During the past two weeks the share markets have bled like a wounded buck. Some made some money in the volatile financial markets, and some lost big time. In South Africa the currency got a hiding against major currencies, and at one stage the ZAR was trading at way over ZAR11.00 to the USD1.
Today the markets had a bit of a pull back from the bleeding, and the USD lost about ZAR0.50. At this stage it is way too early to predict if the ZAR will continue its run against the USD. If it does, a lot of the savings on hunting in South Africa could be lost within a couple of weeks.
Yeah, sure, everybody were scared by the seemingly economic meltdown. I thought it was not a meltdown, but merely a correction in share prices. The next 10-15 days will probably tell us whether there is cause for further worry, or whether it was a correction. Corrections happen every 7-10 years, and we were due for such a corrections. I just think that nobody was prepared for the scale of the correction at this time.
However, time to save on your hunt in South Africa might be running out. But who knows?
