Amazing because Morkel Steyn was the chap who managed the sales teams and travelled the country telling brokers to invest all their clients money into this scheme! Why would he now turn against Pickvest? Perhaps because he is still in Bloemfontein running other schemes and he wants to look good to get clients to invest into his new scheme? Ryk investigate this?
The Chamber must go to court to have it thrown out.Then start the conversation from a sensible perspective.Why negotiate on something that is at best nonsense.
This model is not sustainable and is merely politicking on steroids.
EVERYBODY who can use a computer should be using robo-advisors in future.
The older traditional South African institutions like Sanlam and Old Mutual and their subsidiaries are going to have a very hard time coming to terms with this because of their business models, but robo-advisors are something that is very long overdue in the information age.
The key about robo-advisors is that it will present perspectives on the information that it has available and different advisors will apply different algorithms to propose the "best" options which will obviously still be skewed based on affiliations.
This will eventually trend towards objectivity because all that will happen is that users will be able to sit at their PC and compare proposals from different advisors and then most likely select the common options which will be see an being more "objective" than the outliers.
As I sit her right now, I have my own "robo-advisor" that I have set up which was originally an excel spreadsheet but which I have now set up to automatically draw information about investments from the internet and apply the criteria that I have determined to be the best for me.
It updates daily and costs me nothing.
Probably the most bizarre comment on MW this year. What evidence or reasonable articulable suspicion do you have that Australian mining companies want to kill South Africans for weekend sport?
The issue is one about mining licenses, security of tenure and defamation of character by left wing activists to further their own nefarious goals. This is the way the left work: their basic premise is that if you don't agree with them you are a bad person. There first line of attack is character defamation.
This is my message to the ANC:
I am not a supporter of your destructive economic policies, your inaction against corrupt leaders and your continuous blaming of apartheid for things that go wrong as a result of your policies.
HOWEVER, I do believe that you can turn it around and although not a supporter of your party I do believe you can regain the trust of many, turn SA around and ultimately benefit the country as a whole.
This will only be possible, if you ensure that the party is lead by a strong capable leader that will put South Africa first. This will imply immediate removal of corrupt and incapable leaders, reforming of many policies, consulting industry including views from opisision parties, demonstrating appreciation for ALL tax payers (irrespective of color), privatization of many state entities, etc.
If this is too much of a request, the ANC will continue down the path of self destruction.
You can't blame Zwane. No one taught him economy 101. He clearly does not understand that mining (like all other private businesses) needs to thrive, being able to be competitive and generate profits to survive (and subsequently keep providing jobs for all its workers irrespective of color).
These are the basics mr Zwane. You cannot compromise these at ANY cost.
But don't forget, this is part of Radical Economic Transformation, which translate to "ANC longer in power & longer secured income
(for a few elite leaders) via looting of state resources". Obviously, all of this at the expense of the poor and South Africa's economy (but who cares).
Mkhwebane's answers to questions 1 to 5 - Hell no! Of course not.
Mkhwebane's response to statement in 6 - So! What's that got to do with me?
Mkhwebane's response to statement in 7 - I don't comment on the staffing and functioning of other state departments.
Public Protector? Please, don't make me laugh!
Best news for the week.
The dark clouds seem to be moving away from Eskom.
Maybe with new management South Africans will afford electricity prices again, the economy and the tax payer stands a chance to survive.
A very informative article. A few additional trends would also be useful, such as:
1. Cost of running the government expressed a % of GDP
2. Emigration vs immigration (skilled and unskilled)
3. SA's relative global competitiveness
4. Business start ups vs closures
5. Entrants into the job market and rate of absorption
6. Regsitered taxpayer ratio to total population
7. All these trends compared with BRICS
There are others too but the point is being well made. We are not looking pretty. Time the electorate wakes up and realises that this is what happens when their vote can be bought with a free T-shirt and a couple of struggle songs ....
Great article Ryk. The parasitic practices of Eskom should be discussed in a national debate. As you state, this looting can't be allowed. The criminal board of Eskom is pricing themselves out of the market. Under the previous government we had the cheapest electricity in the world, now Eskom is the most expensive.
