ANALYSE THIS: FNB’s Chantal Marx
We analyse Chantal Marx, head of investment research at FNB Wealth & Investments
If someone came to you tomorrow with R100m to invest in just one company, which would it be?
Hopefully my holding period will be very long. Mr Price. I can see it still doing its thing 100 years from now.
What’s the wisest thing you could tell your 20-year-old self that you didn’t know when you started out?
Everything is not about you. Don’t take things so personally. Actually I still need to hear this sometimes.
What was your first job? And can you remember how much you were paid?
My holiday job in high school was working as a receptionist at my dad’s practice for R50 a day.
If you could fix one thing in SA today, what would it be and how would you start doing that?
Restoring the trust deficit between government, business and society. It’s the only way to restore confidence (business, investor and consumer) to boost economic growth. We need common goals — I think this is what the president was trying to do by putting forward the five goals for the next decade.
Who do you admire in the investment community, and why?
Locally, I am a huge fan of Bright Khumalo. He is young, super smart, driven, health-conscious and super interesting. He is also one of the funniest people I have ever met.
Facebook, Twitter or Instagram?
Instagram. It is a much more uplifting platform. Don’t get me wrong, I am addicted to Twitter — but it has a very negative energy which I don’t find on Instagram. Facebook is basically spam at this point.
What’s the worst investment mistake you’ve made?
I got into the mid-cap space a few years ago and held on to a few sinking ships a little too long (selling is always the problem).
What’s the best investment you’ve ever made? And how much of it was due to luck?
Difficult to believe in this climate, but it is my primary residence. We bought a fixer-upper in an up-and-coming neighbourhood and so far it’s gained in value quite nicely.
How do you control your emotions, when all you want to do is sell or buy a share, but you know you shouldn’t?
Stick to the numbers and determine entry and exit levels well in advance of pulling the trigger. Selling is the most difficult part and it is often painful to sell something and see it run an additional 5% or 10% after you have made the call.
What is your greatest extravagance?
Clothing. I spend a big chunk of my disposable income (after saving, of course) on beautiful clothing. Nothing brightens my mood like a brand-new dress.
Big Tech or old-fashioned industrial stalwart?
SA or offshore?
Obviously offshore exposure is vital, but right now I’m leaning towards SA. From a valuation standpoint I see opportunity here.
How much of a portfolio should be for the wildcard picks?
Within equities — probably 2%-5%.
If you weren’t a fund manager/ analyst, what would your dream job be?
Definitely in entertainment — either theatre or television.