Money Matters

January 2026

Welcome to our First Newsletter of 2026.

2025 proved to be a stellar year for global equities, despite significant geopolitical tensions and tariff-related headwinds earlier in the year. The rand strengthened to a three-year high, and investor confidence remained resilient despite ongoing political debate around BRICS relations.

With Markets at record highs, many investors continue to focus on a central question, is a major market correction imminent? History suggests that constantly positioning for a crash causes more long-term harm than market corrections themselves. Re-entering the market in time to re-capture the markets strongest days is difficult because 80% of investment returns occur on just 2% of the days invested. This means disciplined participation matters more than prediction.

Alongside investment uncertainty, family structures are becoming increasingly complex. We include an article exploring the often-overlooked estate planning complexities faced by blended families. Together, these pieces highlight a common theme, whether in investing or estate planning, disciplined structure and forward-looking decisions matter more than reacting to short-term uncertainty.

We hope this edition provides useful perspective as we enter the year ahead. As always, our team is available should you wish to discuss how these themes apply to your personal circumstances.

Due to a recent attempted cyber fraud incident involving our client, we thought it would be valuable to revisit this important topic. Over the past few years, we have seen a growing number of attempted cyberfraud incidents involving our clients. With the rapid rise in AI-driven tools, these attempts are becoming more sophisticated, more convincing, and far harder to detect. While we at Stone Wealth Management have implemented extensive safeguards to protect our systems, our clients may not have the same level of technical protection. For example, a fraudster could access a client’s email account and send a message that appears to come from Stone Wealth Management. While our email systems are secure, they cannot protect your personal inbox. Your email security is therefore just as important, and we have provided several practical suggestions below to help strengthen it.

Blended families, which often include stepchildren, biological children, and children from new marriages, present unique estate planning challenges. Without careful structuring, unintended consequences can arise. Ensuring fairness, preventing disputes, and protecting the financial well-being of all family members requires thoughtful planning.

With equity markets sitting near all-time highs, it’s natural for investors to feel uneasy. For clients who have recently entered the market, the concern is often, “What if a correction is around the corner?” For those who have been invested for longer, the temptation may be to “bank profits” and wait for a better entry point.

These reactions are understandable. But history shows that acting on them is often more harmful than helpful.

Most balanced portfolios have meaningful exposure to equities, both locally and offshore. That exposure is intentional. Equities are volatile in the short term, but they remain the primary driver of long-term growth. Peaks and troughs are simply part and parcel of the investor’s experience.