This Eskom parasite has long, wiry tentacles that reaches into every building in the country to suck the life out of the economy and food off our tables. The worst of all is the fact that NERSA is protecting and enabling this monster.
The ANC is looting the country through Eskom. We need a new revolution to free us from Eskom. Electricity Freedom Fighters stand for the privatization of Eskom.
Good lord, where does the incompetence and corruption end?
What business does she have making recommendations to change the constitutions in any capacity, especially with respect to the reserve bank?
Surely she has her hands full with the dozens of high profile corruption charges floating around.
This article is so typical of socialists. To have a cluster of excellence in a third world cesspit is not acceptable. Everything must be a socialist utopia with income equality and free everything for everyone paid for by the tooth fairy. One thing is certain about socialists is that it is all about equality of outcomes. Not equality of opportunity but outcomes. Profit and market economic are bad and more government interference is the solution.
Of course to demonstrate her point she uses a false analogy with apartheid. By implication, if you don't agree with her model, then you are an apartheid supporter and thus an evil person. The issue is in the bad old days the colour of your skin dictated where you lived. These days it is your income and where you choose to live. A big difference.
I would give this article 0/10.
This amounts to racism. I am a white person, who always believed and voted for equal rights. This is my story.
I studied hard at school to get a bursary. The bursary did not pay for everything, so I had to take a job as well, at night. Often I studied while doing the job. I worked hard to get through university, and started working on a salary that was way below minimum wages. Most of it was used to pay my car, the insurance on it, and the petrol to get to work and back. I stayed in a caravan. None of this stopped me, I worked 16 hour days. I continued to learn, and when I was able to get the internet, further advanced my knowledge. Over time I was able to better myself, and my situation. I was able to buy property. In my free time I renovated my house, myself. I lived frugal, and never went on holiday. I continued this, working during the day, selling and buying properties in my free time, never going on holiday for nearly 20 years. Today I have a good house and car, paid for in cash, with free money to do the things I like. And now this man says it's because I'm white?
Malema says: "We need the state to say that all of this land in the country belongs to the state and must be allocated back to people".
If this lunatic ever gets into power it will be the end of this country.
Oh ja - And then after providing the highest median income the mines also have to provide free work clothing, housing, medical, life insurance, pension, and a 3 to 4 week holiday. And they claim poverty and strike for more!!
As a Forex trader you don't need to worry about paying taxes. The only good thing about trading Forex is that you only pay taxes on profits. The only guys involved with Forex who pay taxes are those who supply the trading platforms.
A person that ask about the tax implications of trading Forex hasn't been trading Forex for very long.....
Just to say that we understand why folk leave this beautiful country, indeed one could find hundreds of reasons every day with very little effort - security, education, social security, for the sake of their children to name a few. I have been fortunate to travel and work in a number of overseas countries including all the favored destinations for those embarking on the so-called "chicken run" - including Australia. Ironically my wife and I chose to stay - for the sake of our children who lead an enviable life style here in the eastern cape. We are happy and content despite the political upheaval. We understand that this is the nature of choosing to live on this continent. There are risks for sure. But we believe that in staying, we can make a difference - both of us being involved in education which, let's face it, is after all the only thing which is going to save this country and, indeed, this continent at the end of the day. Sure many of us could pack for Perth but we choose not to.
Your constant looking back trying to justify whatever it is that made you relocate as well as your incessant drivel whenever there is opportunity to point fingers is really not appreciated by those of us trying to make a difference. You chose to leave and that's fine. We choose to stay - hopefully you are ok with that? If you keep looking back how will you ever move forward? We are sorry to see you go but please take this - and the advice of many others who have responded to you in the past and cut the cord. Once and for all.
and the big 4 wonder why they become the "client cow" for Capitec, it's just a matter of time and Capitec will have complete control over the 10% of the 33 million bounced debit orders @ R5,...clever,..thinking ahead.
When Amazon/Tesla/Netflix etc invest for the long term they are praised, when Naspers does it they get crucified. Fact is, Naspers has matched Amazon share price performance in dollars since 2000. If you don't like what they are doing, sell the shares and go buy Tencent directly, it really isn't that difficult.