Steiniversary

  Market Scorecard Today marks a year since Steinhoff blew up, I (Michael) remember the morning clearly. We heard news overnight that the directors had a meeting in Germany and that Markus Jooste had stepped down as CEO. The whole Vestact team was in early to discuss what to do next. The decision was taken … Continue reading Steiniversary

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Turning The Tiger

  Market Scorecard Did you get your Black Friday fix over the weekend? Seeing videos of people stampeding into Games and Shoprites, I'm surprised that there haven't been more serious injuries. People buying things they don't need, with money they don't have, all to fill the urge to buy something at a massive discount. Some … Continue reading Turning The Tiger

  To market to market to buy a fat pig. Yesterday the S&P 500 hit another record. No not another record high but the most number of days without a 3% drawdown. The previous record was 241 days and was set in 1996. It is amazing how calm markets have been this year. In years … Continue reading