MARC HASENFUSS: More market ructions, if you please
I could do with a few more opportunities for bargains such as the market upheavals Trump’s actions brought about this week
So, that’s how many market shake-outs that I’ve lived through? I just missed Black Monday in 1987 — with such an epoch-making event hardly registering in my circle of acquaintances as we were in panicked preparation for year-end exams in Grahamstown. That would mean I have experienced six significant market corrections, counting this week’s Manic Monday and excluding some of the more “regional” and less impactful flash crashes over the past 40 years.
What have I learnt from these ructions? Probably that it’s always worth buying a constellation of high-quality, cash-generating assets such as Remgro (Rembrandt, back in the day) at a knock-down price — even though this week my preferred “dip flip” was Sasol, which skulked under R55 in early trading on Monday. In truth, anyone who bought into any number of large- and mid-cap stocks early on Monday morning would have been grinning broadly at market close...
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