The SA Inc Comeback: Why We’re Betting on South Africa

Northstar BCI Equity Fund Commentary for Q3 2025 A light-hearted start, but a serious message: discipline and deep research still win. Marco unpacks how our bottom-up process guided capital allocation in a quarter marked by extremes — from AI optimism offshore to precious-metal rallies at home. The takeaway? Stay patient. Stick to process. Focus on value that compounds over time.