1. Moneyweb Seminar
Presented by Piet Viljoen
October 2011
RE·CM is a licensed Financial Services Provider, FSP number 18834

2. "To speak out against the madness may be to ruin those
who have succumbed to it. So the wise on Wall Street
nearly always remain silent. The foolish have the field to
themselves, and none rebukes them."
-J. K. Galbraith
RE·CM is a licensed Financial Services Provider, FSP number 18834

3. Where is the “War on Heart Disease”?
RE·CM is a licensed Financial Services Provider, FSP number 18834

4. Too many alchemists plying their trade
RE·CM is a licensed Financial Services Provider, FSP number 18834

5. Don’t lose money
R100 invested :
R129,86
R118,43
R133,10
RE·CM is a licensed Financial Services Provider, FSP number 18834

6. The real skill in investing
 “All mans miseries comes from not being able to sit in a
room quietly and alone” – Pascal
 “We don’t get paid for activity, just for being right.
Success in investing doesn’t correlate with IQ – what you
need is the temperament to control the urges that get
other people into trouble” – Warren Buffett.
RE·CM is a licensed Financial Services Provider, FSP number 18834

7. Suggested asset split
Geography
SA Assets 40% Cash 70%
Bonds 0%
Property 0%
Equity 30%
Offshore Assets 60% Cash 30%
(developed markets) Bonds 0%
Property 0%
Equity 70%
RE·CM is a licensed Financial Services Provider, FSP number 18834

8. SA Equities still no bargain
RE·CM is a licensed Financial Services Provider, FSP number 18834

9. US still has a way to go
RE·CM is a licensed Financial Services Provider, FSP number 18834

10. But Japan very cheap!
J AP AN-DS Ma r k et - P RICE IND E X 3/10/11
3.50
3.00
2.50
2.00
1.50
1.00
0.50
0
73 75 77 79 81 83 85 87 89 91 93 95 97 99 01 03 05 07 09
(T OT MKJ P(DY))
Sourc e: T homs on Reuters Datas tream
RE·CM is a licensed Financial Services Provider, FSP number 18834

11. RE·CM is a licensed Financial Services Provider, FSP number 18834

12. RE·CM is a licensed Financial Services Provider, FSP number 18834