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OK so based on your responses this is a one hit a month wonder type of competition - research is not a factor whatsoever - but knowledge of how the croupier spins the wheel is important

Have you guys worked out the word puzzle from Sharenet as to how their competition works

How does it work

"Simply register, then pick 5 stocks at any point in each month, from April to November 2016, and you'll be in with a chance of winning"

Here's the confusion
1)You may pick a maximum of 5 stocks over the duration of the competition being run from April to November?
2)You can pick 5 stocks at anytime during the month and repeat this over the period April to November
3) You may pick a stock a month anytime during the month but may not exceed 5 stocks over the duration of the competition
4)You may select 5 stocks and purchase all 5 in the month of April and hold them for the duration of the competition
5) extension of 4 above but you can sell one of your 5 stocks purchased, but can't buy until the preceding month

The rules seem to be expected to be interpreted as the author wrote the rules, and not by the author trying to ensure no misinterpretation of the rules - some say that's singing from the same hymn book, I prefer to look at it and say confusing script, confused mind
Hope forumites interpret the rules like the author want you to without confusion, as I am indeed confused
 

Quote from: gcr on March 25, 2016, 04:10:43 pm

Quote from: Mr_Dividend on March 25, 2016, 02:27:17 pm

Could be wrong, but I heard Patrice's fortune is pretty much self made?

Couple of others others. Sbu Shabalala (started adaptIT)  and the Business Connection brothers.

Patrice started buying up gold mines in 1997 through a company he called African Rainbow Minerals, mines had to have a 26% BEE component before a mining license was granted - he made his money through BEE

Sorry, disagree with you. He started the business from the ground up after seeing an opportunity. He didn't get a tender for it/ nether did he take part of an existing business. Kudo's to him - need more guys like him.

Maybe read Patrice Motsepe: a rare success story penned by Franz Wild and Mike Cohen, Bloomberg on 24 July 2013 - you are more than welcome to draw your own conclusions

I posted a response on Moneyweb on this article, due Cyril the squirrels comments.
It seems that the majority of the population has this view that they are entitled to the riches of this country by sitting on their hands and waiting for the handouts. This stupid expectation of course has been aided and abetted by the illustrious ANC whose rhetoric was free education, housing and jobs made in heaven. The illusion has been kept alive by the ANC and now this is coming back to haunt them as there is no money for free education and jobs hard to create through a poor economic policies and avarice for what the white owners/mangers have achieved. The unfortunate reality is that there is no fast track to success and wealth - compare the Ackermans, Ruperts, Weise's, Joffe's of the country and consider how long it took them to amass substantial wealth - then compare them to the Motsepe's, Ramaphosa's and a host od other wealthy blacks whose extradionary wealth has come form little effort, hardship or just simple hard work to accumulate their wealth. Are these families wealthy - yes in monetary terms, but, in sheer business acumen, astute management then they are dirt poor. There are two blacks who I believe have broken the mould and achieved greatness (both of whom I have met) Richard Maponya and Herman Mashaba, undoubtedly there are others who have proven to be successful but they all demonstrate some very simple attributes - they don't shy away from hard work, they are not overtly outspoken about their wealth, they are shrewd business opportunity seekers, and don't give up when the going gets tough.
The squirrel if he does become president will be a disaster for this country as it is evident all his speeches and utterances are the product of a very destructive political party who have no will to make this country great. I always remember attending Clem Sunters high road, low road lectures - what the ANC has chosen is the low road and a massive mindset change is required to get us back on the high road
Rant over   

Per my own personal experience and having worked for 40 years any figure resembling 22% to 25% of after tax salary will allow you to live comfortably for a substantial number of years after retirement, but once on retirement you will need to address you expenses and cut out those that are not necessary - so even in retirement you need to be sensible with your expenses. However it is important to build up a portfolio of investments over and above your pension commitments - this portfolio becomes your wealth creator whilst your pension sustains your lifestyle

These types of discussions are quite fascinating as you will always get 2 camps of thought on the matter. I firmly believe that the house you purchase is a lifestyle choice with a view to the future i.e. married, number of kids, and location of purchase. I do believe that it is expeditious to purchase a house which will satisfy your current and future needs (probably 10 to 15 years out) and as someone commented you are in the market. However this house is going to cost you over the years in respect to painting exterior/interior periodically changing the colour scheme (you or/and your wife don't like the colour) insurance (home owners) utility costs, rates and taxes (though some rental recover consumption costs from the rentor) extensions braai area, gazebo, swimming pool (maybe), security and a host of ad hoc costs associated with running the property. In a rental situation you notify the landlord when anything fails (scrutinize lease agreement meticulously for your costs) and of course the killer today is CGT on sale
In my opinion buying a primary residence is a must do but you need to be savvy as to how you map out your future investing program, and buying a house may delay your journey, or, you have a slow start. Once you have negotiated a bond then it is prudent to pay it down (but not fully) as quickly as you can afford, and you return to the bank and ask them to re instate the original bond amount over a 30 year period (or to the maximum period that the bank will agree to; also banks like to terminate bond repayments at age 65 - but this is a fallacy as you can extend a bond longer than this - mine runs to age 75). You then use the difference between the outstanding bond and the newly reinstated bond limit to invest in your desired instruments. You then start repaying of your bond as quickly as you can again and then run the reinstatement process all over again. If you want to you can use dividends/income from your investments to help pay back the bond, but I personally buy more shares with my dividends.
So in a sense I am advocating buying a primary residence as opposed to rentals, but more from the perspective that the bond is used as a piggy bank for you investment future.
Also I don't consider my car (recently purchased) or my home as part of my wealth at all though I do take my bond and installment as deduction to my wealth.
When I bought my house in 1980 my wife and I agreed that we would not consider relocating under any circumstances whilst the kids grew up and still I stay in the same house, costs can run away from you if you keep changing residency
As I said there are always 2 camps on this subject it just a matter of working out what you and your family want, because right now with the kids gone our house is a bit big given that we self clean the place
 

My view is that he will be withdrawn after the municipal elections where the showing of the ANC will be a disaster and the NEC will dump the blame on him and save themselves some face.
I think the bigger problem to be faced by the Zuma saga, is not his withdrawal but who to put in his place - so far Mbete, Duarte, Squirrel and the double barreled Zuma are all in contention but there is no unanimous choice so this is their dilemma. The NEC meeting this weekend may give more pointers especially since our jovial (but brainless) sporting minister has also been targeted as a Gupta appointment by Juju