Plexus Platform2012
10 January 2012 - 2012 - Outperformance or Wipeout?
In this week’s edition of Plexus Platform, managing director Paul Stewart reviews Plexus’s score-card with regard to its predictions for 2011, and more importantly takes a stab at making some forecasts for the main asset classes for 2012. Read on to find out whether he believes the scenario is one of outperformance or wipe-out.
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2011
29 November 2011 - Sarb's Conundrum - Inflation targeting or growth?
With inflation on the rise and an economy that is facing headwinds, the South African Reserve Bank has a conundrum to answer. Should it focus on inflation or on trying to prop up growth amidst the looming global slowdown? In this week's edition of Plexus Platform, managing director Paul Stewart takes a look at what local interest rates are saying about the SARB's next move.
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22 November 2011 - Italy's economic scandal
In this week’s edition of Plexus Platform we discuss the latest potential casualty in the Eurozone’s ongoing debt debacle, namely Italy. We look at how much exposure various countries have to Italian debt and consider the question “Is Italy too big to fail?”.
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9 November 2011 - Dinosaurs and Volcanoes
In this week’s edition of Plexus Platform Paul Stewart, managing director of Plexus Asset Management, describes a recent visit to the Cape Town Museum with his children. He equates the gory dinosaur exhibit with the events we have witnessed in the financial world over the past few years, and wonders whether investors view risk and specifically risk taking in the same way as they did previously. Read on to find out what his views are on the current uncertain global scene, and what the possible outcome might be.
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25 October 2011 - The Rand: A case for diversification
The past quarter has been a roller-coaster ride for investors, with global financial markets exhibiting levels of volatility similar to and some even greater than those of past major crises. The recent scenario of elevated levels of risk aversion has led to a significant sell-off among emerging-market currencies. In this week’s edition of Plexus Platform we revisit the benefits of foreign diversification in a local investment portfolio.
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18 October 2011 - Looking at entry points into equities as volatility subsides
In this week’s edition of Plexus Platform we take a look at the South African Volatility Index and how this index can help us make investment decisions. We also look at what foreigners have been up to in our markets over the past few weeks.
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13 October 2011 - Why we should care about Europe
As South Africans, we started this week down in the dumps after the embarrassing display by Bafana Bafana in Nelspruit, and the unfortunate way the Springboks were booted out of the Rugby World Cup. From an economic point of view things have also been miserable, especially in the Eurozone. In this week’s edition of Plexus Platform we explain in simple terms why we as South Africans should care about a speedy and orderly solution to the very serious situation in the Eurozone.
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5 October 2011 - Extreme volatility in markets - What is the reason?
The rout in global financial markets is continuing, characterised by extreme swings of up to 5% in some markets. In this week’s edition of Plexus Platform we discuss the reasons behind the extreme volatility and try to establish what will bring the extreme volatilities down and calm the markets.
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28 September 2011 - DéJà Vu All over again!
During the tumultuous years of the 2007/2008 credit crisis, the South African rand (ZAR) weakened by 48% (best to worst rate) against the US dollar (USD) and 47% against the euro (EUR). The mechanics that led to the ZAR’s depreciation were not unique to South Africa and quite simple. Over the past two weeks we have seen the rand take another dive. In this week’s edition of Plexus Platform we look at the reasons for the decline. Is this déjà vu?
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15 September 2011 - Caution - Volatility Index starting to rise
In this week’s edition of Plexus Platform we take a look at the South African Volatility Index and try to fathom out what it bodes for the domestic stock market.
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8 September 2011 - Interest Rate Conundrum
South African inflation that has been edging up over the past few months and is expected to breach the SARB’s upper target limit of 6% before year end. However, the South African GDP for the second quarter of 2011 has disappointed and, considering current conditions in the developed economies, prospects for the rest of the year are not that rosy. It seems the SARB is caught between a rock and a hard place with regard to its next interest rate decision, but to find out what market makers are anticipating we take a look at what the Forward Rate Agreement (FRA) curve has been doing recently.
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25 August 2011 - Mysterious Mr Market
In this week’s edition of Plexus Platform, managing director Paul Stewart discusses the recent market shenanigans and tries to make some sense of it all.
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10 August 2011 - Listed property's performance: Is it correlated more with bonds or equities?
In this special edition of Plexus Platform we attempt to give some perspective on the sharp decline in equity markets over the past two weeks, how we as investment managers view the current situation and what investors should be doing.
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5 August 2011 - Markets tumble - Is it time to panic?
In this special edition of Plexus Platform we attempt to give some perspective on the sharp decline in equity markets over the past two weeks, how we as investment managers view the current situation and what investors should be doing.
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4 August 2011 - The golden question: To what level?
Over the past couple of weeks the news wires have hummed about the issue currently engulfing the global economy and market-places, namely the issue of debt. In this week’s edition of Plexus Platform we discuss the effect of the current debt crisis in the US and Europe on the prices of commodities and more so gold.
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27 July 2011 - Changes in interest rates: What effect do they have on property returns?
In this week’s edition of Plexus Platform we take a look at what effect changes in interest rates have on the performance of listed property. In the current interest rate cycle, should one be over- or underweight in property?
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19 July 2011 - Platinum price to benefit from strike action in South Africa?
As wage talks between South African mines and labour have become deadlocked, the mood among mine workers and labour in general is for strikes and I doubt it will be averted. So says Dr Prieur du Plessis, chairman of Plexus Asset Management and author of the Investment Postcards blog.
“Last year’s settlements were generally below 10% but expectations are much higher this time around,” says du Plessis. “I think we are probably in for a minimum of two to three weeks – similar to what happened in 2009.” The major two-week strike in 2009 from 24 August to 8 September saw Implats lose 50 000 oz of production and Aquarius about 17 000 oz.
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4 July 2011 - It doesn't have to be black or white
In this week’s edition of Plexus Platform managing director Paul Stewart looks at the ongoing debate on active versus passive investing, and investigates whether any common ground exists between the two disciplines. He also discusses the relatively new fundamental indices® (RAFI® indices) and why leading global investment consultants and academics are now swiftly adopting this “smart index” methodology as core strategies within investment portfolios.
According to Stewart, RAFI® indices provide a neat synthesis between the active and passive strategies of old and can be used in isolation or in combination with other strategies to provide enhanced risk and return benefits to both retail and institutional investors. Read on to find out more.
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