ANALYSE THIS: Sasfin Asset Managers’ Errol Shear
We analyse Errol Shear, fund manager at Sasfin Asset Managers.
If someone came to you tomorrow with R100m to invest in just one company, which would it be?
One should never invest all of one’s money in only one company, unless it is one’s own business. However, if one had to choose one company it would have to be Amazon, given the way it is disrupting traditional retail practices and dominating so many markets. Not cheap, by any measure, but a great business.
Which talent would you most like to have?
What was your first-ever job?
My first job was working in my grandparents’ hotel and bottle store in Uniondale, doing the banking, serving in the bottle store, packing shelves, bottling wine and much later on using the cash float for investing.
If you could fix one thing in SA today, what would it be?
Education. Without an improvement in education we cannot hope for greater prosperity. This may take a generation to fix, but the sooner we start the sooner it can be fixed.
What’s the best investment you’ve ever made?
Buying SA Breweries shares for 69c with a 10% dividend yield.
What was your worst investment mistake?
Not investing in Amazon at the right time.
What’s your favourite song?
"Hallelujah" by Leonard Cohen, even if his voice was as gravelly as mine.
On what occasion do you lie?
I find it easier to tell the truth or just keep quiet if the truth may hurt.
What is your greatest extravagance?
Travel. As a family, we like to choose a new place to visit each year, last year was Havana, the year before was Machu Picchu and the year before was the Himalayas.
Apple or Samsung?
I have used Apple and Samsung, and found limited differences between them.
Name a place you’ve been to that lived up to the hype.
Jerusalem: for its history, culture and beauty.
What’s your biggest regret?
I have no major regrets; even disappointments in retrospect were for the best.