Ratings Downgrades and our Equity Positioning
Apr 06, 2017
If the cap fits, wear it – actions come with consequences. Even though President Zuma’s cabinet reshuffle last week effectively made rating downgrades far more of a certainty in our minds, it still came as a surprise when S&P downgraded South Africa’s foreign credit rating by one notch last night to “junk status” (BB+), ahead of their scheduled June review.
Cabinet Purge Ignites Downgrade Decision
Apr 05, 2017
A lot has been said over the past year in the media regarding the possibility of whether South Africa (SA) will be downgraded to “junk status” by the respective rating agencies, namely Moody’s, Standard and Poor’s (S&P) and Fitch.
Long Term Investing
Mar 22, 2016
Mirage on the horizon or pot of gold at the end of the rainbow?
The Folly of Backing Last Year's Winner
Mar 15, 2016
One of the most destructive behavioural traits of investors is to constantly make investment decisions by looking at recent past performance....
The Zuma Shock
Jan 13, 2016
While you were away, much has transpired in our economy, headlined by the shock removal of Minister Nene by Jacob Zuma. The surprise announcement was not received well by markets, with an estimated R500 Billion in value, being wiped off since the debacle.