Join me today at lunchtime for reasons why Biznews portfolio is up 45%
For years, it was my belief South Africans should keep their capital at home. That was based on a view that as a developing nation, this country needs every cent it can get. So for locals to invest money abroad was, well, counter-productive to the national interest.
But after taking a long hard look at the way the economy is being mismanaged (or non-managed as RW Johnson describes it) just over a year ago I changed my mind. The result was the launch of the Biznews Global Share portfolio in partnership with Standard Bank Webtrader. It was, in effect, a bet against the "share price" of South Africa Inc, the Rand.
Sadly, that bet has been spectacularly successful. The currency has reflected consequence of poor economic policy decisions, losing a staggering 29% since December 5 last year when we launched the portfolio. Our share picks, all in the US, have done well too, with the overall portfolio delivering a 45% return to those who coat-tailed us.
I'll be providing the monthly update on our portfolio today through a live, interactive webinar at 12:30. Although there is no fee to join in the fun, you do need to register at https://attendee.
From Biznews community member Greg Gow
Thank you for recommending RW Johnson book I am three quarters through it between travelling to 8 different countries including a trip to Israel, which has resulted in many comparisons being made by me due to the book highlighting points of huge concern. As much as I hate to say it but South Africa is stuffed, RW Johnson is on the money.