For lowly scribblers esteem myself, stumping up R1m to check the investment markets is a pipe dream, but heck, it’s caught reader attention. On this Vrye Weekblad portion, at the second at the encourage of a paywall, Magnus Heystek – who’s losing the battle with his depreciated offshore half million ingesting the mud of Piet Viljoen’s local SA R500K investment – rebuts a politico who’s got his teeth into him. His unique adversary is Dr Piet Croucamp, lecturer in political science at North West College. Heystek’s counter thrust centres on prolonged-standing conditioning born of the apartheid days when offshore investment used to be banned. He tells us why offshore investing has had a immoral rap, while his supporters gently murmur that he’s taking half in the prolonged sport and would possibly maybe well well also comprise his day, no topic how immoral his six-month results are. Please someone give me 1,000,000 to check my theories? Fancy which South African trout river outperforms the splendid identical international rivers. I’ll terminate the entire prolonged-distance travelling and river legwork (and expend my receive ‘instruments’), no self-discipline! – Chris Bateman
By Magnus Heystek*
It’s not always easy having an thought about the relaxation, notably something as vital as investment advice, which suits in opposition to the prevailing memoir. It brings out comments and criticism from many unexpected sources, most incessantly totally left-self-discipline.
First some background. For added typically than not the National Occasion and white individuals dominated this country, offshore investments were banned and someone caught transferring money offshore illegally would rep themselves in sizzling water and, in many cases, jail.
Thus used to be created the deeply embedded perception, indifferent very prevalent right this moment time, that offshore investments are indifferent take into story to be undesirable, if not downright obnoxious.
However fortunately, South Africa has moved on and is now a wiser direct while offshore investing has been ethical since 1997. This day, with a yearly allowance of R10m per taxpayer, most barriers to environment up global wealth were removed. However it indifferent doesn’t quit individuals labelling offshore investments as immoral, a betrayal of 1’s country.
Dr Piet Croucamp, lecturer in political science at the North West College, has typically had many things to snort about this topic, necessary of it geared toward Magnus Heystek, director of Brenthurst Wealth.
His fair not too prolonged prior to now salvo used to be prompted by the outcomes of the investment self-discipline on BizNews between Heystek and Piet Viljoen who runs the Counterpoint Value Fund. After the first six months of this self-discipline, Viljoen used to be manner ahead of Heystek, who caught to his offshore theme.
There you would possibly maybe well well also comprise it, talked about Croucamp in the Vrye Weekblad of 12 Would possibly maybe. Heystek would possibly maybe well well also indifferent comprise moderately adopted the advice of the sunshine economists and caught with South Africa for his investments.
This triggered hundreds chatter on social media, but here is the acknowledge penned by Heystek for Vrye Weekblad and BizNews readers.
- Magnus Heystek is investment strategist at Brenthurst Wealth. He’s going to even be reached at [email protected] or prepare him on twitter @magnusheystek.
Be taught also:
- Round In point of fact appropriate one of The R1m Subject: Piet Viljoen’s ‘Native’ is smashing Magnus Heystek’s ‘Offshore’ – but it’s very early days
- The diversified (happier) aspect of Heystek’s property proceed – and why he’s now taking money offshore to capture US shares
- SA no country for rich individuals – Heystek vs Gore
Magnus Heystek used to be interviewed on the topic highlighted above (is in Afrikaans):
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