Weekly Thoughts 19 July 2013

I had a great two days with the Marriott Asset Management team in Lesotho last week. We debated issues at length. Speculation on the exchange rate was mentioned, the massive amount of unsecured lending in South Africa was chatted about and what the Chinese might be wanting from helping Lesotho fix their gravel roads and bridges which we witnessed along our route. I was also able to offer some thoughts for things I wanted to see for clients.

My Conundrum question was debated a couple of times too, with the final answer being wrapped up while sitting together with one of the Investment Professionals on the side of a rough Lesotho ‘road’ next to our motorbikes waiting for the others to catch up. He gave it to me simply and decisively.
It was a beneficial time.