with international equities sitting in negative territory over the past 18 months in real terms, South Africans that invested internationally have benefited from the exchange rate weakness
The effects of the 1997 Asian crisis, the 1998 market crash, weak international markets in 2000 and the recent attacks on the US have impacted on the accumulated savings of the average South African, along with investors worldwide. Nonetheless, in world terms, the JSE Securities Exchange has been the best 12-month performer after Russia and it has weathered the World Trade Center attacks better than most, with an overall fall of only 5%-6%. Furthermore, according to the S&P index, only 8% of world equities grew by more than 15% per annum between 1951 and 1999. South African equities ...
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