🇿🇦 South Africa
6h ago
Heystek: The tide’s gone out on the JSE – and SA Inc forgot its swimming trunks
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In March, the JSE was up 40% and Magnus Heystek was eating humble pie on stage at our BizNews Conference in Hermanus. Would he bring money home? “Not one cent.” Six months later, he looks right. Gold has pulled back, Naspers is down 46% from its peak, and the JSE is 13% off its high. Global markets are up between 15% and 20% over the same stretch. Even other emerging markets have left South Africa behind. Heystek argues the rally was never broad-based. Ten years of “local is lekker” has cost inv
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