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Simon’s weekly wrap: Think before you invest

This week MoneywebNOW looked at MTI investors possibly having to pay back the money, Janet Yellen’s new role, investing in Tesla vs Exxaro, whether SA may continue to under-perform, and more.
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Mirror Trading International (MTI) collapsed late last year when the ‘founder’ disappeared with the only access to the bitcoin the company had received. There was a quick and successful court process to place the company into provisional liquidation and now liquidators want those who took money out of MTI to pay it back, both capital and profits. I spoke with Brandon Topham, divisional executive of enforcement at the FCSA (Financial Sector Conduct Authority), and he confirmed that this is common law in South Africa.

Tesla has been one of the hottest investments over the last few years and certainly its technology is world class. But investing is not just about the story: valuations and the price you pay also matters. I spoke with Lee Cairns from Anchor about his suggestion that while Exxaro may be old school and boring, it actually offers a better valuation and hence investment over the next few years.

One of the features of 2020 was a weak US dollar and the question is if this will continue into 2021? I asked Izak Odendaal of Old Mutual Wealth what its view on this is. I also asked about SA as a perennial under-performer and whether we could get things working in 2021. Odendaal suggests tax receipts may actually come in ahead of expectations. Certainly that would be good news.

Our finance minister was the central bank governor before becoming finance minister and Janet Yellen is traveling the same path in the US as President Biden’s has picked her to be the US treasury secretary. I asked Adrian Saville from Cannon Asset Management what we could expect from her in this new role, as in this job she has a clear boss, the president, who will set the agenda.

Also this week:

Dino Zuccollo, chair of the 12J Association of SA, discusses where we are with Section 12J currently

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