JAMIE CARR: South Ocean battling to stay above water
Radiant Group has chucked in a loss of R51.1m, which is just a squeak short of South Ocean’s market cap
When you’re looking to build a portfolio of investments that will give you steady returns over a long period, the approach should be Long Island iced tea rather than dry martini. You need to splash in a bit of a variety of asset classes to avoid too much exposure to equities, whose volatility can lead to far too many sleepless nights. The classic endowment approach involves a healthy quantity of real estate, venture capital, bonds and absolute return instruments to insulate the portfolio from the short-term fluctuations of the market. The problem for the ordinary punter aiming to replicate this approach is that these asset classes tend to be illiquid, and the managers have no interest whatsoever in catering for rats and mice. If your wallet is insufficiently bulging to get you in the front door at a manager like Ethos, a listed entity such as Ethos Capital starts to look interesting as it will give you some access to private equity exposure in a freely traded vehicle. Ethos is the l...
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