Nick Hudson on Censorship
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PAGE 3 PAGE 6 PAGE 9 PERSONAL FINANCE// OPINION// COVID-19// SPONSORED// FREE LUNCH OF THE ANC DETERMINED TO SICK UNTIL PROVEN GOOD MONEY HABITS INVESTING WORLD GO AHEAD WITH NHI HEALTHY - PANDA TO BUILD WEALTH BizTHE RATIONAL PERSPECTIVENewsDigest WWW.BIZNEWS.COM SATURDAY 26 JUNE 2021 BIZNEWSCOM ‘We are entering very dark times’ BRIEFS SA lost – Nick Hudson on censorship R1.5trn The Free Market Foundation has presented its very first award to PANDA co-founder Nick Hudson for freedom of expression, to corruption decentralisation, and an evolutionary approach. BizNews founder Alec Hogg caught up with Hudson to unpack what the award in five years means to him and the rest of the PANDA team. “It’s been a long, hard struggle and a lot of the people at PANDA have put up with enormous risks and challenges to their livelihoods and careers,” Hudson explains. “So to have this recognition for them I think is particularly welcome and important.” – Claire Badenhorst Gautrain Nick Hudson on the award the beginning has been that the commuter PANDA received from the Free response has been disproportion- numbers down Market Foundation ate and later on the response has “It was a delightful surprise, yes, actually worsened the situation. 76% and we had a wonderful evening So it’s rather strange to attack last night with a fairly lengthy people who take this perspective due to Covid-19 presentation and [I] thoroughly and support it with data and enjoyed it. I think true to their quality scientific perspectives colours, they were looking at the and somehow refute it by things Bitcoin drops work that PANDA had done and getting very bad in a country that our fight against dogma and a has had amongst the most insane below very bigoted version of science, policy responses on the planet.” and I think they saw in that $30,000 something that was consistent On what happens to PANDA next with the values of their organi- “We carry on fighting. With every for first time sation, and I think it was on that passing day, people come around since Jan basis that the citation reads as it to our view and begin challenging does and they decided that the © Zapiro (All Rights Reserved). Originally published in Daily Maverick. the narrative that they’ve been members of PANDA deserved fed. They begin seeing that what Attacq to add the recognition and it was very our academic institutions and who looks at the data has a dif- public health officials all around welcome. You know, it’s been a public health institutions and this ferent interpretation and sees the the world have done is to pro- R500m long, hard struggle and a lot of notion of science as an authoritar- world differently from the average mote a narrative of fear – fear the people at PANDA have put ian concept, as there being such a person. You know, they’re at risk that causes people to possess a micro apartments up with enormous risks and thing as settled science, as science of being cancelled and censured completely distorted perception challenges to their livelihoods is something that you should and bullied, really, by these peo- of risk. The fear is always going in development to and careers. So to have this follow, almost a trademarked ‘the ple who are doing something that one direction, which is towards Waterfall City mix recognition for them I think science’ kind of concept. And it’s couldn’t, in any normal world, be overestimating risk and, you is particularly welcome and very antithetical to what science is described as scientific. know, in those circumstances, important.” actually about, which is conjecture Well, it’s symptomatic of the it’s terminal to critical thinking and criticism, dissent and debate, really weird thinking of a lot and to the ability to make wise Old Mutual On why people at PANDA are driving the formation of new of our critics because none of decisions and evaluate risk appro- under pressure knowledge, the creation of new what we have to say is anything pr i at e l y.” investors to share “There’s a very strange authori- knowledge. It’s in that authoritari- to deny the existence of Coro- tarian aspect that has infiltrated an environment where somebody navirus. Our perspective from Listen to the full interview R10.4bn of Nedbank stock Subscribe here for your weekly BizNewsDigest Subscribe now 2 | SATURDAY 26 JUNE 2021 WWW.BIZNEWS.COM SA INVESTING Brakes put on SA’s economic recovery – Heystek he ever-outspoken Magnus Heystek adds his value as co-host of the DOWNLOAD THE FREE BizNews Power Hour, outlining Ta number of sad realities faced by South BIZNEWS.COM APP