WorldWide Markets with Simon Brown

  Market Overview: Top 40 Index: Hit an all-time high of 82,378, currently at 81,800. SA markets remain strong despite a US market selloff. Top40 | Weekly | 18 March 2025 Gold: Broke $3,000 for the first time last week, currently around $3,030. Continues to rise amid geopolitical uncertainties. Gold | Weekly | 19 March 2025 Rand: Trading at 18.07, briefly touching 18.0088 earlier. Dollar weakness driving strength, with a target level of 17.80. Key Market Insights: Gold as a Portfolio Hedge: Maintains a 6-7% weighting in portfolio. Recent purchase at $2,865 via GLD ETF in New York. Potential buy zones: $2,800 and $2,850. Dollar Index Trends: Initially targeted 104, broke through to 101. Could drive the Rand towards 17.80. Global Uncertainty & Market Reactions: European tariffs and Ukraine war concerns. Trump-Putin meeting adds to geopolitical tensions. Elevated US market valuations suggest exploring Europe ETFs. Investment Strategies: AI Participation Note by Standard Bank: Tracks the S&P Kensho AI Index. Two options: 100% Capital Protection - Minimum investment of R25,000, capital secured, potential upside. Capital at Risk with 140% Participation Rate - Higher returns if index rises, but losses if it drops more than 40%. Open for investment until March 28, 2025. Renergen* Helium Production Milestone: Finally delivered helium after years of delays. Stock surged from R3 to R9.30, but challenges remain. Phase 2 expansion and NASDAQ listing pending. Retail investors remain cautious due to past delays. Macroeconomic Outlook: Atlanta Fed GDP Now Forecast: Predicts Q1 GDP contraction of -2.1%. Economic slowdown concerns intensifying. Upcoming Rate Decisions: US Fed (FOMC): Unlikely to cut rates. SA Reserve Bank (MPC): Potential space for a rate cut. Simon Brown * I hold ungeared positions. All charts by KoyFin | Get 10% off your order 00:00 Market Overview and Key Movements 05:47 Gold and Rand Dynamics 12:08 Investment Opportunities in AI 17:43 Renigen's Helium Production and Challenges 20:06 Budget Insights and Economic Outlook    

Local CPI 6.3% for May (lowest since April 2022) from 6.8% in April and vs expected 6.5%. A very good number and we should see June below 6% as June last year was the first +7% in this cycle at 7.4%. Simple base effect should put some serious pressure on inflation over the next few months. So is inflation largely over locally? Probably. Can we start talking about when the MPC starts cutting rates? The next MPC rate announcement is July, the day after we get June inflation and we'll see that the governor says. But cuts are maybe fourth quarter fo this year, at soonest. Standard Bank thinks another 0.25% hike later this year and consensus is cuts only starting next year. Simon Shares UK core inflation rises from 6.8% to 7.1% and CPI 8.7%. They are in trouble. Standard Bank (JSE code: SBK) trading update. Very much two parts, bad debts are ugly and profts are lookign great. They also expect a 0.25% rate increase in the second half of the year? Afrimat (JSE code: AFT) deal to buy Lafarge for ±R1billion. String vertical intergration and potential to boost profits to essentially be paying around a 3x PE. They also say that it looks lie constructions has bottomed in 2022. Omnia (JSE code: OMN) results. Agri struggling with margin pressure, ining booming while chemicals slips. But overall good and stock si cheap. Transaction Capital (JSE code: TCP) secures funding for Gomo. Securing the capital was a major market concern and now they have a bak using their balance sheet and they earn a margin. Good deal but market still selling. How to Diversify Your Commodity Exposure With the PICK ETF Dividend portfolio paying monthly  

Simon Shares US inflation for March at 5.0%, better then expected and initial response form markets was to jump higher. Big wait now is for first week of May and the next FOMC rate decision. Current open trading positions, long everything My 7/21 trading system has me long all the indices I trade as below; Nasdaq 22Mar23 @ 12,740 S&P500 21Mar23 @ 4,056 Euro Stoxx 50 03Apr23 @ 4,317 ASX200 05Apr23 @ 7,240 FTSE100 11Apr23 @ 7,793  

Simon Shares MPC announcement Thursday. Purple Group* (JSE code: PPE) git the 120c bottom of the range, but has suddenly rallied. Steinhoff (JSE code: SNH), we now know what as the "Board agrees on a radical draft plan to enter into an insolvency process with creditors". The problem with dividends - they not tax efficient. They are great But tax. Dividend Withholding Tax (DWT) is 20%. The maximum Capital Gains Tax (CGT) is 18% after the annual R40k exclusion. And DWT you pay along the way, eroding your return over time whereas CGT you only pay at the end. Warren Buffett Berkshire Hathaway has never paid a dividend and he says they never will. Rather sell he says, more tax efficient. Share buys backs are more efficient, but done at high valuations destroy capital. No easy answer, but maybe we should temper our love? * I hold ungeared positions. Backup power on a budget Is the spread important when buying an ETF? Simon Brown

