Marc Hasenfuss Investors Monthly editor, writer & columnist

One of the biggest investment clichés is that "the market is never wrong". What utter bull-twang! The market can get it very wrong, and these days there are numerous examples of a cynical market drawing dire conclusions that defy the narrative on a balance sheet or the body language of influential shareholders.

I can understand, with the veil of negativity that has hung over the JSE for so long, that optimistic outcomes are easily dismissed. It reminds me of the 1980s, during a trying time for the local automotive sector, when I wrote a speculative article on an international company set to pounce on a struggling but well-known component maker...

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