We are big believers in leaving your portfolio alone for as long as possible. Not only does that result in better returns but it also saves you money on brokerage fees and taxes.

I decided to measure the average brokerage paid per annum by our model portfolio, which is a real fee-paying client account. Over a 14-year period, the account has paid just 0.8% of the current value in brokerage fees. If you annualise that fee, you get to 0.05% per annum. Yes, you read that right, 5 basis points per year in brokerage fees.

Our brokerage fees are quite high by industry standards, but because we are patient and prefer to "do nothing", these are mostly just one-time costs. Also, our management fees are low, which is what really matters.

As the saying goes, a share portfolio is like a bar of soap, the more you play with it, the smaller it gets.

My colleagues are probably tired of me talking about the possibility of South Africa lowering our inflation target to 3%. Interest rates are the heart of the financial system, and they, in turn, are determined by inflation levels. So a change in the inflation target is a big deal because it will have ripple effects throughout the entire South African economy. I have thought of two more positive impacts of lower inflation.

The first is that lower inflation will mean that you pay lower capital gains tax. In a high-inflation environment, asset prices must increase just to keep up with spiraling prices. The problem though is that SARS doesn't allow you to take into account the impact of inflation on your gains. Roughly speaking, under our old 6% inflation target, prices were doubling every ten years or so. That meant your share portfolio would need to double in that time just to keep up, but if you sold after 10 years, SARS would want their pound of flesh.

Another good reason to have lower inflation is to make retirement easier. The problem with quickly rising prices is that it compounds, and money set aside for retirement can rapidly dwindle. This is especially true because many older folk are put into 'low risk' products that have guaranteed returns, but don't really stay ahead of increasing prices.

The Reserve Bank has put forward a good case to change our inflation target. It is now in the hands of treasury; the one part of the government that does seem to work. Fingers crossed.

Fintech giant Block (formerly Square) is getting promoted to the S&P 500 tomorrow, replacing oil producer Hess after its acquisition by Chevron. The announcement sent Block's share price up over 7.2%, as index trackers and ETFs begin to rebalance their holdings.

Block, founded by Jack Dorsey in 2009, made its name with small business payment terminals and later pivoted into broader financial services, including crypto and lending. The name change to "Block" in 2021 was meant to reflect its blockchain ambitions, though the timing arguably aged like milk.

It's been a tough year for Block. The stock is down 8.1% year-to-date, with a market cap of $44.8 billion, it is well above the median S&P 500 company. This inclusion adds to the tech-tilt of the index, which makes sense given how technology is involved in every part of our lives.

The Lucid Air Grand Touring EV is incredible. The car went 1 206 kilometres from St. Moritz to Munich on a single charge - A Guinness World Record for longest EV trip on a single charge.

The Odyssey is a classic story. Christopher Nolan is bringing the epic to life - Tickets for IMAX screenings sell out a year in advance.

Asian markets are off to a sluggish start this morning, with the MSCI Asia Pacific index slipping into the red. The only bright spots are Hong Kong, mainland China, and India, where benchmarks edged higher. Elsewhere, it's a sea of red across Australia, Japan, Taiwan, and South Korea.

In local company news, Sibanye-Stillwater is branching out of the mine shaft and into the scrap heap with an $82 million deal to buy Metallix Refining, a 60-year-old US company that recovers gold, silver, and PGMs from industrial waste. Based in North Carolina, Metallix sells to clients in the US, UK, and South Korea.

US equity futures are slightly lower pre-market. The Rand is hovering at around R17.62 to the US Dollar. The firing of corruption-accused Higher Education Minister Nobuhle Nkabane appears to have given our currency some positive momentum.

Today we'll see earnings numbers from SAP, Coca-Cola, and Intuitive Surgical.