On Monday morning, South Africans started the week with shock and disbelief as President Jacob Zuma gave an urgent instruction to Finance Minister Pravin Gordhan and his deputy, Mcebisi Jonas, to return from an investor roadshow in the UK and US.
The market is a strange and wonderful creature and it tempts many investors to second-guess what they think are hot trends. The point is that January’s performance, especially that of the standout super-performers -- JSE heavyweights Richemont, BHP Billiton, Anglo American and Naspers -- should never be assumed to be a done deal. Neither should the rather nice run-up in gold and platinum stocks be assumed to continue. As it turned out, a dose of caution was called for in those cases.
Why is a Private Client bank account such a status symbol? Do we feel important being able to phone our private banker? When last did you speak to yours? Was this because you called them or did they contact you about some sort of Value Added Service they would like to offer you? Do they even know who you are? Do you think you are just a named number in their fancy CRM system?
The following blog contains information on how Emperor Asset Management, as well as the general market, performed over the last week, which includes Local and International indices and the constituents within the local markets.