'Optimism is not an investment strategy' - Magnus Heystek on SA economic catastrophe

Magnus Heystek, journalist who started his own investment advice company, Brenthurst Wealth Management, is no stranger to criticism for his grim outlook on the South African economy. One of the most high-profile investment advisors who have recommended offshore diversification, Heystek tells it like it is. This conversation between BizNews founder Alec Hogg and Heystek is no exception. Heystek paints a very gloomy picture of the reality that South Africans face today, with a disappearing tax base and gaping budget deficit being two of the many issues the country is confronted with. While he is not hopeless, Heystek states that optimism is not an investment strategy. Turning the spotlight onto local asset managers, he makes the point that ‘Asset managers, fund managers - call it what you like - are not investment advisors, they have no consequences that come back to them if they get it wrong.’ Learn more about your ad choices. Visit megaphone.fm/adchoices