![\"\"](\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/03\/Magnus-Heystek-Investing-South-Africa-SA.jpg\")
<\/a><\/figure>\n\n\n\nOver the years, many South African investment specialists and fund managers have criticised Heystek for his negativity towards South African investments.<\/p>\n\n\n\n
Some critics have even labelled him Doctor Doom because they argue that he is too negative toward local investments.<\/p>\n\n\n\n
However, Heystek was proven right. International equity returns, especially those of the S&P 500 and Nasdaq 100, dwarfed those of the South African market.<\/p>\n\n\n\n
Speaking at the 2025 Biznews Conference<\/a>, Heystek said he wears the Doctor Doom label with pride.<\/p>\n\n\n\n He explained that getting the truth about South Africa to the investment community has been very difficult.<\/p>\n\n\n\n \u201cThe media has been manipulated, the big corporations are too scared to speak out, and economists at the big banks get fired if they speak the truth,\u201d he said.<\/p>\n\n\n\n He said the 2025 Budget is a good example. \u201cThe South African budget has failed year after year,\u201d he said.<\/p>\n\n\n\n The Finance Minister has failed to grow the economy and stimulate the business environment. \u201cWe can see it in the numbers,\u201d he said.<\/p>\n\n\n\n \u201cSouth Africa\u2019s gross domestic product (GDP) per capita is the same today as in 2007. This is why South Africa has such a high unemployment rate,\u201d Heystek said.<\/p>\n\n\n\n He added that South Africa is one of the most difficult countries to do business in, and the economy has failed to recover properly since the pandemic.<\/p>\n\n\n\n \u201cThe truth is that South Africa has not been a great investment destination. This is what global fund managers are saying,\u201d he said.<\/p>\n\n\n\n \u201cYear after year, there have been net outflows of South Africa\u2019s equity markets. That is what the world says about the local economy.\u201d<\/p>\n\n\n\n Heystek said he works for his clients, and they expect the truth to ensure that they achieve good returns on their investments.<\/p>\n\n\n\n He added that South Africa allows citizens to externalise their wealth, which worked exceptionally well for Brenthurst\u2019s clients.<\/p>\n\n\n\n Heystek said his negativity towards the local stock market remains. \u201cI cannot yet make a case for investing in the South African stock market,\u201d he said.<\/p>\n\n\n\n \u201cThe South African equity market is under severe pressure and will remain so, considering the 2025 Budget,\u201d he said.<\/p>\n\n\n\n In contrast to the stock market, he said the South African bond market, which produces phenomenal returns, is a much better place to invest.<\/p>\n\n\n\n Brenthurst Wealth Management director Magnus Heystek, known as Doctor Doom due to his pessimism regarding local investments, proudly wears this moniker.<\/p>\n","protected":false},"author":10,"featured_media":817102,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9880],"tags":[11270,9359],"class_list":["post-817100","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wealth","tag-brenthurst-wealth-management","tag-magnus-heystek"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/817100","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=817100"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/817100\/revisions"}],"predecessor-version":[{"id":817112,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/817100\/revisions\/817112"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/817102"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=817100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=817100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=817100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n\n\n\nUS Dollar versus South African rand chart<\/h2>\n\n\n\n
<\/a><\/figure>\n\n\n\n
\n\n\n\nJSE Top 40 chart for 10 years<\/h2>\n\n\n\n
<\/a><\/figure>\n\n\n\n
\n\n\n\nS&P 500 chart for 10 years, in US Dollars<\/h2>\n\n\n\n
<\/a><\/figure>\n\n\n\n
\n","protected":false},"excerpt":{"rendered":"