BNC#9 | Piet Viljoen cuts through the BS: What actually drives your returns (it's not complicated)

He's run money through three decades of market cycles, from Allan Gray to Investec to his own boutique, RECM. Now Piet Viljoen stands in front of a room of investment professionals and calls a chunk of his own industry's output, by his own word, bullshit. Jargon, product complexity, benchmarks, forecasts, fee layers: Viljoen takes a scalpel to each one and asks a single question of every part of…