ANALYSE THIS: SBG Securities’ Marc Ter Mors
We analyse Marc Ter Mors, head of equity research at SBG Securities
If someone came to you tomorrow with R100m to invest in just one company, which would it be?
Johnson & Johnson, a US-listed multinational pharmaceutical firm with a compelling oncology and antimicrobial research & development pipeline. The Johnson & Johnson R&D aim is to develop new antibiotics for "superbugs" which are believed to be spreading faster and wider due to climate change.
Which talent would you most like to have?
A knack for storytelling — a great tradition across Africa.
What was your first job?
Dishwasher at a hospital, to fund a moped.
If you could fix one thing in SA today, what would it be?
I would implement well-managed immigration processes and an appealing investment-orientated taxation regime, such as in Canada, the Netherlands and Australia — to advance a knowledge-based economy. What I would most assuredly not change is the independence of the SA Reserve Bank. Having a nonindependent reserve bank was common practice across the 28 countries that had hyperinflation in the past 30 years, decimating citizens’ earnings and savings.
What’s the best investment you’ve ever made?
Taking my parents’ advice to focus on education, and emigrating to SA in 1992.
And the worst?
Two investments went to zero — a share in a Dutch-themed pub called De Poort Van Amsterdam in Illovo, and a racehorse which we donated to a stable.
What’s your favourite song?
Depends on the mood — The Healer by John-Lee Hooker and Carlos Santana comes to mind.
What was your last purchase?
The latest Garmin Descent dive computer and smartwatch. Personal telemetry at its best.
On what occasion do you lie?
Occasionally when my children ask for cash beyond their pocket money for something extravagant.
How much was your first pay cheque and what did you do with it?
5,830 Dutch guilders, which were replaced by the euro in 1999. Diapers for our daughter, and I started paying off a mortgage — the earlier in the property market, the better.
Name a place you’ve been to that lives up to the hype?
The old Aztec city of Teotihuacan in Mexico, a vast archaeological complex where some of the best and worst moments of mankind played out.
Do you own bitcoin or any other cryptocurrencies? Why?
Not yet. Though cryptocurrency supply is controlled by software rather than reserve banks (hopefully independent), there is unlimited supply of such tokens from emerging new platforms. However, I am a big fan of Standard Bank’s UCount rewards programme.