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By Suzean Haumann*
I work alongside a force in the wealth management industry, someone I look up to and turn to for advice and guidance, Magnus Heystek. He recently tweeted that he has experienced several market crashes (the last 7 to be exact) and in his opinion, the current market correction is the worse in its global impact. Unlike veterans of the industry, I have only experienced three of these during my career in financial services; the aftermath of 2008, Covid-2020 and (I call it) HURRICANE 2022. Below is a summary of the past market corrections since 1929 – the 2022 correction isn’t the worst by far… so why does this one feel SO bad?
| Past market corrections | ||
| Start | Months lasted | S&P 500 Change |
| September 1929 | 32.8 | -86.20% |
| March 1937 | 61.8 | -60.00% |
| May 1946 | 36.5 | -29.60% |
| August 1956 | 14.7 | 21.50% |
| December 1961 | 6.5 | -28.00% |
| February 1966 | 7.9 | -22.20% |
| November 1968 | 17.8 | -36.10% |
| January 1973 | 20.7 | -48.20% |
| November 1980 | 20.4 | -27.10% |
| August 1987 | 3.3 | -33.50% |
| July 1990 | 2.9 | -19.90% |
| March 2000 | 30.5 | -49.10% |
| October 2007 | 17 | -56.80% |
| March 2020 | 1.1 | -33.90% |
| 2022 | … | -23.80% |
In my opinion, the current market conditions are hitting investors harder because of everything else that is happening globally. The world was still recovering from a 2-year global pandemic and suddenly, we were facing a war in Eastern Europe, rampant high inflation, and sky-high interest rates. Mentally everything became just too much too soon. We are experiencing higher fuel, food and electricity prices, not to name the constant load shedding that is not helping South African businesses or its people. It is a depressing scenario.
So, what do I do and what is my advice to my clients?
As mentioned, I joined the industry in the aftermath of the 2008 crash, the 2020 crash was over so quickly, and the subsequent market growth was so phenomenal that most investors almost forgot the February-March 2020 blip. Through all these episodes we (I) have been urging our clients to not make any emotional and rash decisions. It is better to stay on course and keep your investment objectives in mind. Certain changes within a portfolio are sometimes required but selling everything and moving into cash is never the answer. Following big market corrections in the past, the world has seen astounding growth between these double-digit corrections. To name a few: 1991 to 1997 the S&P delivered 302% growth, in 2003 to 2007 the S&P delivered 112% growth and the graph below shows the recovery between March 2020 to December 2021.
If an investor sold out at the bottom in March 2020, they would have missed some of the biggest market recoveries. Unfortunately, we don’t have crystal balls and we can’t predict when the markets will bottom out or when the recovery will start, therefore our advice remains to stay invested because the chances that you “call” the market correctly is very slim.
So, if market volatility feels scary and makes you second guess your long-term investment strategy, have a good think before you get out of the market. There could be a 70% chance you’ll miss one of the best days. Wealth is not created in a year; it is created over decades.
* Suzean Haumann, CFP®, is Head of Brenthurst Wealth Tygervalley.
Megan joined the Brenthurst Wealth team in March 2026 as an Administrative and Fiduciary Services Assistant at our Val de Vie Office in the Western Cape. Prior to joining Brenthurst, Megan gained three years of experience in the retail sector, where she developed management and client service skills.
I obtained my National Diploma in Financial Information Systems from the Cape Peninsula University of Technology in 1999 and have worked in the wealth management industry since January 2000. Over the years, I have gained extensive experience in various roles, including Portfolio Manager Assistant, Planner Assistant, and Paraplanner.
Esmarelda Isaacs-Andreas joined the Brenthurst Wealth Stellenbosch office in October 2025, taking on the dual role of Receptionist and Fiduciary Administrator.
I obtained my National Diploma in Financial Information Systems from the Cape Peninsula University of Technology in 1999 and have worked in the wealth management industry since January 2000. Over the years, I have gained extensive experience in various roles, including Portfolio Manager Assistant, Planner Assistant, and Paraplanner.
Ashley joined Brenthurst Wealth in January 2025 as Office Administrative Assistant and Receptionist for the Stellenbosch Office.
René Heystek joined Brenthurst Wealth in November 2023, as receptionist and administrative assistant in the newly established George/Garden Route office.
Michelle Heystek has built a career in the financial services over the last two decades, after obtaining her B.Com degree in Financial Management in 2005. Once she joined Brenthurst in 2006, she continued her academic journey, obtaining her Certificate in Wealth Management from INSETA in 2007, followed by a Postgraduate Diploma in Financial Planning from the University of the Free State. In 2008, she earned the Certified Financial Planner (CFP®) designation.
Anelle joined Brenthurst Wealth as a Receptionist and Administrative Assistant to Brian Butchart in the Cape Town office in December 2023. She has a wealth of knowledge from working as a liaison between Financial Advisers and clients at TMA and Absa Investment Management Services (Aims) since 1998. She obtained her B. com degree from the University of Port Elizabeth in 1997.
ADMITTED ATTORNEY | FINANCIAL PLANNER & HEAD OF BRENTHURST FOURWAYS
Sanet was appointed in April 2020, joining our Cape Town team as an Executive Administration Assistant to Renee Eagar. She has been in the financial services industry since 1990. Her previous experience includes positions at Sanlam, BJM and ABSA. She spent her last 12 years working at Alexander Forbes Private Client Wealth as a Senior Wealth Management Assistant. She has received numerous accolades over the years which include but not limited to, Alexander Forbes Client Service Excellence – Silver award in 2014,2015 and 2017. Sanet has also obtained her Certificate in Wealth Management (NQF 5) in 2012 and achieved “Best Student of the Year” from Moonstone.
Maria Smit is a Certified Financial Planner® with over 10 years of experience in the financial planning industry.
