Why I turned bullish on Bitcoin and bombed-out AI hyperscalers
Ryk de Klerk links Bitcoin’s slump and hyperscalers’ pain to a jump in Big Tech bond spreads, arguing the market has priced in heavy capex and financing needs.
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How advisers can prevent ‘fight or flight’ from destroying returns
Morningstar’s Investment Outlook for 2026 highlights trends in the US and domestic equity markets that it believes advisers and investors should watch.
I am bearish but invest bullish by seizing value opportunities
Ryk de Klerk’s focus has shifted from picking AI ‘winners’ to identifying future ‘survivors’ – and balancing portfolios with undervalued, lower-risk Healthcare and Consumer Staples.
Old Mutual to buy majority stake in 10X Investments for R2.2bn
The move accelerates Old Mutual’s retail-direct strategy and strengthens its position in the passive investment market.
Ninety One to list two actively managed ETFs on the JSE
One fund provides a Regulation 28-friendly way to access a South African multi-asset income strategy, while the other is a rand feeder into a US dollar multi-asset income fund.
Parabolic gold: risk/reward is too high
Reduced available mine supply and massive ETF flows have driven a parabolic gold rally that is pushing the asset beyond traditional defensive risk/reward thresholds.
The rand is at ‘a major inflection point’
Initial post-election gains have unwound as global commodity and manufacturing momentum converged with the world rand.
Momentum doubles down on IFAs – advice at the heart of its impact strategy
CEO Jeanette Marais says Momentum will ‘invest aggressively in advice’ in its effort to strengthen VNB and long-term competitiveness.
An eerie calm before the storm
While index levels look stable through September’s expiries, concentrated option exposures and rising fund-based covered-call strategies create a fragile backdrop for a sudden move.
Why I turned bearish on risk assets
Stocks are tasting new highs – largely powered by IT and communications services – yet leading indicators point to weaker manufacturing and downside earnings risk.
Why I am shy of the copper market and base metals
Traders left holding the world’s priciest copper could struggle to offload the metal if premiums erode – potentially triggering a broader base metals slump.
New Sygnia fund offers crypto exposure in a life insurance structure
The Life Bitcoin Plus Fund uses a ‘portable alpha’ strategy to generate returns beyond the performance of the iShares Bitcoin Trust ETF.
Bitcoin adoption: increasingly part of my investment portfolio
Net cumulative purchases via pure Bitcoin ETFs have surged 2.5-fold since mid-March. This influx underscores growing institutional conviction in Bitcoin as a core portfolio allocation.
The rand: more than meets the eye
Ahead of South Africa’s election, foreign asset managers increased their exposure as the 10-year bond yield gap reached 8%. Recent fluctuations, driven by speculative futures and options trading underscore the complex forces at play behind the rand’s performance.
Tariffs & markets | Why I’m increasing my risk budget
Market movements since Donald Trump’s inauguration are drawing comparisons with the 2018/19 trade war. With a 10% loss already, another 10% dip could be on the horizon if the economic fallout worsens.
Retail hedge funds surge as industry hits record growth
A decade after the introduction of hedge fund regulations, retail investors are driving strong growth, with RHFs attracting R11.84 billion in net inflows in 2024.
US bonds: when a dead asset comes alive
With the risk premium of bonds relative to equities at a 20-year low, US bonds – particularly medium-term ones – are regaining their relevance in diversified investment portfolios.
