On The Money
STUART THEOBALD: Pessimistic domestic investors have cause for pause
I am often asked to sense-check SA investors on the outlook for local markets. Domestic investors notoriously suffer irrational pessimism. I often hear foreign investors complain that if they want to get a good sense of how SA is looking, the last person to ask is a local.
We South Africans tend to sport an ingrained cynicism, inflamed and encouraged by those who make their money selling offshore investments. It is also influenced by myopia — the tendency to be overly influenced by what is most obvious, but thereby missing the bigger picture. During load-shedding and water outages it is understandable to think you should don your veldskoens and run...
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