STEPHEN CRANSTON: Slow, steady and sure

It’s true that past performance doesn’t always repeat, but there is no doubt that bad performance persists far more than good

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STEPHEN CRANSTON: The active-passive line

It is not just active managers who are threatened by the growth of index funds

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STEPHEN CRANSTON: It’s hard to make the top fund managers list

According to Alexander Forbes, the list of the top seven fund managers — and even the order in which they appear — remains unchanged

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STEPHEN CRANSTON: The trouble with family businesses

It is hard to imagine who would have done a better job of building Anglo American than Ernest Oppenheimer’s son Harry

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STEPHEN CRANSTON: Old Mutual and Sanlam’s oh so different businesses

Old Mutual and Sanlam have facilitated the birth of two very different businesses, both of which reported results last week

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STEPHEN CRANSTON: Real expertise needed at life insurers

While Liberty’s relationship with Standard Bank gets more claustrophobic every year, MMI no longer supplies product to FirstRand

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STEPHEN CRANSTON: We all know her name — Magda Wierzycka

Wierzycka is naturally mercurial and not naturally patient, but she has brought professional management into the business

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STEPHEN CRANSTON: A recovery portfolio?

Investors should be able to cope with depressed returns for a year to 18 months before the turning point, when gains will be at their highest

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STEPHEN CRANSTON: Mutual funds are the people’s favourite

The biggest challenge for mutual funds over the next few years is bound to be exchange traded funds

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STEPHEN CRANSTON: Why SA needs to revive exports

There is still too much reliance on mining, even though its share of GDP has halved since 1994 to 8%

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STEPHEN CRANSTON: Jack Bogle’s blind spot

Bogle’s principal objection to exchange traded products was that they do not lend themselves to long-term investment; they are priced throughout the day ...

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STEPHEN CRANSTON: Markets that bewilder

So far it looks like financial markets still have a place in the SA developmental state

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STEPHEN CRANSTON: Off balance in 2018

Out of the 23 firms in the 'Manager Watch Best Investment View' survey, only four portfolios made positive returns in the 11 months to November

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STEPHEN CRANSTON: From A(jay) to Z(ondo)

There is no doubt that 2018 never lived up to initial expectations

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STEPHEN CRANSTON: When defensive shares are anything but

One of the worst-performing large caps was Mediclinic, which was down 37%, much worse than the 12.4% of the Capped Swix benchmark

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STEPHEN CRANSTON: The active-versus-passive investing debate

There is often more psychology than mathematics in active management

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