What is happening in the investment markets?

Things are returning to normal in our daily routines. We are back at the office, children are back at school, politicians are slinging mud and the earth is still warming. When we take a look at our investments we see that things have not changed much from last year. South Africa is still underperforming, the […]

Almost tax year end!

It is almost time to close off the 2024 tax year which will be on 29 February. Anything tax-related has to be finalized before that date. There is the usual checklist you have to go through, and here are some of the things that should be on that list: • If you are a provisional […]

How affordable is international travel?

When we talk about investments, we try to separate facts from emotion. We look at the returns, the risks, the opportunities and the valuations. We try to accumulate enough stuff to trade for a specific lifestyle until the day we die. A very important part of being human, is to create memories. These memories can […]

One down, eleven to go.

We can almost say goodbye to January. It has been a smooth transition from 2023 into 2024 and it seems that nothing has changed. The equity markets in the USA are still outperforming the markets in SA; the dollar is still outperforming the rand; and all the geopolitical problems are still carrying on. China is […]

Will 2024 favour the cautious investor?

Quite often we see negative or at best lacklustre investment returns after a very good year, and good returns after a bad year. This scenario played itself out over the last three years with 2020 starting bad but ending positive; then a very good 2021; followed by a very bad 2022; and then a good […]

2023 In Review

Except for China, most global equity markets closed 2023 in the green (MSCI World +24.4% for 2023). Despite the wars in Gaza and Ukraine, stocks rallied into year-end, with bonds reversing the heavy losses from earlier in the year as US inflation fell and recession fears eased, replaced by a growing belief that US policymakers […]

The highlight of 2023

If there was one area of the market you had to invest in during 2023, then it was the Magnificent 7 (M7). Stocks in the Magnificent 7 include Alphabet (Google), Amazon, Apple, Meta (Facebook), Microsoft, Nvidia and Tesla. The Magnificent 7 index has accounted for 87% of the appreciation of the S&P 500 index in […]

The world is a board game

The world is a board game and we as normal citizens are not making the rules. As we have stated before, we cannot advise on or manage money based on the expectation that a calamitous event will occur. The most we can do as advisors, is to take the current situation and the most likely […]

On the threshold of a potentially explosive 2024

The phrase “batten down the hatches” comes to mind when we think about what might be in store for us in 2024. If we look at what is on the itinerary, we see two elections, one in the USA and one in SA; and we see two raging conflicts, one in Gaza and one in […]

SA medium-term budget policy statement 2023

Every year, round about this time, the Minister of Finance gives us feedback as to how the actual figures compare to those budgeted at the beginning of the year, and every time they are worse. If you read some of the commentary on the MTBPS (Medium Term Budget Policy Statement), mention is made of the […]