“It is during our darkest moments that we must focus to see the light.” Aristotle Onassis
It has been a tough start to 2024 for South African focussed investors. In stark contrast to global equity markets, where the MSCI World Index gained nearly 9% in US Dollars (US$) in the quarter, the JSE Swix declined by over 2% in Rands, and nearly 6% in US$.