Netflix is ​​a phenomenal story – Magnus Heystek

Brenthurst Wealth Management founder Magnus Heystek will lead the market insights on Wednesday with the investment strategist explaining his inability to promote cryptocurrencies as an asset class as it is an unregulated market. Netflix hit new all-time highs, as a result of Squid Game’s popularity, the Korean show has been widely debated, with Americans apparently consistently insisting on leading the way from an innovation perspective. China, executive compensation and the takeover of Absa’s investment business by Sanlam round off the conversation. – Justin Rowe-Roberts

Magnus Heystek on cryptocurrencies:

First of all, I can’t. I do not recommend it to my customers. It is not a regulated product. And if it goes up, my business, reputation and probably money goes up. I clearly cannot recommend it as a product. But I like to stir the pot a little. I love these reactions from these converted crypto-coins and I like the debate. I mean, where is the value of a crypto coin? Maybe i’m wrong Maybe I miss it. Maybe it’s on the demand side. Maybe I’m missing something as opposed to an intrinsic value so that we can have a very wide-ranging debate about it – fiat currencies and where does the value come from? And the dollar is in decline and the pound and so on. I like to stir these things up, but I’m not yet convinced that a bitcoin or any other cryptocurrency has intrinsic value as opposed to something like a cow that can be milked or you can slaughter.

On Netflix’s ability to innovate:

Well, the Netflix story is, of course, a phenomenal story. I’m reading the book on Netflix right now, and it just so happens that the Netflix boss is my neighbor in South Africa. We talked for a long time about the strategy in South Africa and he is not an American. He is a Nigerian, raised in the UK and lives in South Africa. I thought their strategy was just brilliant. What they did – and it made a lot of sense – and I’ve seen a lot of their productions that are set in a specific country, be it Iceland or Norway or even South Africa. Other than being a great story and a great cast. It also brings in the cultural and historical aspects of many countries that attract people from a wider spectrum as opposed to a story based solely on America. So I find it fascinating. I mean, we addicts to Netflix.

Regarding the signals from the Chinese government:

We have to try to fully understand it, and I don’t think we are. I’ve read many comments on the matter from American and British commentators who say they are trying to decipher what the Chinese government is trying to do. By and large, the Chinese government does not communicate very well. Or maybe that’s their conscious strategy. I saw this fascinating interview from George Magnus from the China Study – I think it’s at Oxford University – and that was a fascinating interview. Here is an expert who has been studying China for 30 to 40 years. The message that came over is that, as a Westerner, you will struggle to understand what China is trying to do because China thinks differently from the West. Your strategy is different. Their attitudes towards life and problems are different. So you have to put on a Chinese thinking cap to try to understand what is happening in China.

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