In The Press

As published in Business Day on 23 June, 2021 by Pieter Hundersmarck Overshadowing any operational result from Naspers and Prosus is the increasing concern around capital allocation and management incentives that have destroyed shareholder value for over a decade. These concerns, along with the cross-shareholding and...

As published in Business Day on 30 May, 2021 by Kyle Wales There has been much consternation about the fact that technology stocks appear overvalued.  While it pays to be cautious, especially after a multi-year bull-run in which the tech heavy NASDAQ composite has outperformed the...

As published in FA News on 29 April, 2021 by Kyle Wales Tesla, Gamestop, Bitcoin and non-fungible tokens are the modern-day equivalents of popular investment delusions in which fundamental valuations matter less and less, and prices are simply a function of investor sentiment. Charles Mackay, the author...

As published in News24 on 12 May, 2021 by Pieter Hundersmarck "And I looked, and behold a pale horse: and his name that sat on him was Death, and Hell followed with him." - Johnny Cash “When the Man Comes Around” History is full of valuable lessons. Because things...