MyMoney Online

'Get as much money offshore as you can as quickly as possible'

Uninvestable (Youtube screengrab)

The increasing number of failing JSE-listed companies – coupled with devastating government policies and corruption – is making South Africa ever more uninvestable, warned Nick Pitro (a senior consultant at wealth manager Asuten Morris Associates) on Thursday.

… barely a week goes by without a former favourite South African share collapsing in price because of outright fraud, corporate governance failings, corruption or sheer incompetence. The private sector seems to be joining the government’s corruption party. There is a ‘last days of Rome’ vibe on the JSE right now…

Nick Pitro, senior consultant - Asuten Morris Associates

Pitro suggests getting as much money offshore as quickly as possible.

Staying invested in local assets is likely to erode your wealth over time.

Nick Pitro, senior consultant - Asuten Morris Associates

…many of the world’s best companies are American...

Nick Pitro, senior consultant - Asuten Morris Associates

Arabile Gumede (in for Bruce Whitfield on The Money Show) interviewed Pitro.

Listen to the interview in the audio below (and scroll down for quotes from it).

I’m a patriotic South African… but the reality is… we’re faced with turmoil… …offshore is the place to be…

Nick Pitro, senior consultant - Asuten Morris Associates

We believe there is great value in the US…

Nick Pitro, senior consultant - Asuten Morris Associates

The JSE… our investments are essentially going backwards… What if South African companies don’t recover?

Nick Pitro, senior consultant - Asuten Morris Associates

Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI
Read More
Why Anchor Capital is buying MTN, Sibanye and Transaction Capital

Why Anchor Capital is buying MTN, Sibanye and Transaction Capital

The Money Show’s Bruce Whitfield asks Peter Armitage (CEO at Anchor Capital) for his stock picks of the week.

Considering emigration? Financial planner discusses the affordability of leaving

Considering emigration? Financial planner discusses the affordability of leaving

Can you afford to leave South Africa? Certified Financial Planner (CFP) Barry O'Mahony on what to consider before deciding.

Why FNB is buying Shoprite, Sasol and Equites

Why FNB is buying Shoprite, Sasol and Equites

Edgar Mafoko (Portfolio Manager at FNB Wealth and Investments) shares his stock picks of the week on The Money Show.

3 best JSE shares to buy, right now (by The Robert Group)

3 best JSE shares to buy, right now (by The Robert Group)

Devin Shutte (Head of Investments at The Robert Group) shares his stock picks of the week with Bruce Whitfield on The Money Show.

Karatbars – is it a scam? The case for and against…

Karatbars – is it a scam? The case for and against…

Bruce Whitfield interviews senior Karatbars representatives, a financial advisor and someone who was invited to its conference.

Schools don’t teach personal finance - how to raise a future millionaire

Schools don’t teach personal finance - how to raise a future millionaire

Personal finance expert Warren Ingram (Galileo Capital) on how to raise financially free children.

Popular articles
 Eskom buys fine coal that looks like baby powder when wet, says expert Ted Blom

Eskom buys fine coal that looks like baby powder when wet, says expert Ted Blom

Energy analyst Ted Blom weighs in on the energy crisis in South Africa as load shedding stage 2 is implemented.

Want to get rich? Got R100? You don’t need millions to start

Want to get rich? Got R100? You don’t need millions to start

Bruce Whitfield interviews Anthea Gardner, author of "Make Your Money Work for You: Think Big, Start Small".

What is a 'Modern African Gentlemen'? Mini SA asks a 'pretentious' question

What is a 'Modern African Gentlemen'? Mini SA asks a 'pretentious' question

Branding and advertising expert Andy Rice hates Mini South Africa’s new "Clubman Modern African Gentlemen Edition".

Now is the beginning of a new era - Jeff Radebe

Now is the beginning of a new era - Jeff Radebe

The longest serving minister in post-apartheid South Africa shares what he has described as an 'incredible' 25 years.

MultiChoice dumps all Steve Hofmeyr content from its platforms

MultiChoice dumps all Steve Hofmeyr content from its platforms

The pay-TV company has taken a decision not to air any past or future content containing the Afrikannas singer.

Is Kipi a ponzi scheme or not?

Is Kipi a ponzi scheme or not?

John Robbie spoke to Richard - a staunch supporter of Kipi (a financial social platform) about the credibility of this scheme.