Marc Hasenfuss Investors Monthly editor, writer & columnist

It’s always fun reminiscing about days gone by on the JSE, and I enjoyed penning the feature on the Class of 1987 listings (see page 14). Just a few months into my first job at Business Day — where I covered the automotive and transport beat — I already considered myself a bit of an expert in share-picking.

So just before I was shanghaied into two years of national service in the navy, I urged my mother to drop a good portion of her life savings into a sure-fire winner called Spareco. With a burgeoning taxi sector and an ageing car pool, I was convinced Spareco would be a reliable engine for earnings generation. Imagine my horror when a few weeks into basic training I chanced upon an Afrikaans newspaper’s business section, emblazoned with a headline that Spareco’s engine had seized up.

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