The bad news is the equity market could fall a little more, but the good news is it is close to a bottom and enormous value is emerging.

This is the view of investment expert David Shapiro, who was speaking to a gathering of investors at a Kaya FM function on Tuesday evening, sponsored by Momentum.

Shapiro pointed out that investors must not forget that South Africa has "incredibly good managers".

"Our corporates are world class. Even our retailers have not let us down – they have managed the process impeccably," he said.

Shapiro also noted that banks in SA were in "very good shape" thanks to the National Credit Act and exchange controls.

"Shares are significantly cheaper – there is going to be a bonanza, where you will be able to get some incredible assets cheaply," he concluded.

The JSE was up 40 points in early trade on Tuesday after hitting the lowest levels seen in two years on Monday.

I-Net Bridge

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