Kosta Kostadinovski and Biljana Stankovska Arsova
Founders of Capital Asset Management and Capital Financial Center
(from the printed edition of Economy and Business, April 15, 2024)
The number of citizens that own shares in Macedonia, according to information from the Central Securities Depository, is less than 3% of the number of residents in the country.
Citizens traditionally keep most of their savings in bank deposits. It’s something they learned from their parents because investment opportunities in other financial instruments, such as stocks, don’t have a multi-generational tradition.
On the other hand, there are people who own stable businesses and they generate free cash flows, and the businesses themselves do not need new and fresh money, they generate surplus. Those managers know how to make money in their business, but since they don’t need additional investment at a given time, they need to put the money to work to produce profits and dividends outside of their existing business.
To read the full interview, click on the link