Our thoughts on the current issues facing South Africa
If you would like to hear our thoughts on the current issues facing South Africa, amidst the Covid-19 pandemic, please click below to listen to
Finding your investment edge is key to outperformance
A common trait of successful investors is that they tend to understand their own strengths and limitations. They are cognisant of their circle of competence
Factors that have, and will continue to, contribute to the performance of the South African equity market
It has been a tough year for South African equities – by the end of November the FTSE/JSE All Share Index had delivered -12.6% for
Rational investors can benefit from emotional Mr Market
A version of this article was first published by Moneyweb. When markets swing wildly as has been the case so far in 2018, many investors allow
Is the tide changing for active value managers?
This article was first published by Glacier Research’s Funds on Friday on 3 August 2018. For the past decade, investors in the South African equity market would
First-hand accounts of the Omaha experience
Every year thousands of people head to Omaha in Nebraska in the United States to attend Berkshire Hathaway’s annual shareholders’ meeting (AGM) – mainly to
Capitec is still not African Bank (of 2014)
I wrote an article in August 2014, when Moody’s downgraded Capitec Bank’s credit rating by two notches, a week after the South African Reserve Bank
The danger of making short-term decisions when investing for the long term
It is a sad fact that, on average, investor returns underperform reported fund returns because media noise and short-term performance reporting fuel investor fear and
Why we sold our investment in Steinhoff
The announcement of financial irregularities by Steinhoff early December 2017 meant that we could no longer rely on the numbers on which the reported margins
Star – the new jewel in Steinhoff’s crown
Pepkor is back on the JSE as Steinhoff Africa Retail (Star). In this article, we explain the history of prolific corporate actions that led to
