At time of writing, the rand has breached R19 to the dollar, there’s not much electricity in these parts and the Nasdaq-100 has added more than 21.5% year to date.

The JSE Top 40 is up 5.7% this year, but that return is measured in a currency that is more fragile than wet single-ply toilet paper. What a time to be alive. Things have changed completely from the narrative at the end of 2022, when the market couldn’t stop talking about the cheapness of South African equities and the major drawdowns suffered by US growth investors. ..

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