Piet Viljoen on Asset Allocation

Moneyweb Seminar
Presented by Piet Viljoen
October 2011

RE·CM is a licensed Financial Services Provider, FSP number 18834

"To speak out against the madness may be to ruin those
who have succumbed to it. So the wise on Wall Street
nearly always remain silent. The foolish have the field to
themselves, and none rebukes them."
-J. K. Galbraith


Where is the “War on Heart Disease”?


Too many alchemists plying their trade


Don’t lose money

R100 invested :

R129,86

R118,43

R133,10


The real skill in investing

 “All mans miseries comes from not being able to sit in a
room quietly and alone” – Pascal
 “We don’t get paid for activity, just for being right.
Success in investing doesn’t correlate with IQ – what you
need is the temperament to control the urges that get
other people into trouble” – Warren Buffett.


Suggested asset split
Geography
SA Assets 40% Cash 70%
Bonds 0%
Property 0%
Equity 30%
Offshore Assets 60% Cash 30%
(developed markets) Bonds 0%
Property 0%
Equity 70%


SA Equities still no bargain


US still has a way to go


But Japan very cheap!
J AP AN-DS Ma r k et - P RICE IND E X 3/10/11
3.50

3.00

2.50

2.00

1.50

1.00

0.50

0
73 75 77 79 81 83 85 87 89 91 93 95 97 99 01 03 05 07 09
(T OT MKJ P(DY))

Sourc e: T homs on Reuters Datas tream


Piet Viljoen on Asset Allocation

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