You are correct, Roberto. Someone said that there are are two types of analysts. Those that don’t know what’s going to happen in the future, and those who don’t know that they don’t know what’s going to happen in the future.
Agree Roberto, happy to make a R1 million bet that S&P500 in rand terms will outperform the average performance of all active managers in SA over next 10 years. Growth component in S&P about 40% vs 30% value so this is what gives us index investors the balance we need, maybe in next 5 years that rebalances somewhat. I am still betting for the 500 largest companies in a functional country vs the 1% investable SA share universe giddy from a wonky GNU.
I think I’ve become a Peche groupie and couldn’t agree more, the ZAR feeder fund has done 90% in three years, that’s pretty good even when compared with the S&P 500 Satrix at around 51%, but there are big swings during in his portfolio if you can live with them
I remember at the end of 2022 when Sean and others like Cy and Piet thought that big tech was going to underperform in the next couple of years. They couldn’t have been more wrong.
You might also want to enlighten people to the mechanics of what actually moves stock prices. Most people don't understand that it's not anchored to fundamentals, but rather lofty and manipulated perceptions.
Executive pay is not only "out of whack" in the USA. SA has similar stories. Remember Sibanye CEO getting 100's of millions just before share price falled from all time highs (due to world events nothing to do with his supposed genius... Don't get me wrong, he is a top manager but that is what his normal, also ridiculously high, salary is for)? Executives these days run companies to extract as much loot as they can... The problem is there is no stick or countervailing risk for these glorified looters.
I remember at the end of 2022 when Sean and others like Cy and Piet thought that big tech was going to underperform in the next couple of years. They couldn’t have been more wrong.
You are correct, Roberto. Someone said that there are are two types of analysts.
Those that don’t know what’s going to happen in the future, and those who don’t know that they don’t know what’s going to happen in the future.
Agree Roberto, happy to make a R1 million bet that S&P500 in rand terms will outperform the average performance of all active managers in SA over next 10 years. Growth component in S&P about 40% vs 30% value so this is what gives us index investors the balance we need, maybe in next 5 years that rebalances somewhat. I am still betting for the 500 largest companies in a functional country vs the 1% investable SA share universe giddy from a wonky GNU.
Whenever Sean Peche speaks, I am always excited to hear his views
I think I’ve become a Peche groupie and couldn’t agree more, the ZAR feeder fund has done 90% in three years, that’s pretty good even when compared with the S&P 500 Satrix at around 51%, but there are big swings during in his portfolio if you can live with them
All these smart fund managers will not beat the sp500 .
Wish we could see the graphs
I remember at the end of 2022 when Sean and others like Cy and Piet thought that big tech was going to underperform in the next couple of years. They couldn’t have been more wrong.
Buffet has left instructions to invest 90% of his estate in the S&P 500 ETF. Sean has 20% in the US market. I go with Buffett every time.
I wish there was a way to measure the value destruction caused by pathological obsession with short sighted quarterly profits.
You might also want to enlighten people to the mechanics of what actually moves stock prices. Most people don't understand that it's not anchored to fundamentals, but rather lofty and manipulated perceptions.
Executive pay is not only "out of whack" in the USA. SA has similar stories. Remember Sibanye CEO getting 100's of millions just before share price falled from all time highs (due to world events nothing to do with his supposed genius... Don't get me wrong, he is a top manager but that is what his normal, also ridiculously high, salary is for)? Executives these days run companies to extract as much loot as they can... The problem is there is no stick or countervailing risk for these glorified looters.
How do you collect from your creditors and pay your debtors🤔 is Sean confused?
I remember at the end of 2022 when Sean and others like Cy and Piet thought that big tech was going to underperform in the next couple of years. They couldn’t have been more wrong.