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After years of chasing the outperformance of United States (US) stocks, we expect South African investors to exercise caution this year by taking a more global stance as worries rise about rich valuations of long favoured American names.
The local equity market hit a new record high last week. The FTSE/JSE All Share Index rose above 67 000 index points for the first time, a level that seemed far away not long ago. At least one headline in a prominent local financial website asked if this points to a bubble.
The strongest deterrent against FSP compliance missteps is or should be: