We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

Money and value are two different things, although you could be forgiven for thinking differently, as the line that divides them becomes increasingly blurred. Nevertheless, the challenge is to differentiate between enduring and transient value, and how to create, distribute and store it. We’ve seen a sustained period of increasing values for stock market listed companies, practically unbroken since the financial crisis of 2008/2009. There have been variations around the theme, across markets, currencies and geographies, but it is clear that technology-based, particularly consumer technology-based companies, have primarily been responsible for the increase in index values, accompanied, until fairly recently, by their trusted companion, financial services (they join in, whatever is leading the charge). I don’t think it’s going to last much longer. The new valuation metrics don’t reference any past achievements. It’s about the future, unbounded expectations. It’s about “client acquisit...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now