Alec Hogg’s regular column covering investment, economics, moneycraft and, occasionally, something very personal.
By Alec Hogg Next to Vikings and butter, Denmark’s most famous export is the brilliant author Hans Christian Andersen. He had a wonderful way of entertaining while poking fun at those who needed it. My favourite Andersen story is the one about weavers who convinced the Emperor about their secret cloth that was only invisible … Read more
Credit Ratings Agencies have been in the news a great deal in the wake of the collapse of Abil. The Moody’s decision to downgrade Capitec by two notches and then drop the rating of all SA’s Big Four banks drew sharp criticism, including from the SA Reserve Bank. Who are these agencies? What makes them … Read more
By Alec Hogg I went on a bit about courage yesterday. How it’s a considered decision to do what is right only after assessing all the facts. An action, a choice of the tougher route rather than the easier, softer way. As fate would have it, two of my studio guests yesterday personified such bravery. … Read more
By Alec Hogg We can learn much from dead guys. Including some who lived thousands of years ago. When life was slower. When there was more time to think. Over the weekend I was reminded of this when researching the concept of courage. It led to the great Greek philosopher Aristotle. He called courage The … Read more
By Alec Hogg I spent yesterday morning at a presentation by Econometrix’s MD Rob Jeffrey, learning about the travails of SA’s microfinance sector. And had my eyes opened. Wide. For the past seven years microfinance operators – they’re the legal ones, members of the official association MFSA – have had no increase in the cap … Read more
By Alec Hogg Two lines people like me should stay well away from. First is ownership of listed shares. I’ve tried all kinds of systems. Potential conflicts are only removed when one avoids being invested in individual stocks. The second is becoming too friendly with your subjects. It’s unhealthy to be an island in the … Read more
By Alec Hogg The biggest problem for those invested in command and control economic dogma is the way technology is transforming the world. What took months gets done and dusted in days. With speed comes complexity. No human being, least of all those keeping public sector hours, has a hope of controlling such a rapidly … Read more
By Alec Hogg I enjoyed meeting Derek Yach yesterday. A South African who has risen to pre-eminence in the global medical field, he now runs Discovery’s ambitious Vitality Institute in New York. Our CNBC Africa interview was fascinating, including disclosures of how he helped his former employer, PepsiCo, remove mountains of sugar from its products. Confirmation the … Read more
By Alec Hogg At one of the Berkshire AGMs, Warren Buffett was asked whether he would invest in a sports team. Never, said Buffett. Those are vanity assets, not investments. Not everyone thinks so. Last week a Hedge Fund, Lansdowne, invested almost R1bn to buy another 3% stake in UK football club Manchester United, taking … Read more
Paul Hansen is Stanlib Wealth’s director of Retail Investments. Over the years he’s been a fairly regular contributor to my broadcasting efforts. And every morning he sends his newsletter with updates on local and global stocks markets. Usually I scan them to be sure nothing important has escaped, and then move on. But today’s was … Read more