Investment diamonds are definitely in demand ...it’s a very good store of value, especially in dollar terms....but you really need to understand your investment strategy: Yair Shimansky – CEO of Shimansky on MoneywebNOW Download the podcast
SIMON BROWN: I’m chatting now with Yair Shimansky, CEO of Shimansky. We are talking diamonds. Yair, I appreciate the early morning time…. Let’s touch off first [with] the war that we are seeing in Ukraine-Russia. Is that impacting the supply of diamonds? Are they major producers much?
SIMON BROWN: These other countries such as South Africa, Botswana, Canada, as you mentioned, would they easily be able to pick up that slack? I know in the oil world the idea that you can quickly produce more oil is a nice theory, but in practice it’s not quite that easy. The demand is definitely on the rise, even for the long term, because the Russian invasion into Ukraine doesn’t look good in the eyes of the Western world. So people will opt to buy diamonds from those countries [whose ethics they approve of].
Investment diamonds are definitely in demand and on the rise. It is a different category, especially because it is a hard asset, it is very portable. If you look now, in the world there are a lot of billionaires from Russia and other places [whose] assets have been seized from their apartments, from frozen bank accounts. A diamond, you can put it in your pocket and literally make it portable anywhere in the world.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
A South African bought a second-hand diamond bezel Cartier watch last year – for R300,000 | BusinessinsiderOther items include a Louis Vuitton denim jacket sold for R24,000 and a Cartier bracelet that cost R90,000.
Read more »
A viral slap, historical wins and more - here's everything that happened at the Oscars | ChannelDeaf family drama CODA won best picture honours at the Oscars in a ceremony that was overshadowed by best actor-winner Will Smith striking comedian Chris Rock on stage.
Read more »
Global and local markets positive since war startedICYMI: Today on the MoneywebNOW with SimonPB,Sanlam’s NickKunze2 talks markets. Futuregrowth on the prospects of nuclear power for SA and Shimansky_ on the impact of the war on diamond supply. Download the podcast:
Read more »
Spar’s update on broker call raises eyebrowsJSE to investigate after group briefs select group of investors on latest sales figures
Read more »
Spar’s update to select investors may have violated listing rulesJSE to investigate after group briefs select group of investors on latest sales figures
Read more »
Spar’s update to select investors may have violated listing rulesJSE to investigate after group briefs select group of investors on latest sales figures
Read more »