Money will be spent in South Africa at the end of the day. But you only benefit from this by investing in a globally diversified portfolio – Attila Kadikoy of Levantine & Co.
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But along with that one has to also consider that once the client, the investor, the pension holder for example, is increasing returns in their portfolio, what does that mean for the economy in the long run? That means that purchasing power is going to increase in the long run. SIMON BROWN: And the simple theory there is that we are in South Africa. There will be tax on sales and the like. But, more importantly, that money will come back into the economy and be spent locally because this is where we are living.
SIMON BROWN: I take your point on that, and it goes back to your original statement right up front, which was quite simply that, as investors, we want to find the best place to invest. Now there are some great companies on our JSE, but we don’t want to be restricted to that. We want to be able to say at points in time there are great companies in the rest of the world, and it’s a big market out there.
That cycle ended in 2022 and now you have, let’s call it, a risk-free rate of almost 5% on the US dollar. That is the US government saying to you, I will pay you 5% per annum if you buy my Treasury bill or my bonds. That’s a substantial amount of return, even on fixed income now, that one cannot ignore.
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