🔒 Premium: Exposing true agenda behind 1920-style Gauteng Mayoral takeover attempts

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I admire John Steenhuisen, the Durbanite whose political perspectives get up noses of woke scribblers infesting SA’s media landscape. More so lately, as his DA’s numbers improve, polling near to single digits behind the liberation party that followed the same corrupt, inept path as its African forebears. 

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Steenhuisen’s speeches and writing is also brave and rational. Like yesterday when the DA leader explained in detail the agenda behind attempts to destabilise governance in Gauteng’s three big metros.

To whit: “ANC finds itself cut off from its entire patronage network…….it desperately needs to get its hands back in the cash register and it will stop at nothing to do so. These co-ordinated attacks on our mayors are nothing short of a coup attempt by the corrupt.”

If you think he’s exaggerating, watch the recording of my interview with Charlie Robertson, author of The Time Travelling Economist. He explains why the politics of SA reflects the US about 100 years ago when Tammany Hall ruled, and businesses routinely bribed judges as part of their legal initiatives. 

More for you to read today: 

After his recent expose’ on the massively underperforming, but big fee charging Balanced Fund unit trusts, Ranmore Funds founder Sean Peche has taken his attack on money management ripoffs to a new level. The highly qualified asset management insider (CA, CFA) describes results of a lengthy and thorough investigation into unit trust Fact Sheets and in particular the Performance Fees charged in SA, as a “Nuclear Bomb” compared with his Balanced Funds “Scud Missile”. He notes that Performance Fees on retail funds are a uniquely South African feature, having been abandoned elsewhere by competition and regulator action. Peche took BizNews.com’s Alec Hogg through a presentation where he lays out the shocking results uncovered by his research. It shows, inter alia, that SA’s Big Three asset managers – Allan Gray, Coronation and Ninety One – are generating billions in unwarranted fees through applying self-serving self benchmarks to deliver huge “Performance Fees” – in some instances even when they have been losing money for investors.

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