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Portfolio construction amid rising global inflation

Taking money offshore may be popular, but, at present, South African opportunities are still more attractive.

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Taking money offshore may be popular, but, at present, South African opportunities are still more attractive.

While the uncertainty has increased and the range of outcomes is greater, the long-term opportunity remains, with Netflix still being the clear market leader in an industry with strong structural tailwinds.

While economic recovery challenges still abound, the likelihood of South Africa tumbling into a debt trap within the next five years has, thankfully, diminished.

Netflix’s scale, ongoing product innovation and strong execution set the company up well for sustained leadership in an industry that continues to shift online at accelerating pace.

‘In the midst of every crisis, lies great opportunity.’ - Albert Einstein

A disciplined approach delivers over the long term

But SAGBs might still fare better than expected

Long-term thinking and rigorous research needed to spot opportunities.

An attractive new add to our portfolios.

An attractive, growing sector in both Eastern and Western Europe.

It’s not just about Tencent, games and China

Understanding the risks and return opportunities remains crucial

Global Frontier Markets

Cheap insurance at a time of heightened risk

Finding value in complexity

“Your perception may not be my reality.” – Aporva Kala, author and philosopher

Promising long-term growth seen in emerging equity markets

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A growth opportunity in the lacklustre retail space

Good intentions and a renewed commitment to growth are not enough to make government's financial position sustainable

Bloated merchant acquirers face disruption in the Brazilian market spac

Bloated merchant acquirers face disruption in the Brazilian market spac

A chance to add good quality domestic businesses to your portfolio

South African investor heaven or hell?

“The margin of safety is always dependent on the price paid. It will be large at one price, small at some higher price, nonexistent at some still higher price.” – Benjamin Graham, The Intelligent Investor

“When the world is running down, you make the best of what’s still around.” – Musician and actor, Gordon Sumner (aka Sting)

A butterfly flaps its wings in Wuhan, China

What did this programme really achieve?

A weighty issue?

But depressed growth and further Eskom support weigh heavily on government

The price is right (or at least it feels that way)

Cable operators leading US broadband internet momentum

IPO learnings from frontier markets

Inverted yield curves, negative bond yields, liquidity everywhere and not a drop to drink

When desirability becomes necessity

Offshore acquisitions by domestic companies

How sports content (and fast cars) became frontrunners in the media content race

“Invest for the long haul. Don’t get too greedy and don’t get too scared.” – Shelby M.C. Davis

Where the frontiers of consumer need, technical innovation and pragmatic regulation meet

Reflecting on a tough year

But South African bonds still offer a bulwark against global policy normalisation

But overcoming deeply rooted economic problems remains challenging

Reaping the rewards of pension reform

China’s competitive education system drives strong growth

How companies avoid obsolescence through innovation

Despite new vehicle technology, global car sales still drive demand

Spotify and Apple Music lead the revival of the recorded music industry

The value of proprietary, deep-dive research

A homegrown success story

Thriving in a highly regulated industry

Earning its stripes

What you see is not always what you get

How worried should investors be?

What now that the kings are gone?

Valuations are high and uncertainty is increasing

The next generation of big bets

Well positioned in an evolving environment