To offshore or not to offshore – the rally is the question

With the rand tanking, jobs vanishing, and local asset prices in the doldrums, many South Africans are looking offshore for investment opportunities. The recent rally in global stock prices – particularly in the US – has made offshore investing even more attractive and South Africa's own Dr. Doom, Magnus Heystek, strongly advocates taking money out of the country. But before South Africans cash out and go all-in on American stocks, it's important to ask one key question: Does the US market rally reflect reality, or just hope? In this episode, featuring content from the Bloomberg P&L podcast, we look at whether stock markets are appropriately pricing in signs of economic recovery or whether investors are pushing prices up past the point of good sense. As local investors contemplate the devastation on the JSE, it's an important question to examine. – Felicity Duncan

The US has begun its reopening – all 50 states have loosened restrictions to some degree and people are back at work and shopping again. Millions of people continue to file for unemployment, but the number of weekly claims is falling and there are definite signs of life throughout the economy.

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