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Hi Yozzi, I think the market has probably already taken most of the pain for now. Crashes happen quickly and we've seen a correction now back to around Feb-14 levels. Whilst there is certainly the potential for further downside I expect this won't be as severe as what we've seen already.

Your Orbis fund should have performed quite well over this period as I believe they hedge and thus perform well in a falling market whilst underperforming in a rising market. Coronation are probably the best of the South African fund managers, or "sheep" as some would say. So my advice would be to ride out any further downside. However, best to hold off putting new money into the market just now.

Hi Bevan, I bought the Orbis fund in April at R38 and it went up to over R43 but now back where I started and I also bought Coronation in April at R138 it went to R154 and now back at R144 and sliding! My targets are 30%+ R49 and R180 respectively so plenty of work still to do but I'm in there for the long term so prepared to wait!

So what is it best to do ride out the correction or sell in the hope you salvage a bit of damage limitation?

I'm heavily invested in CML & STX INDI plus A GRAY ORBIS GLOBAL EQUITY FUND & CORONATION INDUSTRIAL FUND

Orca mentioned R140 some time ago but not sure what sort of timeframe?

The question as to what is enough is really what your needs and wants are, and the lifestyle you want to maintain.
 Let me relate 2 stories:- My father served in the war, had a regular job and worked until age 60 and retired 33 years ago. He always owned his own house and 8 years ago sold his house and moved to a retirement village in Somerset West. His pension of R 13,000 (rental R 8,700) on the face of it plus income from R 1.4 mill met their limited needs of shelter, and sustenance. However age caught up with them and 2 years ago their entire financial needs changed:- I had to employ care givers to look after them (R 10,000 per month) rent and food and utilities remained the same, pharmacy accounts ranged between R 500 and R 1,000 per month and medical costs over and above medical aid settlements another R 300 per month. Family made a decision to relocate parents to a frail care facility at an all inclusive cost of R 22,000 per month for both parents - medical and pharmacy costs didn't change nor did income from pension or investment returns.
Was/is my parent finances adequate - I don't really know, my father passed away last month and my Mom will now experience a 50% payout on my Dad's pension but her rental is 2.2 times this income, will she survive on her and my Dad's investments - yes I believe she will for the next 4 years.
Moving to the next scenario:-
My pension is more than R500,000 per annum and I have investments of + R 3.0 million, a living annuity that I drawn down the minimum 2.5 % p.a., a house fully paid for and 2 cars (paid off). do I think this is enough - absolutely not - I have absolutely no idea what medical costs will be when I am in my 80/90's (my family has a history of long levity), what major operations I might be subjected to (bypass surgery today is astronomical) and what care I may require in the future. It is senseless considering your house as an asset, it is merely a bargaining chip for where you ultimately decide to rest your bones. So my sense is that I probably need to double or even triple my investments by the time I reach 80 which is in 13 years time.
So wealth is directly related to the lifestyle you want to live versus your needs and medical costs, and the type of medical/health care that you may require in the future - which is unpredictable. A simple experience like a stroke can change your life and circumstance dramatically.
So sit in a chair in a quiet corner of your lounge and ponder all the medical option that can befall you and then decide what is enough to sustain you
A reality check is always refreshing
           

Gcr, would I be correct in saying that if you have R3m invested (same as myself) you should be expecting around 25-30% return per annum which is somewhere in the region of R1m and added to your R500k pension is a fairly decent income going forward?

I was in the property game until the end of 2013 when a spate of bad tenants convinced me to get my equity out of three properties and start making some decent money without too much risk and no tenant hassles, maintenance issues, etc!

I really think that people believe prop investment is an easy way to get rich but I tell anyone who's thinking of going into the buy to let scenario that you must really do your homework as it's no bed of roses!

Invested in the Stx Indi, A Gray Orbis Global Equity Feeder Fund, Coronation Ind Fund, etc and doing quite well so for me there's really no arguement!   

Congrats ORCA, where's the next stop?

Interestingly my girlfriend holds a Portuguese passport she got via a grandparent I think. I wonder if I'd get one should we marry one day???

Make it a condition in the contract!!!!

Good luck with the move and hope all goes well! It's a big move and I was in the same position many years ago the opposite way around coming from the UK to SA and don't regret it for one minute and I'm sure you will feel the same after all the first month or so is going to be like a holiday and in that time you'll learn about all that's around you so very exciting!

Did you find the accomm on the expat's website as I will be over that way next year and that sort of place would be ideal.

So this must be a good buying opportunity? Just gone below R94 now!