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SATRIX – ETF or UT?

SATRIX – ETF or UT?

I have written about the merits of using the unit trust versions of the SATRIX Funds previously but a recent example once again highlighted the advantage of the unit trust over the ETF. Apart from the fact that the UT is cheaper than the ETF (the underlying funds are the same price but there is no “platform fee” on the UT) it is also simpler and quicker to get your money out of the unit trust than the ETF. To redeem a unit trust...

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Fear and greed

Fear and greed

We bought dollars for a client recently at R12.60/$. It just seemed wrong; the rand is way under-valued and yet in the short to medium term there is absolutely no good news to suggest that it will get stronger any time soon. And yet it probably will. We know this because it has happened before. Remember 2000/2001 where the stories of people getting money out of SA at all cost are now the stuff of legend. Money in socks, money in friends’...

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Occam’s razor

Occam’s razor

It was while shaving one morning recently that Occam’s razor came to mind. William of Occam was a 14th century Franciscan Friar who studied logic and is credited as the first person to make known the “law of briefness”. In short he said that when faced with a problem, in the absence of evidence to the contrary, the simplest solution/explanation is usually the best solution/explanation”. Sometimes I wonder about my subconscious but I...

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Some things can be ignored

Some things can be ignored

Following another bout of load-shedding I noticed that the clock on the clock-radio in our bedroom was flashing on and off (it needs to be reset each time the power goes off). I was too lazy to reset it (again) and decided to ignore it (maybe my wife would do it if I pretended not to see it).  This got me thinking that there are some things in life that can be ignored but there are also some things (especially in our financial lives) that...

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SARS speaking with forked tongue (again)

SARS speaking with forked tongue (again)

SARS speaking with forked tongue (again) Filing season for the 2015 tax year opens today and SARS have been sending out plenty of emails about this. One of them is titled “BE TAX SMART – Check if you need to submit an income tax return!” which implies that some people might not need to submit an annual return.  We followed the link on the email and this is what we found: “Taxpayers earning less than R350 000 a year may not have...

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Sell low; buy high…Not!

Sell low; buy high…Not!

I remember a great radio ad a couple of years ago by one of the unit trust mancos that feautred 2 opera singers. One sang (in a very deep/low voice) “buy, buy, buy, buy” while the other one sang “sell, sell, sell, sell” in a very high voice. The point was well made and is one that every investor should heed – you need to buy low and sell high, definitely not the other way around. Which is why I find recent articles and comments by...

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Dear Old Mutual, Liberty, Sanlam, Momentum, Discovery, PPS et al (insert name of insurance company)

Dear Old Mutual, Liberty, Sanlam, Momentum, Discovery, PPS et al (insert name of insurance company)

Dear Old Mutual, Liberty, Sanlam, Momentum, Discovery, PPS et al (insert name of company) RE:EVERY SINGLE PART OF MY BEING HAS TO FIGHT THE URGE TO TAKE BUSINESS AWAY FROM YOUR COMPANY. There is a peculiar thing in this industry that if you are not the advisor on record because you don’t have a contract at a particular company (or the client transfer was not processes correctly) that you cant get information for your client from that...

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