Global Markets – 1st quarter 2008 : Electricity – now a rare commodity in SA?

“Load shedding” and “blackouts” are words now used with frustration on a daily basis in South Africa. Nobody is immune to these frustrations and none can escape them. Most of us have a “load shedding” table handy at all times, having learnt how to make sense of them in a hurry. It wou
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Global Markets – 4th quarter 2007 : Standard Bank – what’s the deal?

The market was caught completely by surprise in late October when Standard Bank announced that a 20% stake in the bank was being sold to the Industrial and Commercial Bank of China (ICBC) for R37bn or R120 per share. Most people in South Africa are unlikely to have ever heard of the I
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Global Markets – 3rd quarter 2007 :Inflation – a daily reality

We have all felt the impact of rising prices recently, most especially when filling up at the petrol station or shopping for groceries. This stands to reason as food and transport costs are the two largest components of the “inflation basket”, making up 28.62% and 15.20%,
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Global Markets – 2nd quarter 2007 : “TER” explained – what it is and why it’s a good thing

You may be asking yourself what “TER” is and, more importantly, what it means to us as investors. “TER” is the acronym for “Total Expense Ratio” and it came into effect on 1 May 2007. The “TER” of “a portfolio is a measure of the p
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Global Markets – 1st quarter 2007 : China powers ahead – but at what cost?

In 2006 the Chinese economy grew by 10.7%, which is the highest growth rate recorded since 1995, when growth of 10.9% was recorded. The main drivers of growth last year were investments and exports. After four consecutive years of growth above 10%, the government has been concerned ab
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Global Markets – 4th quarter 2006 : Uranium or oil – which will dominate as the primary energy source in the 21st century?

I recently read an interesting article about the development of nuclear energy in China and India, which I have tried to summarise in this report for your interest. Currently the energy consumption of each of these countries is about 1/30th of that of the Americans and about 1/20th of
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Global Markets – 3rd quarter 2006 : Is the domestic interest rate party finally over?

Isn’t it astounding how suddenly things can change? Although we hinted at a potential increase in domestic interest rates in our last quarterly report, most analysts were not expecting the interest rate increases to commence as quickly as they did. The Reserve Bank increased the
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2nd Quarter 2006: Global Markets 2nd quarter 2006 – The Power of Four

Few of us, perhaps, give much thought to the enormous responsibility shouldered by just four men over interest rates in the four largest regions of the world and the potential impact of these decisions on the global economy. These men, who need little introduction, are Ben Bernanke, T
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1st Quarter 2006: Global Markets 1st quarter 2006 – The Bull Run in Domestic Equities Continues – But, For How Long?

At the time of our quarterly report at the end of February last year the consensus view was that equities would be the asset class of choice for 2005. However, many of the fund management houses cautioned that the “easy money” had already been made. At the time, this was (
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4th Quarter 2005: Global Markets 4th quarter 2005 – A New Chairman for the US Federal Reserve

The world speculated all year about who would succeed Alan Greenspan as the new Chairman of the Federal Reserve at the end of January, following his 18-year tenure. Speculators had narrowed the field of candidates down to 6 and then to 4. The favorite was Bernard Bernanke (Chairman of
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