Prudential Investment Managers
As with each September for the last few years, in celebration of Heritage Day we turn our attention to Africa’s rich history of fables. The stories many of us grew up with may not be as widely known as they once were, but they still carry many lessons that apply today. Some are even relevant to investing.
In the first story of our 2021 series, we look at ‘’Cook, Eat and Carry Me’’, a Kikuyu tale that proves modesty and respect make for the best outcome. But being too proud or disrespecting the rules won’t get you ahead. This is certainly true in the process of investing. Being arrogant or overly confident aren’t the same as being brave or successful.
In the second story of our series the Zambian fable “The Magic Anthill”, teaches the lesson that initial perceptions may not always be accurate, and shows how important proper due diligence is to avoid potentially costly mistakes.
In this third and final instalment of our 2021 Heritage Day series, we’ve chosen to focus on an enemy that every investor must face: inflation. But first, let’s look at the Xhosa fable that inspires this important investment lesson, “The Story of Fudwazana and Gongongo”.