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Magda Wierzycka grills the JSE on investor protection

This ‘monopoly’ must review its regulations.

The JSE’s recent annual AGM was a heated affair and for good reason. Magda Wierzycka, CEO of Sygnia Asset Management, clashed with the JSE, saying particularly that listings on the biggest bourse on the continent are becoming questionable. Wierzycka speaks to Arabile Gumede on the Classic Business Breakfast with Moneyweb about the JSE’s responsibility to protect retail investors. 

 

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Anyone think the words self serving come to mind?

I dont care what her motive is. Investors desperately need more people interrogating the status quo at all companies. Only then can we can avoid the Abil’s, steinhoff’s, eoh’s, conco’s etc that are wiping out billions of rands in value with little to no consequence for those who are guilty. Go Maga go.

Another thought. Why is a passive investing company having to be so vocal. Where are all the specialist active managers. I hear nothing from them. They simply swallow up whatever these boards serve them. Truly useless.

Well done Magda…

..mmmm some self serving minds…..

” I have seen a few” it starts with JCI, TSEC, Investec, Randgold, Western Areas, KPMG ETC………but methinks, things
could now change for the better in years to come with the ”Benoni Boytjie”and Russel gone, as they could not see the wood for the trees reach the correct decision, on the above issues.

Nicky, the ball is now in your court!

So it was ok when she made billions trading common stock? The same stock she now has an issue with?

Not sure the JSE is the problem

That is like blaming the race track for the bets people make at race tracks.

IMO our problem is who makes capital allocation decisions nowadays and that problem lies squarely in the fund management industry. In the theory of capitalism investment decisions are made by people with informed opinions, usually based on experience.

Based on the rumor mill, the guys that privately lost north of 100 million on Steinhoff are the who’s Who of the fund management industry. I have heard of over R3,000,000,000 losses across five famous/infamous investment geniuses.

When Enron and Lehman and Worldcom went south, the US did not blame Nasdaq or NYSE.

Magda, how about you improving the unnecessary two working day delay time between a trading day’s closing figures and updating the unit trust and ETF values on your Signa Alchemy platform before pointing to other’s inefficiencies. This delay time is 50% worse than that of other retail platforms.

End of comments.

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