For lowly scribblers love myself, stumping up R1m to take a look at the investment markets is a pipe dream, but heck, it’s caught reader attention. On this Vrye Weekblad share, currently in the lend a hand of a paywall, Magnus Heystek – who is shedding the battle alongside with his depreciated offshore half of million eating the mud of Piet Viljoen’s native SA R500Okay investment – rebuts a politico who’s received his enamel into him. His fresh adversary is Dr Piet Croucamp, lecturer in political science at North West University. Heystek’s counter thrust centres on long-standing conditioning born of the apartheid days when offshore investment became banned. He tells us why offshore investing has had a imperfect rap, whereas his supporters gently murmur that he’s playing the long sport and can beget his day, regardless of how imperfect his six-month results are. Please somebody give me a million to take a look at my theories? Like which South African trout river outperforms the finest identical international rivers. I’ll stop all of the long-distance travelling and river legwork (and employ my have ‘instruments’), no self-discipline! – Chris Bateman
By Magnus Heystek*
It’s no longer continuously easy having an thought about anything, especially something as predominant as investment advice, which goes against the present legend. It brings out feedback and criticism from many unexpected sources, most continuously fully left-self-discipline.
First some background. For heaps of the time the National Occasion and white of us dominated this country, offshore investments were banned and someone caught shifting money offshore illegally would uncover themselves in sizzling water and, in many circumstances, prison.
Thus became created the deeply embedded idea, soundless very prevalent at present, that offshore investments are soundless trust to be undesirable, if no longer downright detrimental.
But fortunately, South Africa has moved on and is now a much bigger living whereas offshore investing has been wonderful since 1997. On the present time, with a yearly allowance of R10m per taxpayer, most boundaries to growing world wealth beget been removed. But it with out a doubt soundless doesn’t discontinuance of us labelling offshore investments as imperfect, a betrayal of one’s country.
Dr Piet Croucamp, lecturer in political science at the North West University, has on the entire had many issues to issue about this topic, noteworthy of it aimed toward Magnus Heystek, director of Brenthurst Wealth.
His as of late salvo became attributable to the results of the investment say on BizNews between Heystek and Piet Viljoen who runs the Counterpoint Value Fund. After the first six months of this say, Viljoen became plan forward of Heystek, who stuck to his offshore theme.
There you beget gotten it, acknowledged Croucamp in the Vrye Weekblad of 12 Could also just. Heystek ought to beget rather adopted the advice of the sunshine economists and stuck with South Africa for his investments.
This precipitated tons of chatter on social media, but right here is the respond penned by Heystek for Vrye Weekblad and BizNews readers.
- Magnus Heystek is investment strategist at Brenthurst Wealth. He could possibly well well furthermore also be reached at [email protected] or apply him on twitter @magnusheystek.
Be taught furthermore:
- Spherical Regarded as one of The R1m Dispute of affairs: Piet Viljoen’s ‘Local’ is smashing Magnus Heystek’s ‘Offshore’ – but it’s very early days
- The quite a bit of (happier) facet of Heystek’s property lunge – and why he’s now taking money offshore to glean US shares
- SA no country for rich of us – Heystek vs Gore
Magnus Heystek became interviewed on the topic highlighted above (is in Afrikaans):
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