ANALYSE THIS: Vestact’s Michael Treherne
We analyse Michael Treherne, portfolio manager at Vestact
If someone came to you tomorrow with R100m to invest in just one company, which would it be?
Naspers, the emerging market’s powerhouse Internet company.
Which talent would you most like to have?
The ability to speak fluently in more than one language.
What was your first job?
A storeman in a warehouse.
What’s your biggest regret?
Regret is too strong a word, more my biggest "what if". I went to a really small school, so I sometimes wonder how things would be different if I went to a bigger school.
What was your worst investment mistake?
Selling long-term investments to fund my trading account. This included selling Brait at R20 and PSG in the R30s.
What’s the best investment you’ve ever made?
Buying Amazon.com shares, when it was not certain if they could hold their own.
If you found a lottery ticket tomorrow that had won US$100m, what would you do?
A long international holiday would be the first thing on the cards and potentially buying an international property. I see myself continuing in my job but working less hours, using those extra hours to help educate people on investing.
Apple or Samsung (or Nokia)?
Apple, we own the shares so I have to back their leading product.
What’s your favourite song?
"Snow (Hey Oh)" by the Red Hot Chili Peppers.
On what occasions do you lie?
I normally tell it like it is. (Read — can be tactless).
Your greatest extravagance?
Travelling, seeing different cultures helps open your eyes to the world. Which helps you make better investment decisions.
Name a place you’ve been to that lived up to the hype.
New York City, it doesn’t sleep (apart from around
5 am-7 am) and walking around makes you feel
like you can achieve anything if you put your mind
If you could fix one thing in SA today, what
would it be?
Having studied economics I’m all about
efficiencies. I think the biggest inefficiency comes
through corruption, I would like to see corruption