Back at the ranch
ANOTHER SOUTH AFRICAN-BASED investor – though it seems he’s seldom in the country – at the coalface of the current crisis is Kokkie Kooyman, the global financial shares specialist at Sanlam Investment Management. In his latest report Kooyman says his funds have had no exposure to “any of the black holes” overseas but “nevertheless the share prices of the companies we’re invested in have been decimated regardless”.
I can’t imagine a worse time to be running, among others, a global financial fund. But in typical Kooyman style he has a sanguine outlook about the crisis, asking if this could be the investment opportunity of a lifetime and answering in one word: “Yes”.
Why invest now? “Because valuations are attractive and markets are so sold down that equities could very suddenly rally strongly for a while.”
Hope he’s right.