The USDZAR exchange rate has been a very informative instrument through which to view major political events that have unfolded in our country over the last 20 years. Knowledge of the fair value estimate, awareness of the mean-reversion characteristics of the fair value residual, and the ability to decompose the residual into an Emerging Market…
The following article was commissioned by Dynasty for our clients and compiled by our research partner, Analytics Consulting, as represented on our Investment Committee. Since South Africa went to the polls on 29 May of this year, the USD/ZAR exchange rate has moved from a level of R18.40/$ on that day to a level of…
The following article was commissioned by Dynasty for our clients and compiled by our research partner, Analytics Consulting, as represented on our Investment Committee. Notwithstanding the Decoder methodology outlined below, Dynasty considers other non-quantitative factors in determining an investment case for gold, which are currently supportive of this asset class/currency. These include an apparent weaponisation…
While the rhetoric around prescribed assets subsided a few years ago due to the workers’ unions realising that their members would be among those most prejudiced should the policy be implemented, there have been some queries as to what lengths the South African government may go to in order to fund their budget deficit and…
This article has been compiled exclusively for Dynasty clients by Dr Lance Vogel from Analytics Consulting, who is represented on the Dynasty Investment Committee. It is a well-known fact that corporate earnings (E) are a very influential driver of share prices (P) over the long-term. As a result, investment strategists will study the performance of…
In 2017, the Nobel Prize for Economics was awarded to Richard Thaler, who is an American economist and the Charles R. Walgreen Distinguished Service Professor of Behavioral Science and Economics at the University of Chicago’s Booth School of Business. In many quarters, Thaler was a controversial choice. For some in the profession, the idea that…
