MyMoney Online, Make Money Mondays

How to make money out of the rand (whether it recovers, or tanks even further)

(Click here for more personal finance articles.)

Mike Wills interviewed Barry O'Mahony, founder of Veritas Wealth Management, for his “Make Money Mondays” feature.

O'Mahony discussed how to make money out of the rand, whether you think it’ll get stronger or weaker.

Scroll down for quotes from the audio below.

Predicting the currency is a mugs game.

Barry O'Mahony, founder of Veritas Wealth Management

Don’t act when you’re emotional.

Barry O'Mahony, founder of Veritas Wealth Management

South African banks are increasingly offering offshore bank accounts.

Barry O'Mahony, founder of Veritas Wealth Management

If you think the rand will continue falling you may consider buying rand-hedge stocks.

Barry O'Mahony, founder of Veritas Wealth Management

If you think the rand will improve, bring some of your offshore money back now.

Barry O'Mahony, founder of Veritas Wealth Management

When things are confusing – as they are now – ensure you’re well-diversified.

Barry O'Mahony, founder of Veritas Wealth Management

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