  Simon Shares MPC Thursday (26 January) raised 0.25% and FOMC Wednesday (1 February) expected is 0.25%. Capco (JSE code: CCO) good trading update and dividend. Renergen* (JSE code: REN) proposing US ADRs with Nasdaq listing in time to raise last capital required for phase 2. Stocks losing money from load shedding All listed companies are mentioning load shedding in their updates. Shoprite* (JSE code: SHP); "The Group's additional spend on diesel to operate generators across our Supermarkets RSA store base in order to trade uninterrupted during load shedding stages five and six amounted to R560 million for the period." For the six months ending 2 January 2022 operating profit was R5,113billion. So load shedding costing the group ±10% of operating profit? Astral (JSE code: ARL) selling chicken R2/kg below cost of production. "A large portion of the capital expenditure commitments amounting to R737 million, outlined during the F2022 results presentation, has been placed on hold given the current adverse market conditions. The Group has however committed funds towards backup electricity generation solutions to reduce the adverse impact of load shedding."  

Simon Shares Renergen* (JSE code: REN) did a small capital raise and the market not liking after they said earlier in November they wouldn't do one. Cilo Cybin will not be listed on the JSE. They planned to raise R500million but only got R20.5million. Those who applied will be refunded. Local October CPI was 7.6%, up from 7.5% and vs. an expected 7.4%. Expect MPC to do 0.75% and two 0.25% next taking prime to 11%. Locally 2022 has not been all horror It feels really bad but the JSE has had a fair year with sen decent winners as the two images below show. JSE Top40 stocks year-to-date. (winners) JSE Top40 stocks year-to-date. (losers)

For the thirteenth year in a row Keith McLachlan, Marc Ashton and Simon Brown kick off the new year with a predictions show. First they check in and mark what they said last year. Then they each offer three predictions for the year ahead and a view on the Top40 and Rand/ Find last years show here.

