I recently had a series of institutional client meetings and have updated my data points. Given the heady moves in the JSE small- and mid-cap indices, many may not be aware that it was exactly on June 10 that both started rallying.

Year to date the J202 small-cap index is up 17.6% and the J201 mid-cap index is up 5.21%. However, that does not tell the true story. If you’d bought both indices on June 10, to date you’d be ahead 17% in the small-cap index and 10.4% in the mid-cap index, showing how much timing matters...

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