MARC HASENFUSS: Important to pick right tent in a political storm
I could kick myself. Not because I let my wife book a campsite in the backwoods over Easter, but because I fluffed a golden opportunity to snag some well-priced shares in JSE Ltd.Shares in the JSE — very much like the-tent-that-Marc-erected — have unceremoniously folded into a depressing heap. At the end of June last year the JSE was at a high of R185, but earlier this month had sagged to a 12-month low of R123.I have been an admirer of the JSE as a specialist financial services company. I enjoyed the saga, some years back, when Jannie Mouton’s PSG Group (which knows about smart investing) accumulated a significant minority stake in the JSE.PSG unsuccessfully challenged the regulatory limit that restricts the shareholding of a single investor in the JSE. It was fun while it lasted, and PSG’s efforts highlighted the attributes of the JSE — in particular that the company operated as a monopoly.Technically speaking the monopoly is no more since new stock exchange licences have been iss...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.