Africa’s economic recovery. The painfully slow rollout of Covid-19 vaccinations has caused infections to balloon in many parts of South Africa, causing paranoia that we may be headed for further lockdowns. Magnus warns that if lockdowns are extended BN indefinitely, many businesses in some of the hardest-hit sectors will not have the resources to see through this never-ending nightmare. – Justin Rowe-Roberts Click on the links below to download your own free Magnus Heystek on the impact of further BizNews.com App lockdowns as a result of the third wave “It does have an impact – there’s no question about it. If I look at my consumption behaviour, no more going to restaurants, no more going to the supermarket, and if you © Zapiro (All Rights Reserved). Originally published in Daily Maverick. take that nationally it will have an impact. It’ll affect people who are already the hardest hit given the slow vaccine rollout On government’s stranglehold of power in terms of earning an income and keeping a “We need the wealthy tourists in South Africa, “It’s the way the government is controlling job, unfortunately. I’ve seen some commentary especially the Western Cape, Kruger National the narrative. The so-called family chats our from Deutsche Bank saying that there may Park, KwaZulu-Natal – we need the dollars. president has with the nation is one way experts around him and that is very frustrating be question marks regarding our economic And we are not getting those dollars. There’s communication – you guys sit down and because there are numerous questions people recovery as a result of the slow rollout.” been a massive adjustment in those sectors shut up and I’ll talk. There is no way that a want to ask.” and some people simply won’t make it if this free press or a critical analyst can question On the negative economic effects on tourism lockdown is extended indefinitely.” President Ramaphosa or his collection of Listen to the full interview Brait’s chief executive talks the turnaround story nce the darling of the local bourse, Premier, New Look and Consol. These are Brait’s fall from grace over the past really high quality assets. So I suppose the few years has been nothing short of risk that people have coming in is whether Odisastrous. The private-equity powerhouse we are right about our valuations – I am turned debt-laden investment house has left relatively confident of that. I think another a sour taste in many portfolio managers’ issue which people rightly raise is the level mouths, with value destruction totalling of debt within Brait – at a holding compa- hundreds of billions of rands. Peter ny level as well as an operating company Hayward-Butt has the unenviable task of l e v e l .” getting the once juggernaut back on track and formed part of the BizNews Power On the performance of Virgin Active through Hour on results day. Peter, an ex-investment Covid-19 banker and also chief executive of Ethos Private Equity, was quietly confident “It’s a high quality portfolio of different on the performance of the underlying territories – it’s a household name in South businesses throughout the Covid-19 period, Africa, it’s a high quality business in the UK, maintaining that company has a number of it’s got a dominant position in Italy and it Illuminated signs hang on the exterior of a New Look clothing retail store, owned by quality businesses within the Brait stable. operates in the Asia-Pacific region, that being Brait SE, in London. Photographer: Luke MacGregor/Bloomberg – Justin Rowe-Roberts Singapore, Thailand and Australia. It really is a global business in the health and wellness Peter Hayward-Butt on the new look (no pun world has changed and that was the start of On the heavy discount to net asset value in space. Covid-19 has been a disaster for the intended) Brait a bit of a downward spiral in terms of the net the Brait share price business. That being said, I think management asset value per share of the company. Ethos has done a great job in pulling it through over “Brait has a great history. It’s obviously had a was lucky enough to come in as parts of the “We do a huge amount of work with third the last 12 to 15 months.” troubled last four or five years but it has a great rights issue around a year ago. It’s early days parties to ensure that our net asset value history. The start of the troubles were when for us but we’ve taken over a great portfolio is as close to fair value as what we believe. they bought into New Look – at the time it of assets. There’s still lots of work to be done I think we’ve got a portfolio of four really Listen to the full interview seemed a great place to be.