We are 20 days into the new year and we have mixed results out in the market. There are already some stocks down double digits, notably Mr Price and Woolies. On the other hand we see a stronger rand, 4% up against the $. The S&P500 in the USA is flying at +5% and even the UK market is positive, notwithstanding the rejection of Theresa May’s Brexit plan and her surviving a vote of no confidence.
Our interest rates have been kept on hold and we might even see another reduction in the price of petrol in February. But then we see the first terrorist attack of the year in Kenya and the ugly debate about government in South Africa prescribing where you may invest your pension money.
After everything has been said and done the most important point is that we have to see some positive results by the end of this year, even if it comes in twists and turns.
