There won’t be too many investors on the JSE emerging from the wreckage of 2022 with broad grins and bulging purses.
It was a year to forget. The spectre of high inflation and a lingering recession was already enough to give investors indigestion, but after Russian President Vladimir Putin’s invasion of Ukraine in February, and China’s brutal response to Covid flare-ups, markets became a minefield...
The only problem is that stocks of defensive companies are not defensive at all.
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