BACKSTORY: David Lerche of Sanlam Private Wealth

What’s your one top tip for doing a deal?

A bad deal is 10 times worse than no deal, so do your research thoroughly to have confidence in the terms of the deal, and be willing to walk away if it doesn’t meet them.How much was your first pay cheque, and how did you spend it? About R3,400 — this was in 2004. I and a group of colleagues who were also fresh out of university went to a nightclub.There are so many smart people out there — what will make you stand out from the rest are work ethic and passion. Corruption, at various levels of society.I once found the strength to lift the front end of a Toyota Tazz off the ground to impress a girl .I believed the management team of a micro-cap company when they told me what they would achieve.

Was there ever a point at which you wanted to trade it all in for a different career? And if so, what would that career be? I’ve been lucky enough to really enjoy my time in asset management. But if I were to do something else, I would be a car mechanic.I would institute extreme penalties for corruption. I would also liberalise all aspects of education.

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