Second edition of the celebrated guide to investing from renowned fund manager Terry Smith, with new content covering 2020–2025. Foreword by Lionel Barber, former editor of the FT.

Buy good companies. Don't overpay. Do nothing.

Some people love to make successful investing seem more complicated than it really is. In Investing for Growth, an anthology of essays and letters written between 2010–25, leading fund manager Terry Smith delights in debunking the many myths of investing – and making the case for simply buying the best companies in the world.

These are businesses that generate serious amounts of cash and know what to do with it. The result is a powerful compounding of returns that is almost impossible to beat. Even better, they aren't going anywhere. Most have survived the Great Depression and two world wars.

With his trademark razor-sharp wit, Smith not only reveals what these high-quality companies really look like and where to find them (as well as how to discover impostors), but also:

• Why you should avoid companies that abuse the English language
• How share buybacks can destroy value
• How to spot quality businesses and why you should invest in them
• What investors can learn from the Tour de France
• Why leveraged ETFs are much riskier than most realise
• Why you should avoid investing in bank shares
• His ten golden rules for investment and much, much more

Backed up by the analytical rigour that made his name with the cult classic, Accounting for Growth, this book is a hugely enjoyable and eye-opening tour through some of the most important topics in the world of investing – as well as a treasure trove of practical insights on how to make your money work for you.

No investor's bookshelf is complete without it.

From TikTok star and Your (favourite) Rich BFF Vivian Tu, the definitive book on personal finance for a new generation.

Building on the lessons she learned on Wall Street about money and the markets, Vivian Tu now offers her best personal finance tips and tricks to readers of all ages and demographics, so that anyone can get rich, whether you grew up knowing the rules to the game or not.

Vivian will be your mentor, dispensing fresh, no-BS advice on how to think like a rich person and create smart money habits, breaking down her best recommendations to help you:

• Maximize your earnings to get more out of your 9-to-5
• Understand the differences between savings accounts, and where you should keep your money
• Identify the tax strategies and (legal) loopholes you need to retire in style
• Overcome investing fears to secure wealth for generations And much more!

Rich AF will equip readers with the tools and knowledge to not only understand the financial landscape, but to build a financial strategy of their own.

The outrageous, jaw-dropping true story of the man who took on a corporate giant – and won.

A dedicated and experienced Amazon employee, Chris Smalls had begun to feel frustrated by the inner workings of the retail giant – he kept being passed over for promotion, with little to no explanation. So when his colleagues and friends began falling ill in the Covid pandemic, and with no assurances of safety or even sick leave from the top, he made the only choice left available to him. He staged a walkout with friend Derrick Palmer, eventually finding himself on the picket line without a job.

What began as a demand to keep essential employees safe in a crisis would grow into a movement devoted to achieving dignity and security for the wage worker, triggering a groundswell of organizers at Starbucks, Trader Joe’s, Apple – and across the world. We follow Smalls’s years of sacrifice and economic uncertainty as a father of three, from fighting warehouse managerial politics in an effort to make ends meet, to his ascension as the leader of a new generation’s labour movement.

When the Revolution Comes is the riveting inside story of how a young Black man from Hackensack, NJ with little-to-no resources led a scrappy band of Staten Island warehouse workers in an improbable fight against Amazon to create its first Labor Union. An exposé of life lived in the laboratory of capitalism and a terrifying depiction of what it’s like to be working class in America, this book tells a new, empowering story of what is possible when the overworked, underpaid and disempowered join together, forming a movement born in community.

Most of the research into what constitutes effective leadership emanates from the United States and is not very useful in an African context. Africa is a continent of extraordinary cultural, geographic, economic and political diversity, featuring largely emerging economies and rapid political economic and social development. This book seeks to set leadership theory in the African context.

It takes into account typical African circumstances, values and beliefs, designed for the development of leaders' skills and provides practical, real-life examples, exercises and case studies. As well as an overview of the extensive research literature about leadership, the book provides practical, real-life examples, exercises and case studies, so it can be used in a range of management development courses and/or leadership course or workshops.

