Local v Offshore: Piet, Magnus agree on portfolio structure, warn on marketing scams

Two years into the R1m challenge to settle which is better, JSE or global investing, the performances of protagonists Piet Viljoen and Magnus Heystek have significantly narrowed. Following a flying start, Piet’s “Local is Lekker” portfolio has stalled, with Magnus’s offshore-focused investments clawing back after a horrific first few months. In this half-yearly recap on the Challenge, there’s a surprising amount of agreement between them - including a shared warning of how marketers of financial services promote finite-time concepts whose results are bad for investors. They spoke to Alec Hogg of BizNews.