2002 :

• 4th Quarter 2002: Never underestimate the importance of real returns
  Many South Africans have become accustomed to periods of high returns, particularly in the domestic market. This has often created an expectation amongst investors that these periods of high returns will continue in the future. However, investors have tended to focus exclusively on these nominal returns (disregarding the prevailing inflation rate) rather than on real returns. Simply put, real returns are those returns, after having allowed for the deduction of inflation. [ More... ]
  

• 3rd Quarter 2002: How much longer is the fat lady going to sing?
  The old adage "It ain't over 'till the fat lady sings" is perhaps appropriate when looking at the current state of global markets and the world is beginning to wonder when she is likely to take a bow and move off centre stage. In the last six years there have been five crises that investors have had to contend with. [ More... ]
  

• 2nd Quarter 2002: The bruised and battered Rand makes a partial recovery - is it sustainable?
  In January 2002, the SA Reserve Bank surprised the markets with a 1% increase in the Repo Rate. In line with expectations, the Monetary Policy Committee increased interest rates by a further 1% at their meeting in March 2002. [ More... ]
  

• 1st Quarter 2002: Is all that glitters, gold?
  There have been two interesting developments since our last report (as at 31 December 2001). The first has been the partial strengthening of the Rand, the second being the steady rise in the gold price over the past two months. [ More... ]