Lu­lama Qongqo

Financial Mail - - MONEY&INVESTING - In­vest­ment an­a­lyst, Mer­gence In­vest­ment Man­agers

If some­one came to you to­mor­row with R100m to in­vest in just one com­pany, which would it be?

Cisco, a tech com­pany in the US.

Which tal­ent would you most like to have?

Rationality. The fear of be­ing the only wrong per­son can cause one to fol­low the crowd blindly. The abil­ity to over­come that psy­cho­log­i­cal dis­com­fort is what sep­a­rates great in­vestors from medi­ocre ones.

What was your first job?

I was self-em­ployed. I sold or­anges at age five, hand­bags at 16 and jew­ellery at 17. I’ve al­ways dreamt of cre­at­ing new busi­ness ven­tures.

If you could fix one thing in SA to­day, what would it be?

Ac­cess to nutrition — the very first chal­lenge many young South Africans en­counter from birth. The phys­i­o­log­i­cal dam­age re­lated to in­suf­fi­cient nutrition has life­long reper­cus­sions.

What’s the best in­vest­ment you’ve ever made?

Beige Hold­ings is my best re­alised in­vest­ment so far; I bought it at 2c a share and sold it at 3c a share seven months later when it delisted. But 50% up­side means noth­ing when the amount in­vested is not mean­ing­ful. I had very lit­tle money at the time.

What’s your favourite song?

Sound & Color by Alabama Shakes.

On what oc­ca­sion do you lie?

When I buy un­healthy food at Wool­worths, I strate­gi­cally for­get my loy­alty card at home and swipe with my Capitec card in­stead of my FNB card just so I can be ex­tra sure that Dis­cov­ery won’t find out what I ate. Then, when I buy kale, I make sure Dis­cov­ery finds out!

What travel ex­pe­ri­ence is on your bucket list?

Venice, be­fore it be­comes At­lantis.

How much was your first pay cheque, and what did you do with it?

R11,000 (be­fore tax). I started pay­ing my stu­dent loans, which I am priv­i­leged to no longer have.

What’s the worst in­vest­ment you’ve ever made?

Wool­worths. The an­chor­ing-bias bug bit me at

R80 and I’ve been afraid to cut my losses or av­er­age down ever since — I am pay­ing school fees for be­ing ir­ra­tional.

What was your last pur­chase?

A Brief His­tory of Time: From the Big Bang to Black Holes by Stephen Hawking. It was only R15. I love sec­ond-hand book­shops.

Do you own bit­coin or any other cryp­tocur­ren­cies? And why?

Yes. I was ex­per­i­ment­ing with an ar­bi­trage idea be­tween ex­changes when my coins got stuck on one ex­change that didn’t seem to meet its liq­uid­ity re­quire­ments. I can’t with­draw it. I think I still own it.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.