More easing... Rand strength... doubt over "old" market fundamentals, weakness in "old world" currencies, nascent inflation and still (in fact even more given the incessant encroachment by "governments" on restricted funds through taxes and by other means) ... the need for yield.
SA commodity stocks because I can't anticipate the GBP translation of dual listed. MTN and NPK because the NAIRA has held up well post unpegging and they have resolved their immediate issues. Frankly - I have so much overseas property stock etc. that this is also almost as a matter of necessity from a diversification point of view.
Nope! OR I could short go short GBP / long BIL or something along those lines. Too many moving parts for my liking. Something invariably goes long. Look at the TRADERS CORNER hedges for a classic illustration of this...
Clearly not! - I said I would not back the RAND because of local politics - I said I would rather look at OZ assets and currency for an emerging market recovery and an old world currency reversion. AND I have (for the most part.) I still feel that way - that risk has not changed. Buying SAfrican stocks exposes me to this risk. I have no intention of lingering in them for too long. It is a positional trade. In all honesty, I should probably not be touching them at all. Still - all of these stocks are moving their operations away from SA as best they can - and it is this that I hope will act as a backstop. PLATINUM miners are a purely SAfrican play. Why did you not complain when I punted resource stocks on the same basis a while ago?