Most investors know that cash is “safe.” Not all investors realise that over longer periods, South African cash has delivered a low real return for investors after inflation and taxes are stripped away. Safety, in this context, is a perception built on low volatility, while the inflation risk is not fully appreciated by investors. This article argues that cash is not a low-risk asset in the financial planning world. Instead, the risk is simply deferred into the future and cry

Three private companies with a combined value approaching $3.5 trillion are moving closer to public listings: SpaceX, OpenAI and Anthropic. This represents a rare clustering of very large initial public offerings in two of the most talked-about sectors of the decade: artificial intelligence and private space exploration. An initial public offering, or IPO, is when a private company lists on a stock exchange and its shares become publicly tradable. The most important point for

Owning a basket of great businesses does not always lead to diversified outcomes. When many of those businesses depend on the same market conditions, portfolios can behave far more similarly than investors expect. Quality investing is one of the most trusted long-term investment approaches. It focuses on companies with strong balance sheets, dependable profits and leading positions in their industries. These businesses are often well-known, widely used and form part of everyd

When investors talk about “making money”, the focus often falls on performance numbers alone. But returns don’t appear magically - every investment generates returns in a specific way, whether through interest, dividends or capital growth, each with its own risks and time horizons. Understanding how returns are generated is one of the most powerful tools an investor can have. It helps set realistic expectations, reduces emotional decision-making, and leads to better long-term

Most people know their loan is priced at “Prime plus or minus a percentage”. But what exactly is Prime? Prime is the standard interest rate banks use as a starting point when pricing home loans, car finance and personal loans. Your actual rate is then adjusted up or down from that base, depending on your risk profile. Prime is linked to the repo rate, the rate set by the South African Reserve Bank (SARB). Since 2001, Prime has been set at 3.5% above repo. This structure allow

Taiwan Semiconductor (TSMC) is one of the most important companies in the modern economy. It manufactures the tiny silicon chips that act as the “brains” inside smartphones, data centres, electric vehicles and the fast-growing world of artificial intelligence. These chips are built on ultra-thin silicon wafers and contain microscopic circuits that allow devices to process information and make calculations. TSMC’s ability to produce these chips reliably and at scale has suppor

“The best way to predict the future is to invent it” – Alan Kay When electricity first lit up a bulb, it dazzled the public. But that was just the beginning. Over time, it became the invisible force behind industry, transport, communication, and modern life itself. Today, Artificial Intelligence (AI) is at a similar inflection point. Tools like ChatGPT have flipped the switch and made AI visible to the world. But the real transformation lies ahead, as AI becomes embedded in t

In the ever-evolving landscape of personal finance and wealth management, investors are faced with an increasingly wide array of choices. In South Africa, the investment universe has many options, from unit trusts and share portfolios to retirement annuities and tax-free investment accounts. Each type of investment comes with its own set of advantages and limitations, and their effectiveness often depends on the investor’s goals, time horizon, and tax considerations. Navigati

When you invest in a unit trust or model portfolio, it’s natural to focus on the fund’s name, past performance, or the reputation of the...

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Recently, a relative gleefully sent through the pictures below to inform us that our upcoming US vacation would likely have a vegetarian...

On April 2nd 2025, President Donald Trump declared "Liberation Day”, unveiling a comprehensive tariff strategy that would apply to more...

We are often asked about Asset Swaps and Feeder Funds as the terms can be confusing. This article explores these concepts, terminology...

Remember Netscape Navigator? The company was the dominant web browser and search engine in the 1990s, later displaced by Google,...

Global events and investment market movements mean less than you think when it comes to successful investing The phrase “this time it’s...

In cricket, a power play refers to the restriction of the number of fielders outside the 30-yard circle of the pitch. Within the first...

On the first Friday of every month, the markets get ready to process the latest Employment Situation Report. The report is released by...

South Africa is set to introduce a significant reform in its retirement funding system with the implementation of the ‘Two-Pot system’1....

Every now and again something new comes along which changes the world. Until recently, Novo Nordisk, a 100-year-old Danish pharmaceutical...

Have you heard of TEMU? The online retail platform owned by the Chinese mega-company Pinduoduo is making aggressive inroads into South...