When I started my investment career more than 2½ decades ago, I could not even spell chartered financial analyst (CFA); a few years later, I was one myself.

I still have fond memories of those days at Old Mutual in Pinelands in the mid-1990s: only a few pioneers of the SA asset management industry had managed to obtain the CFA qualification at that stage. But this changed soon enough: by the turn of the millennium, it seemed like every fresh-faced analyst (including yours truly) had joined the rush to add those coveted three letters to their CV...

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