The detailed insights into, and information about, how leadership can be effectively applied in the contemporary African context should help to enhance readers' leadership skills.

When it comes to money matters, are you a lioness who leads the tribe, a dolphin who ducks and dives, or an ostrich who buries its head in the sand? This first-of-its-kind book explores and unpacks the intricate world of money archetypes in Black families in South Africa.

Discover the secrets behind your unique money personality and unravel the intricate web of cultural, generational and personal influences that shape your financial behaviour. Eye-opening anecdotes, relatable case studies and expert insights empower you to understand, embrace and transcend your money archetype.

What's Your Money Personality? will change the way you view and manage your individual and family finances.

More than 60 000 readers can attest to finding Making Money out of Property an indispensable guide to investing in the lucrative South African property market. This bestselling property book has been updated to include the most current tax requirements and the latest developments relating to the local property market.

Author and property expert Jason Lee sets out every step of the property-investing process, including how to find the right deals, how to negotiate and finance a property, and whether to hold on to or sell a property for financial gain. This book focuses on some of the professionals’ best-kept secrets, such as how to utilise agreements of sale, property investment structures, financing options and key economic factors influencing the property cycle. Most importantly, it explains how to make money in both rising and falling property markets.

Making Money out of Property is a must-read for any first-time property purchaser or investor, as well as for experienced investors looking to polish their skills.

Hierdie boek is ‘n praktiese reis om die leser te neem van gegrief en verontrief oor uitdagings soos aftrede, afleggings ander soortgelyke uitdagings, tot ‘n beter verstaan van die leser self, wat sy uitdagings is, en wat daaromtrent gedoen kan word.

Inhoud en tegnieke is verpak in ‘n maklike verteerbare vorm om die leser weer op koers (Ware Noord) te plaas.

The Ultimate Business Companion CD contains all the business forms, templates and checklists that effective South African business owners and managers need to increase efficiency and growth in their businesses. The book explains how the forms fit into business processes, explains why and how each section should be completed, and guides the reader in the most effective ways to utilise the documents.

Updates to the Fifth edition include:

• All new forms and requirements for starting a business as found on CIPC website
• Forms for registration as a taxpayer and VAT vendor
• Updated marketing chapter to include new forms of reaching customers such as social media
• Updated agreements to comply with new legislation
• Updated procedures for safety in the workplace
• Updated information related to good corporate governance, specifically in terms of King Report IV
• Updated BEE info, specifically B-BBEE Codes of Good Practice

A practical guide, from the basic techniques, through to advanced applications, showing you what operational risk is, and how you can manage it.

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"Mastering Operational Risk" provides a step-by-step guide from the basic elements of operational risk through to advanced applications of operational risk management. Focusing on practical applications, it gives you the knowledge needed to understand what operational risk is and puts in place a workable way of managing it.

Worrier State looks at the pervasive culture of fear in South Africa. It reveals how narratives of fear manifest in contemporary media forms and the people they serve, and how these are impacted by race, class, gender, space and identity.

Through an interdisciplinary body of work, and using a case-based study approach, media analyst Nicky Falkof investigates how risk, anxiety and moral panic show up in media portrayals in modern South Africa. Her main intervention in this approach is through ‘affect’: how do South Africans feel about living under conditions of extreme fear, which is related to gross inequality, and how does the media make us feel? Together, these essays about ‘white genocide’, ‘Satanist’ murders, township urban legends and suburban community groups present an always-partial and necessarily contingent picture of some of the ways in which cultures of fear structure life and meaning for various people in various communities.

They show how narratives of fear underpin everyday life, informing both self-making and meaning-making in contemporary South Africa.

After unknown saboteurs toppled a strategic pylon near Lethabo Power Station in the Free State in November 2021, almost causing the country to plunge into stage 6 load shedding, Eskom’s chief executive officer André de Ruyter declared: ‘This was clearly now an act of sabotage and I think we can call it as such.’ Who was behind this, and what is their ultimate goal?

