Financial Planning Markets & Equities

How and when to rebalance your portfolio

I am confronted with the question on whether rebalancing a portfolio is really necessary quite often by my clients. I normally use the theory of displacement (the simple version) to explain to them why it is done. By placing an object into a container filled with water, the water level will rise, because the object […]

Equity reports


Sanlam recently released their full year results for year ended 31 December 2017. Normalised headline earnings per share grew by 18% to 480 cents per share, the dividend per share increased by 8.2% to 290 cents per share and the group achieved a return of 14.8%(11.8% 2016) as measured by return on group equity value. […]

Markets & Equities

Do local shares still offer value?

During the last 12-months, we have heard that international markets were enjoying high tide, especially since the MSCI World Index grew by 17% in USD-terms (up to the end of February 2018). We also heard that our local market was enjoying high tide, thanks to 17% growth in rand-terms over the same period. So, while […]

Markets & Equities

7 Useful Guidelines for Successful Investing

In a recent investment report in the CFA Institute’s Financial Analysts Journal, John Bogle gave his seven investing guidelines for successful stock market investing. He wrote:  The Investor’s Perspective Most of my books, essays, and speeches have focused on what I believe are the best interests of investors—the human beings whom we are all doing […]

Trading Updates

Sector Highlight: JSE Mid Cap Index

The JSE Mid Cap Index moved 0.67% higher yesterday as it moved closer to its all-time record high at the 76 977 points level. A bullish candlestick was formed yesterday because the index price closed higher than it opened. Three bullish candles occurred in the last three days. Although these candles were not big enough […]

Trading Updates

Trade Spotlight: MTN Group (MTN)

Could this be the start of the next meaningful rally for MTN? The share price of multinational telecommunications group MTN gained 3.89% on Wednesday to retest the resistance at the 13450c level. The share price is trading within a narrow symmetrical triangle chart formation. Should the share price break out and close above the resistance […]

Financial Planning

PSG – Bigger Picture Thinkers

Our advert tells the story of the 1955 Mille Miglia, an Italian open-road endurance motor race of close to a thousand miles. By moving beyond mechanics and realising the critical importance of navigation, British racing car driver Sir Stirling Moss and his navigator, Denis Jenkinson, considered the bigger picture. They used an innovative new navigational […]


It’s now or never, according to the Misery Index

From a young age, we are taught to measure things. If you can measure it, you can manage it, right? Long before my daughters went to school, we used to ask them how much they loved us. They used to stretch their arms as wide as possible and reply: “This much, Daddy.” In the same […]

Markets & Equities

A market bloated like an elephant?

Following an action-packed week in investment markets, I would like to quote a few passages from Johan Godfrey Saxe’s famous 19th century poem, “The Blind Men and the Elephant”. It starts with: “It was six men of Indostan To learning much inclined, Who went to see the Elephant (Though all of them were blind)”   […]