiness is a choice. It turns out you don't need external validation - Let go of fear, resentment, and ego.

Uber is expanding its offering in South Africa. You no longer need to contact your friend's uncle to transport some furniture - Uber bakkie service launched.

South Korean stocks slid 2.2%, and the Won neared 2009 lows after political turmoil rocked markets. The failed impeachment motion against President Yoon Suk Yeol raises fears of extended uncertainty and heightened volatility for investors.

In local company news, Nepi Rockcastle is bolstering its portfolio with two major acquisitions in Poland. The group has agreed to purchase Silesia City Centre in Katowice for EUR405m, following its recent EUR353m acquisition of Magnolia Park in Wroclaw.

US equity futures are mixed pre-market. The Rand is trading at around R18.04 to the US Dollar.

Have a good week. If you are South African and still at work, good for you.