Since his appointment in January 2020, De Ruyter has faced intense opposition from within the power utility as he attempts to clean up corruption and return the electricity company to a semblance of its former glory. He is not alone. Chief operating officer Jan Oberholzer and other trusted allies in Eskom have also come under intense fire. From forensic investigations and botched probes to accusations of racism, De Ruyter and Oberholzer have spent significant amounts of time fending off allegation after allegation. Amid this onslaught, it has become clear that their enemies will take any measures necessary to have them removed from office.

Based on exclusive interviews with De Ruyter, Oberholzer and other key figures, Sabotage is a story of conspiracy and subterfuge at South Africa’s ailing power utility, uncovering the power struggles that threaten the country’s very survival.

Over the past six years, Brené Brown, along with a global community of coaches and facilitators, has taken more than 150,000 leaders in 45 countries through her Dare to Lead courage-building work. In Strong Ground, Brown shares the lessons from these experiences along with wisdom from other thinkers. This is a vital playbook for everyone from senior leaders developing and executing complex strategies to Gen Z-ers entering and navigating turbulent work environments. It is also an unflinching assessment of what happens when we continue to perpetuate the falsehood that performance and wholeheartedness are mutually exclusive.

With equal amounts of optimism and caution about AI, Brown writes, 'I hear a lot of experts trying to soothe people’s anxiety about the pace of technological change by offering platitudes like, What makes us human will ensure our relevance. This is dangerous simply because, right now, we’re not especially good at what makes us human. We’re not hardwired for this level of uncertainty, and many of us feel as if the constant need to self-protect is driving the humanity right out of us. This is why organisational transformation today must foster deep connection, deep thinking and deep collaboration. We need the courage to lead people in a way that honours and protects the wisdom of the human spirit.'

Brown offers a broad assessment of the skill sets and mindsets we need moving forward, including the capacity for respectful and difficult conversations, increased productive urgency and smart prioritisation rather than reactivity, strategic risk-taking, paradoxical thinking and situational and anticipatory awareness skills. She identifies the toughest skill set as the discipline, humility and confidence to unlearn and relearn.

Brown writes, 'Individuals and organisations are building new muscles. Finding our strong ground ― that athletic stance ― is the only thing that can provide both unwavering stability in a maelstrom of uncertainty and a platform for the fast, explosive change that the world is demanding.'

Boss Your Money is a no-fluff guide to building wealth in South Africa, written by someone who has asked all the same questions you have about work, salary negotiation, saving and investing, buying your first car or home, and more.

With honesty, humour and hard-won insights, Nokuhle Kumalo unpacks the money habits we inherit from our parents, the mistakes we make and the steps we can take to break the cycle. This isn’t about quick tips or flashy flexes; it will help you understand money and finally take control of how you earn, spend, save and build your wealth.

If financial freedom is your dream, this is your starting point to mastering the wealth creation formula.

Everywhere she looked, the world was in poor shape. And because she’d quit drinking, she no longer had the comfort blanket of alcohol to tamp down her anxiety. How did sober people stay sane?

In recent times, the self-help industry has exploded into a multi- billion dollar global industry – and along with it has come every imaginable type of therapy, healing or general woo-woo. In the past, Rebecca scoffed at this industry, mocking its reliance on half-baked science and the way it appears to prey on the mentally fragile.

But as she searched for a meaning of life that did not involve booze, she found it increasingly hard to rationalize her default scepticism. This shit really seems to work for some people, she reasoned. And it’s not like I have any particularly solid alternatives.

Rebecca lives in Cape Town, the undisputed epicentre of ‘alternative’ paths to peace and enlightenment in South Africa. She decided that over the course of a year, she would embark on a quest for personal wellness, spiritual enlightenment and good old-fashioned happiness. She was willing, within reason, to try anything. She would open herself to even the most outlandish contemporary fads in self- improvement.

What followed was a twelve-month immersion in the world of auras, chakras, hallucinogenic drugs, sweat lodges, sangomas, past lives and more.

And by the end of it? Maybe she would find some new ways of thinking and living. Or maybe she would emerge with her prejudices untouched.

Either way, it would be a good story.

