If Capital

If Capital is a discretionary investment company (Category II), FSCA license 51648. We offer our clients a unique and bespoke investment management service.

We build personal share portfolio and provide you with ease of access to local and global stocks. If Capital constructs, nurture, and actively manages tailor-made share portfolios for our clients. Clients receive access to stock markets all over the globe and with our skill and expertise, we manage and apply the most opportune strategy to all portfolios. Local portfolios are denominated in South A

frican Rands while offshore portfolios are denominated in either US Dollars, British Pounds, or European Euros.

15/06/2026

Top Ten Companies by Decade

Spot the odd one out.

Kodak. AIG. Citigroup. Bank of America. All once sat in the top 10 of the S&P 500 by market cap.

This chart, covering 40 years of S&P 500 data, tells you everything you need to know about why diversification and adaptability matter more than conviction in any single name.

The total market cap of the top 10 has grown from $251B in 1985 to $19.4 trillion in 2025. The wealth creation is extraordinary. But it has flowed to completely different companies than anyone predicted.

Change really is the only constant.

What will the 2035 list look like?

04/06/2026

The US–China rivalry is no longer just about trade.

It’s now a full-scale competition over the technologies that will define economic power, military capability, and geopolitical influence for the next generation.
- AI investment is accelerating rapidly in both countries.
- Semiconductor spending has become a strategic national priority.
- Defence R&D continues to scale as advanced technologies reshape modern security.

What stands out isn’t just the size of the spending, it’s the convergence of policy, capital, and national strategy.

The world is moving from globalization to strategic competition.
And the sectors attracting the most investment today are likely to shape the global balance of power tomorrow.

15/05/2026

Sovereign Wealth Funds (SWFs) are some of the most powerful investors in global markets 🌍💼

A Sovereign Wealth Fund is a state-owned investment fund, typically built from commodity revenues, foreign exchange reserves, or budget surpluses. These funds invest globally across equities, bonds, infrastructure, real estate, and private markets 📈🏗️🏢

Why do they matter?
✓ Long-term focused
✓ Highly diversified
✓ Less reactive to short-term market noise
✓ Increasingly influential in private markets and infrastructure

Their investment activity can shape sectors, capital flows, and even broader market sentiment

In many ways, sovereign wealth funds provide a useful lens into how patient capital thinks about the future 🔭

For individual investors, there’s an important takeaway:
Successful investing is often less about reacting to headlines, and more about disciplined, long-term capital allocation 💡

07/05/2026

In AI, compute costs more than talent ⚙️

A key shift in the AI industry is how spending is structured: compute, not people, is now the dominant cost driver 💻

Across leading AI companies, compute typically accounts for 57% to 70% of total costs, reflecting just how capital-intensive it has become to train and run frontier models.

For example, Anthropic is projected to spend around $6.8 billion in 2025 on compute alone, covering both training and inference workloads 💰

In contrast, even with highly competitive compensation for top-tier AI talent, staff and other operating costs remain well below compute spending across major labs. Infrastructure has become the defining expense.

Current estimates from Epoch AI suggest that several frontier labs are still spending 2–3x more than they generate in revenue, although this gap is expected to narrow over time as models scale and monetisation improves.

The takeaway: in modern AI, advantage is increasingly determined by access to compute, not just engineering talent.

01/05/2026

Happy Workers’ Day 🎉

At iF Capital, progress is driven by insight, discipline, and people who turn strategy into meaningful results.

From supporting clients and managing risk to making informed decisions in a fast-moving environment, your expertise, focus, and professionalism are what keep the business strong and moving forward 📈

Today, we recognise and celebrate the people behind the performance. Thank you for your commitment, consistency, and excellence every day.🤍

24/04/2026

📊 Earnings beat doesn’t guarantee stock gains

A company can report strong earnings and still see its share price fall. That often confuses investors, but it’s a normal market dynamic.

Markets don’t price in actual results. They price in expectations.

So what really moves stocks is the surprise relative to expectations, not whether the number is simply “good”.

Even a solid earnings beat can disappoint if:
* The beat is smaller than expected
* Forward guidance is cautious
* Investor sentiment was overly optimistic

In short, markets react to what was already priced in, not just what happened.

17/04/2026

🚀 SpaceX Set to Rocket into the Top 10

At a reported $1.75 trillion valuation, SpaceX’s IPO would instantly place it among the world’s 10 largest companies by market value.

If it lists near that level, SpaceX would surpass Saudi Aramco as the largest IPO in history, setting a new benchmark for public markets 📈.
With Elon Musk owning around 42% of the company, this could put him on track to become the first trillionaire 💸.

Even though SpaceX is still private, its reported IPO valuation already puts it in rarefied territory, ranking 8th globally—above giants like Amazon, Microsoft, and Alphabet 🌍.

From rockets to satellites, SpaceX isn’t just redefining space, it’s reshaping the financial universe too 🌌.

03/04/2026

Market Shocks Follow Predictable Patterns 📉

The panic, the headlines, the “this time it’s different” energy. Every major shock feels unprecedented — but history tells a different story.

Across five decades and multiple crises, the pattern remains remarkably consistent:
* Sharp initial sell-off
* Peak uncertainty — where doubt is loudest and conviction is hardest ⚠️
* Recovery begins before the news improves

Markets don’t wait for positive headlines or a shift in sentiment. The early stages of recovery often happen quietly — while most are still expecting worse.

The Oil Crisis. Black Monday. The Dot-com bust. The 2008 Financial Crisis. COVID-19.
Each felt like uncharted territory. Each was followed by a recovery that, in hindsight, looks almost inevitable.

The turning point never feels obvious in real time — only after the fact.

You don’t need to predict the bottom.
You just need to be invested when it happens. 📈

27/03/2026

📉 Rate cuts were coming… until they weren’t. Here’s why:

South Africa’s inflation had been on track, with CPI reaching the SARB’s 3% target in February. Rate cuts looked likely.

Then global energy prices spiked due to escalating Middle East tensions, impacting the Strait of Hormuz. As a net petroleum importer, South Africa felt the effects quickly:

Fuel prices increased
Transport costs rose
Food production became more expensive
Service costs followed

The result: inflationary pressure across the economy.

Key point: The SARB bases decisions on future inflation, not just current numbers. With the outlook worsening, cutting rates now would undermine price stability — the SARB’s core mandate.

The pattern is consistent: rate cuts follow improving inflation trends and pause when conditions deteriorate. We’re at that turning point again. “Higher for longer” is back, and positioning accordingly is essential.

20/03/2026

🌍 Iran Conflict: What You Need to Know (Without the Noise)

This isn’t just another headline — it’s a global event reshaping markets, oil, and your portfolio. Here are the key takeaways 👇

⚠️ Not what you think
– Not a war on Iranians or Islam
– Not about “taking oil”

🔥 What’s really driving it
– Funding regional proxy wars
– Nuclear threat at critical levels
– Regime under internal & external pressure

🛢️ Why oil matters
– 60–70% of Iran’s economy depends on it
– 90% of exports through ONE hub → disruption = global ripple

🌊 Global risk
– 20% of world oil flows through Strait of Hormuz
– Supply disruptions → rising prices → inflation & economic pressure

📉 Market impact
– Volatility is here
– Inflation risk rising
– Opportunity follows crisis

📊 Bottom line
Markets bounce back after shocks — be ready, not reactive.

Address

75 Lavender Lane, Somerton Estate
Bloemfontein
9301

Telephone

+27514070800

Website

http://www.ifcapital.co.za/

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