GTC Trendline – Second Quarter 2024
Overview
Last year in our Market Reports and other thought-leadership articles and interviews, we focussed on the theme of global volatility in markets. Earlier this year we wished for a boring investment environment, last quarter we wondered if there actually was any prevailing investment themes emanating. Right now we’re still excited about the novelty and seeming progress of our new national animal, the GNU. We’re looking for new brooms to sweep clean(er). We’re looking for ministerial laggards to be taken to book. We’re anticipating state capturers finally facing some justice, and we’re optimistically hoping for better news on so many other fronts. Corruption, economic purpose, municipal delivery, and lower interest rates are all jumbled up ingredients in our investment-perspective mixing bowl.
In the context of a world still experiencing so much upheaval, and conflict, South Africa currently looks to have the potential to shine a light. Our markets remain stable, our currency too. We’ve just gone through free-and-fair elections with resultant (significant) change occurring (hence the favourable response from the markets). It is with some considerable anticipation that we look forward to the rest of 2024, at least from an investment perspective. We eagerly await what quarter three will deliver.
Trendline articles are almost always authored by GTC staff. With one exception (Dave Johnson an independent trustee has written on Two-pot), this continues to be the case. A little different from previous publications, the opinions expressed in some of these articles is not necessarily an official GTC stance. These slightly deviating stances have been included because the topics of Two-pot and NHI are so complex that no single opinion can prevail as being the definitive one. If you’re in doubt as to GTC’s stance on any of these matters, please drop me a line.
