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We recently pointed out that, since January last year, the JSE has risen a superlative 38.7% to a near all-time high, despite a tottering global economy. What we didn’t say was that two-thirds of this remarkable return is explained by just three stocks – Richemont, Naspers and SABMiller – which contributed a staggering 25.0% of the 38.7% return. This creates a real quandary for investors.
South Africa’s listed property sector soared 5% during the week ending 13 September 2013, significantly outperforming both the equity and bond markets. The sector rallied in response to a stronger Rand and lower bond yields, both globally and in South Africa. Among the heavyweights, Capital, Hyprop, Redefine and Resilient gained more than 6% last week.
In 1996, a litre of unleaded petrol cost you R1.74. Around the same time, a standard movie ticket – which now sells for over R50 – would have cost you less than R15. Getting down to basics, a loaf of sliced white bread costs you twice as much today as it would have a decade ago….
The financial services industry is an industry which depends on the astute advice of intermediaries as they analyse and interpret market conditions in order to find the best vehicle in which their clients’ money can grow.
How is your business leveraging the efficiencies and scale offered by technology without diluting your human edge?