BUSINESS NEWS - In the South African asset management industry you would struggle to find three people more experienced and more straightforward than Louis Stassen, Sandy McGregor and Dave Foord.
The three have each spent decades at their respective firms – Coronation, Allan Gray, and Foord Asset Management – and have seen the sector develop from its early years into the significant player in the economy it is today.
Stassen, McGregor and Foord shared a stage at the Morningstar Investment Conference in Cape Town on Thursday, and delivered some fascinating insights into issues facing the asset management world, and their lives in the industry:
What impact does local politics have on your investment views?
Sandy McGregor: We’ve been here before. We’ve managed money through very difficult times in the past. So what we’re going through now is not new.
Of course it is always the last crisis that does you in, and there’s always the worry that this is the one, but I personally have seen six or seven crises, one way or another in my investment career.