Asset manager Citadel does not use the word “junk”, says George Herman, its Chief Investment Officer.
In an interview on Bruce Whitfield’s The Money Show; Herman gave the following five reasons for this:
The probability of South Africa defaulting on its debt has not increased meaningfully since the downgrade.
The credit agencies do not use this term.
Global ratings agencies are like film critics.
Defaults by countries in the top bracket of non-investment grade happen only marginally more frequently than those in the lowest bracket of investment grade, so the actual difference in absolute credit risk is marginal.
- Times like these offer opportunities.
For more detail; listen to the interview in the audio below.
Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.
Power tends to corrupt. The Fica Bill addresses that. Jacob Zuma, however, says it infringes on rights of powerful people.
The Money Show’s Bruce Whitfield interviews Shaun Davies, Director of Market Regulation at JSE.
The Money Show’s Bruce Whitfield interviews Rand Merchant Bank Currency Strategist John Cairns.
It’s hard, but not impossible. Arabile Gumede interviews Argon Asset Management Economic Strategist Dr Thabi Leoka.
S&P has downgraded South African banks. Banking Association of SA’s Cas Coovadia discusses the development on The Money Show.
Arabile Gumede (on The Money Show) interviews ZAR-X CEO Etienne Nel.
The Money Show’s Bruce Whitfield interviews Daniel Silke, Political Economy Analyst at Political Futures Consultancy.
EWN Barry Bateman explains the High Court proceeding on President Zuma's application to set aside parts of Madonsela's report.
Stephen Grootes spoke to founder and CEO of OrderIn to find out more about South African's eating habits.
Watch the Guptas pack their bags and run in Nando's inspiring new advertisement.
In 2012 Steinhoff acquired 20% of wealth manager PSG, reportedly infuriating Mouton. Bruce Whitfield interviews him.
‘I need you to provide me with an answer' - John from Edenvale, Gauteng