Employee engagement is at the forefront of business agendas as it facilitates organisational performance. Engaged employees result in delighted customers, which in turn contribute to improved financial results.

The book address the following issues:

• What is “employee engagement” – different levels i.e. organisational, department/team, individual?
• Why is employee engagement important?
• Measuring employee engagement; the different instruments available; the different national and international approaches in measuring employee engagement; why is it important to account for context in measuring?
• High level overview of the Nienaber and Martins employee engagement framework and measurement instrument (including trust)
• The current state of employee engagement in SA
• Engagement and related human resource concepts/constructs (eg. organisational culture, commitment, citizen behaviour).

The co-founder and longtime president of Pixar updates and expands his 2014 New York Times bestseller on creative leadership, reflecting on the management principles that built Pixar’s singularly successful culture, and on all he learned during the past nine years that allowed Pixar to retain its creative culture while continuing to evolve.

For nearly thirty years, Pixar has dominated the world of animation, producing such beloved films as the Toy Story trilogy, Finding Nemo, The Incredibles, Up, and WALL-E, which have gone on to set box-office records and garner eighteen Academy Awards. The joyous storytelling, the inventive plots, the emotional authenticity: In some ways, Pixar movies are an object lesson in what creativity really is. Here, Catmull reveals the ideals and techniques that have made Pixar so widely admired—and so profitable.

As a young man, Ed Catmull had a dream: to make the first computer-animated movie. He nurtured that dream as a Ph.D. student, and then forged a partnership with George Lucas that led, indirectly, to his founding Pixar with Steve Jobs and John Lasseter in 1986. Nine years later, Toy Story was released, changing animation forever. The essential ingredient in that movie’s success—and in the twenty-five movies that followed—was the unique environment that Catmull and his colleagues built at Pixar, based on philosophies that protect the creative process and defy convention, such as:

• Give a good idea to a mediocre team and they will screw it up. But give a mediocre idea to a great team and they will either fix it or come up with something better.
• It’s not the manager’s job to prevent risks. It’s the manager’s job to make it safe for others to take them.
• The cost of preventing errors is often far greater than the cost of fixing them.
• A company’s communication structure should not mirror its organizational structure. Everybody should be able to talk to anybody.

Creativity, Inc. has been significantly expanded to illuminate the continuing development of the unique culture at Pixar. It features a new introduction, two entirely new chapters, four new chapter postscripts, and changes and updates throughout. Pursuing excellence isn’t a one-off assignment but an ongoing, day-in, day-out, full-time job. And Creativity, Inc. explores how it is done.

New results require new ways of acting. New ways of acting require new ways of looking at things … It’s called ‘reframing’, and it’s one of the most effective things humans ever do. Over the past decades, there have been amazing breakthroughs in behavioural economics. What if you could gather all the best ones in one place? An entire book packed full of ‘smart-cuts’…?

Steve Jobs once made an interesting point: ‘Animals in the wild may be more energy-efficient than humans. But put a guy on a bike, and he blows past all of them.’ That’s because technology is ‘like a bicycle for the mind.’
Turns out, the landscape is littered with bicycles. Adopt the principles and you can do almost everything faster and better. Here you will find direct answers to questions like: ‘How do you get the most out of your brain?’, What’s the best way to structure a team?’ or even, ‘How can our business be ten times cheaper or ten times faster than an industry giant?’
 
These insights are gamechangers. They come from trusted sources and work in the real world. Here is a condensation of the best brilliant breakthroughs across a range of spheres, in one easy guide. Whether you are chasing personal goals, leading teams, persuading others or are merely interested in clever ways of living the human experience, you will pick up dozens of ingenious accelerators within the pages of  Wicked Smart.

Are you looking to start a business? Build your entrepreneurial mindset? Helping you from start to finish, this comprehensive, practical and user-friendly book contains everything you need to know about starting a business.

As well as assessing and finessing your idea, you’ll learn about marketing, sales, finance, legal structures, and operations. You’ll also discover how to build your entrepreneurial mindset, and confidence and avoid common pitfalls.

