DAVID SHAPIRO: Poor old JSE stuck with beer rather than data
Bourse yields diminishing returns and, besides Naspers, can boast of no innovative businesses
If you’re feeling poorer, it’s probably because you are poorer. Maybe not in rand terms, but certainly in dollar terms.
If you had invested $100 in the FTSE JSE All-Share Index on February 12 2015 it would be worth $86 today, a loss of $14 over the five-year period. If you had invested $100 in the US S&P 500 Index over the same time it would be worth $161, a profit of $61. The difference in return between the two markets is a massive $75, or 87%.