Sharemax, Zambezi Mall and the Villa
THIS IS – hopefully – the last report I have to write about this subject. It’s just not worth the time and trouble anymore. To the poison pen writers, such as CJ Marnewick, who criticise me for being a junior, inexperienced and uninformed journalist, and John Craven, who wants me to state my financial background and agenda at the beginning of reports in future – plus the excitable Elsie van den Bergh – you’ll find most of your answers on Google.
But for those who don’t have Internet access, I’m 65 years old, have a Master’s degree in economics and several other professional qualifications. Before my retirement in 1999 I was a member of the JSE for almost 20 years and practised as a stockbroker. Note: stockbroker, not insurance salesman.
I don’t have any hidden agenda in my reports about Sharemax and I’m not paid for my contributions to Finweek by anyone other than Media24, a full subsidiary of Naspers. Positive reporting – and looking for investment opportunities – has always been a pleasure and if Finweek and its readers still find that valuable I’ll continue doing so.
However, sometimes it’s necessary – and in my modest opinion that was so with Sharemax over the past year – to point out the dangers of certain types of investment, especially to vulnerable senior citizens, who really need all the protection possible against sometimes overzealous investment advisers, most of whom even boast of a registration number with the Financial Services Board.
It will really be a wonderful day if some advisers – especially those who have squandered the money of old people – are held personally liable for what they’ve done.