This market is truly "taking no prisoners." I fear this mentality has yet to play out fully in the ZAR(?) It may be time to try and pick a bottom in some of these shares/indices rather than waiting for the Rand to capitulate. Or just buy the USD. Not a long term solution... but at least one can hunker in relative shelter for a while.
Have plenty of NEWUSD- for the meantime. From an inflationary and dividend income point of view - one needs shares though. Longer term - there must be some interesting opportunities developing. More on overseas markets though.
Oddly enough (or not, given the current state of affairs,) exactly this issue of covering Rand risk while hedging against a reversal is covered in Standard Bank's >Reasearch>Analyst's Reports- it expands on the conundrum but really does not (cannot) offer a solution. It even considers my option of catching a variety of falling knives (ie. picking bottoms) across a diversity of asset classes: report:https://securities.standardbank.co.za/ost/sp/FrontOfficeSecure/ContentManagement/TransferFile.aspx?r... Futures Daily\Trading in tough markets.pdf&method=Open