Share­max, Zam­bezi Mall and the Villa

Finweek English Edition - - COVER STORY -

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.

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