DAVID SHAPIRO: One year from now, I will be glad I did not sell out of the JSE
When restrictions on social interactions are lifted, growth will rebound, helped along by generous packages the authorities have introduced, and markets should recover their losses
I joined the JSE in February 1972. The first few years of my career were spent clearing the imbalances that resulted from the frantic levels of trade that ended with a bang in October 1969. It was my first experience dealing with the consequences of a market meltdown, not knowing I was to encounter many more in the road ahead.
During the 1976 Soweto uprising the outlook for the country was so bleak there were days in which we did not record a single deal. When the market crashed in October 1987, clients who had beaten down doors demanding shares in new listings, unashamedly reneged on their commitments...