With case studies and interviews from other successful business owners, you’ll feel equipped to make your start-up a success.

"A force of nature! Alexandria Procter will go far." - Bruce Whitfield

At 25 years old, Alexandria Procter became one of South Africa's youngest tech startup wunderkinds.

As an undergrad student at UCT, Alexandria came up with the idea for DigsConnect, similar to an Airbnb for students. Deeply affected by the violent student protests which swept university campuses in 2016, Alexandria created a website in 2018 that would address the tumultuous student housing crisis. In 2019 DisConnect disrupted the local tech terrain by raising R12 million in its first seed fundraising round, one of the largest in South Africa ever. DigsConnect has subsequently transformed from being a local student accommodation startup to catapulting into the global fourth industrial revolution.

Born in a small town in the Eastern Cape at the same time as South Africa's democracy, Alexandria's school career was characterised by defiance, rebellion and Friday afternoon detentions. Never one to toe the line, Alexandria dared to shoot for the stars.

While Upstart is a deeply personal memoir, it also offers priceless business insights and advice around startups and new tech, especially for the burgeoning African tech startup ecosystem. A unique and inspiring story.

"This girl is going places and whatever she does in her life is going to be brilliant!" - Luke Nolan, founder of Student.com

Includes personal anecdotes, case examples, and vignettes with short, concise chapters making this book easy reading for the busy executive.

At this critical junction in the history of humankind, leaders that are proficient in magical thinking aren’t going to solve our problems. Creating alternative realities is not the answer. We need a very different kind of leadership―leaders who can resist the calls of regression and whose outlook is firmly based in reality. We need leaders who analyze and draw conclusions from, or use their own experiences as a development tool, face their strengths and weaknesses, and critique their own experiences in order to build new understandings.

In this very personal and entertaining book, Manfred Kets de Vries, one of the “gurus” in the field of leadership studies offers his thoughts on leadership and life, reflections written for executives and the people who deal with them. As a psychoanalyst and leadership professor let loose in the world of renowned global organizations―as a passionate educator and scholar, or just a human being at the receiving end of heart-rending emails―he examines the pitfalls of leadership and the challenges for the professionals who work with senior executives in today’s AI-focused world.

He points out why leaders can derail, and what steps they can take to prevent this from happening. Ultimately, this book encourages you to “Know yourself,” but makes no bones about the challenge it represents. Understanding our “inner theatre” will always be an uphill struggle. Kets de Vries points out why deep dives into our inner world are always fraught with many anxieties.

Included in the many subjects covered by the author are the loneliness of command, the management of disappointment, the destructive role of greed, the impact of stubbornness, the role of storytelling, the importance of wellness, and the role of corporate culture. In addition, the book addresses the important topic of how to create great teams and best places to work. Furthermore, the book touches on endings– the ending of our career and the growing realization of the inevitable ending of our life. As time grows short, Kets de Vries emphasizes that we have no time to lose in dealing with our anxieties, regrets, and the things we spend much of our life determined not to see.

Taking a deep dive into self-knowledge requires courage and support, and he is here to guide you through it.

"My name is Samantha and I’m an alcoholic. At the time of writing, I’ve been sober for 13 years, 11 months and 16 days. And yes I still count. I promised I would never speak about it publicly until my children understood what that meant, that mommy was an alcoholic. I think they may have understood long before I did."

From Whiskey To Water is the no-holds-barred memoir by one of South Africa’s most loved radio talk show hosts, Sam Cowen. Having kept her alcohol addiction well away from the public eye for over 14 years, in this tell-all tale, Sam finds the courage to talk about her struggle with her addiction to whiskey, food and finally to a passion that saved her life – marathon swimming. Told in her characteristically hilarious dead-pan style, this is one of the bravest books you’ll read this year.

"So this is a book on how I stopped drinking? No, it’s not. It’s how I stopped drinking, started eating, became clinically severely obese, stopped eating (everything that wasn’t nailed down) and swam my way to freedom. No, it’s not. It’s actually about addiction and learning and sadness and anxiety and love and drive. It’s about channelling the unchangeable into the miraculous. It’s about dragons and learning how to put them to sleep when you can’t slay them. It’s about being my own Daenarys."

