Editor's Thoughts.

2026 just keeps coming at us. I very naively asked in my Scoop on Friday, if that could happen (referring to the Donald’s suspension of a red card at the FIFA World Cup) what else could happen? Well, it seems the POTUS had more in store for us mere mortals who feel the consequences of his real life game of Minecraft.

In summarising last week’s markets, Bianca Botes (Citadel) reminds us how quickly the “soft landing” story can unravel. Donald Trump’s announcement that the Iran peace deal is “over” has pushed oil higher, nudged global inflation expectations up and revived the prospect of higher‑for‑longer interest rates (sad face). For us South Africans, that’s an imported inflation warning: fuel, food and transport feel it first, and the SARB’s recent rate hike suddenly looks more like a shield than a mistake.

Charles de Kock (Coronation) offers the counterpoint: a tentative peace dividend from lower oil (that’s so last week) and strong AI‑driven equities, but layered over stubborn risks – war in Ukraine, high global debt and sticky inflation. His answer is less macro guessing, more patient stock picking, especially in a low‑growth SA.

Away from markets, Nicole Martens (Just Share) argues that shareholder activism isn’t just AGM noise; it’s a governance feedback loop, asking whether boards’ climate, pay and transformation promises actually show up in capital allocation and accountability.

And in the pensions world, Lize de la Harpe’s (Sanlam) case note is a sharp reminder that being “named” on a form doesn’t guarantee a share of a fund death benefit – dependants and nominees have a right to be considered, not a guaranteed slice, especially if they die before the trustees decide.

If 2026 is teaching us anything, it’s that markets, savings and life do not unfold in a neat straight line. What does that mean for the importance of advice?

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