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State of the nation

On Thursday, 7 February 2019, the President of South Africa, Cyril Ramaphosa, delivered his second State of the Nation Address (SONA) since taking office on 15 February 2018. Ahead of the event there was a lot of media speculation (locally and internationally) and debate about the likely content and tone of Ramaphosa’s speech, especially ahead…

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Do we need to worry about trade wars?

One of the most common headlines in the world currently relates to the concept of ‘trade wars’. This has quickly become the most cited risk to markets with 60% of the fund managers surveyed in the latest BofA Merrill Lynch Global Fund Manager Survey listing the possibility of a protracted trade war as the biggest…

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Implications of land reform for local investors

Investors and the public at large will note with some anxiety the prospect of ‘land expropriation without compensation’ as a targeted policy by the ruling party.  In this article we assess the potential outcomes of this policy on investor portfolios, and where both opportunities and threats may exist. A change to the Constitution The motion…

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The Economics of Ubuntu

Economics –The science that deals with the production, distribution and consumption of goods and services or the material welfare of humankind. Ubuntu –  The act of showing humanity towards others. “A person is person through people”. In this piece I will be focusing on what these two concepts mean when they are fused together to…

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Investec SA – The Income Dilemma 2015

“During the mid to late 2000’s, South African investors requiring income could invest in the money market and earn an attractive income with little risk to their capital. By late 2008, short-term interest rates peaked at 12%, while inflation was just over 8%, generating substantial real returns. While this ‘income nirvana’ was coming to an…

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The GrayIssue 168 – Life in a month

July has been designated ‘Savings Month’ by the Savings Institute of South Africa. It is a good time to reflect on the choice we make between saving and spending; a choice that pits our future needs against what we need and want now. Many of us struggle with this trade-off because it’s difficult to have…

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