BNC#9 | Wrap-up panel: Joburg, Zuma, AI, JSE v S&P, gold, small caps, and conference highlights artwork
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BNC#9 | Wrap-up panel: Joburg, Zuma, AI, JSE v S&P, gold, small caps, and conference highlights

Sep 11, 2026 · 32:15

At the close of BNC#9, Alec Hogg sat down with David Shapiro and Piet Viljoen to unpack the conference. Viljoen made the numbers case for South Africa: bar the two big banks, every stock in his portfolio trades at a discount of thirty percent or more to what he thinks it is worth, and the market is effectively paying investors fifteen percent a year just to stay put. Shapiro made the human case, a…