'An invaluable resource for making sense of the world, making good decisions, and placing smart bets. A fast-paced and fun read jam-packed with useful information on every page.' Annie Duke, author of Thinking in Bets ________________ Turn yourself into a superthinker and make the right decisions every time. You want to make better decisions. You want to be right more of the time professionally and personally. However, being more right consistently is a hard problem because the world is such a complex, evolving place. How do you navigate this complexity? Mental models are decision-making tools that guide our perception of the world and our behaviour in it. They help us understand life, make decisions and solve problems. The best models help us make intelligent investments, develop ground-breaking technologies and even travel to outer space. - Note your frame of reference before debating someone with different political views. If you understand how your perspective contrasts with someone else's you can prevent the conversation from getting hostile. - Apply the sunk cost fallacy to the end of a doomed project. Just because you've put a lot of hours into it doesn't mean that you have to keep going. - Before blaming someone, consider Hanlon's Razor, 'Never attribute to malice that which is adequately explained by carelessness'. - Try to solve mysteries with Occam's Razor, 'Among competing hypotheses, the one with the fewest assumptions should be selected'. When you hear hoof beats, think of horses not zebras. Building on our knowledge of well-known models such as the Bandwagon Effect or Paradigm Shift and introducing us to the lesser known like the Eisenhower Matrix or the Boiling Frog Symbol, this indispensable book distils the most effective mental models into a single, digestible volume. It will make even the most complex models accessible and engaging to enable you to make better, more informed decisions in every part of your life. ________________ 'Internalizing these mental models will help you understand the world around you. Once you can spot them, you can change your own behavior to avoid common traps, adjust how you interact with people to get better results, and maybe even articulate new mental models of the world that have yet to be discovered.' Brian Armstrong, co-founder and CEO, Coinbase 'You can't really know anything if you just remember isolated facts. If the facts don't hang together on a latticework of theory, you don't have them in a usable form. You've got to have models in your head.' Charlie Munger, vice chairman, Berkshire Hathaway

So you’ve come up with a winning idea for a product to sell online. What now? How do you turn your idea into a successful e-commerce business?

Selling Products Online is the book for you. Brought to you by Heavy Chef and Payfast, this guide gives you everything you need to start an e-commerce business in 10 practical steps – and you don’t have to be an expert on websites, advertising or logistics to get going.

It is designed to support you on every step of your e-commerce journey and will show you how to:

• Find your customers.
• Set up your e-commerce store.
• Take online payments.
• Sell on existing platforms.
• Attract more customers.
• Fulfil online orders.
• Manage stock.
• Serve your customers.
• Make a profit.
• Build your team.

Heavy Chef sat down with some of South Africa’s pre-eminent entrepreneurs to fill these pages with real, practical advice from experts who’ve beaten their own paths to success in e-commerce. You’ll hear from the brains behind some of South Africa’s most-loved brands, including Faithful to Nature, Payfast, SnapScan, Yuppiechef, and many more. They’ll answer all your questions about selling products online in concise “bites” – as if you’re sitting down to coffee with them.

Go on. Tuck in

It's time to leapfrog the only hurdle between you and a million-dollar company.

More people than ever want to be their own boss, but venturing forward with your own business can be hugely intimidating. Are you investing effort in ideas that have no basis in customer demand? Are you shying away from even considering starting your own business? Noah Kagan knew this feeling all too well, but has since discovered how to banish the one simple thing holding aspiring entrepreneurs back, to become a 7-figure founder.

MILLION DOLLAR WEEKEND offers an into-the-deep-end process for overcoming fear and perfectionism and making the business of your dreams a reality. Step-by-step, Noah shows what it takes to oust fear and build the "ask muscle", and shares practical advice that every entrepreneur needs to master. By demystifying what it takes to start a business, turning risk into realistic action and fear into fun, this is the beginning of your journey to successful entrepreneurship.

And the best part? You can kickstart this process in a weekend.