🌍 Worldwide Markets — Episode 660 🎙️ The Best and Worst of the JSE in 2025 📅 10 December 2025 🎧 Final episode of the year — back 14 January 2026 💼 Powered by Standard Bank Global Markets & Shyft 🏁 Opening Thoughts Last podcast of 2025! 🎉 A huge thank-you to listeners, watchers and everyone who engaged across the year 🙏 A wild year for markets, but a great year for returns 📈 Wishing everyone a restful and safe festive break ✈️🌞 🎥 Power Hour Recap — Position Your Portfolio for 2026 📌 Highlights included: 🔙 Looking back at 2025's predictions (keeping it honest!) 🤖 The state of AI: spotting bubbles, when to worry, triggers to watch 💰 Gold & commodities outlook 🛍️ Local retail — opportunities & risks 🚀 IPO environment 🧭 Positioning for 2026 Watch here. 🥇 Best Performers of the JSE in 2025 🪙 1. Precious Metals: The Dominant Theme of 2025 Gold & PGM miners absolutely owned the market this year. If you weren't in them… your portfolio lagged the benchmark. Top returns (total return to 8 Dec): 🥇 Sibanye-Stillwater* — +258% 🤯 🥈 AngloGold Ashanti* — ~+240% 🥉 Northam — +214% 🏅 Gold Fields — +195% Implats — +153% Thungela / Valterra / others — 130–140% range Harmony — +119% 📌 Why the boom? Gold price exploded early in the year 🌕 Safe-haven flows amid tariff drama, budgets, DeepSeek shock Strong production + not-yet-expensive valuations 💬 Simon: Still bullish on gold miners — not expecting another double, but valuations remain attractive if gold holds current levels. 🎓 2. Education Sector Winners 🎓 Stadio — +89% 🧑‍🏫 Killed it with distance learning demand and tertiary approvals 📉 Curo delisted; ADvTech* solid with +20% 🟣 3. Purple Group* & EasyEquities +87% 🚀 Bull markets = busy brokers Results were slightly soft in H2 (bonuses cycle), but long-term story intact 📡 4. Telcos Roar Back (From a Very Low Base) 📱 MTN — +76% 🔵 Blue Label — +73% (Cell C momentum) 🔌 IOCA — +65% ☎️ Telkom — +60% 🟥 Vodacom — +38% 📌 Simon sold MTN a decade ago during the Nigerian fine panic — and never re-entered. Lesson: When it's time to panic, panic fast. 💰 5. Standout Financials & Miscellaneous 🟪 Sygnia — +72% 💻 Datatec — +70% (surprise performer) 🍗 Astral — +49% (thanks, cheaper maize!) 🐓 Rainbow Chicken — +43% 🏢 Growthpoint — +48% (big dividends) 🧱 Property sector broadly strong again: Redefine, Octodec, etc. 🏦 PSG Financial Services — +40% 💼 Capitec — +29% 🏦 Standard Bank — +31% — notably ahead of Capitec 🟧 Naspers — +25% (Simon sees opportunity post-share split) 🛢️ Sasol — +25% (still not a favourite) 🛒 6. Retail: The Year's Big Disappointment 🛋️ Lewis — +22% (but deep down the list) 🥩 Spur — +15% 🍗 Famous Brands — –16% 🛒 Shoprite* — –4.6% (value emerging) 🛍️ Pick n Pay — –17% (slow turnaround) 👗 Mr Price* — –26% (Simon still sees value) 👟 Pepkor — weak, but potential for recovery 🔻 Worst Performers of the JSE in 2025 💥 Biggest Losers 🚨 Nutun / Transaction Capital legacy — –52% 👗 Foschini* (TFG) — –50% 📄 Sappi — –46% (ongoing structural challenges) 🧱 Afrimat — –43% (Lafarge integration still tough; Simon sees opportunity) 💉 Aspen — –43% (lost sterile facility contract; utilization still weak) 🔧 Cashbuild — –37% (SA consumers tapped out) 📺 eMedia — heavy selling post-unbundling 🛒 Retailers Under Pressure 🥀 Spar — –28% (competition from Boxer + Shoprite* + Pick n Pay) 👖 Mr Price* — –26% 🍔 Famous Brands — –16% 🍩 Life Healthcare, Renergen*, ArcelorMittal SA — all struggling 📉 Macro, Risks & 2026 Outlook 🌱 Green Shoots in South Africa Early signs of improvement appearing Fragile but real: improving volumes, some recovery in SA Inc, stabilising consumer pockets REITs & banks starting from low valuations ⚠️ Risks Moody's kept SA unchanged; risks tilt to the downside A global AI bubble burst would hit emerging markets hard External shocks more dangerous than local issues 📈 Global Watch: The Mag 7 & Market Signals Bubble warning model: Two giants below the 200-day MA Meta dipped back below — but still only one of the seven triggering Nvidia chart still healthy Gold still bullish Oil looks very weak 🤝 Closing the Year Simon wraps 2025 with gratitude and optimism: ✨ "It's been a year — a wild one — but at least we got returns." ❄️ Be safe this festive season 🙌 Special thanks to those working through December (retail, hospitality, logistics) 🎙️ Back 14 January 2026 with the annual predictions show featuring Keith McLachlan & Marc Ashton — and, as always, they'll mark themselves before forecasting ahead. 🔗 Powered By 🏦 Standard Bank Global Markets 🌍 Shyft – the global money app 💸 Cheapest Forex rates, anywhere, anytime Simon Brown * I hold ungeared positions. All charts by KoyFin | Get 10% off your order  

Worldwide Markets – Episode 659 Show Notes "It's Been a Year… But Markets Loved It" 📆 3 December 2025 🎙️ Host: Simon Brown 🏦 Powered by Standard Bank Global Markets & Shyft — the global money app. 🌍 Opening: A Wild Year That Somehow Ended Beautifully Despite chaos from January to April — tariffs, collapsing markets, surging yields, rand at 19.90 — markets still delivered a stellar year. If you had gone on holiday 1 Jan and checked your portfolio today, you'd think it was a boring year… but Yowza! It was anything but. Reminder: Wall Street ≠ Main Street — markets often move ahead of economic reality. 🤖 AI Chaos in January: DeepSeek Shakes the Market Chinese model DeepSeek stunned the AI world, training for ~$6m vs OpenAI's multi-billion dollar spend. Raised questions: cheaper API access, open-source surge, China's rapid AI emergence. Set the tone for a year of AI leapfrogging between global players. 🇺🇸 The Trump Factor: Tariffs Everywhere Trump sworn in (20 Jan) → tariffs on Mexico & Canada within days. Tore up the post-WW2 geopolitical playbook → raised questions of US reliability going forward. Triggered global uncertainty but markets... shrugged. 🇿🇦 Local Madness: The Three Budget Attempts SA tried three times to get a budget passed. Rand collapses into "Liberation Tariff Day", hits 19.90 → quickly followed by "90 deals in 90 days" promises. Only three months in and the year was already unhinged. 📉 April Market Meltdown… Followed by a Stunning Recovery US 10-yr at 4.5%, US equities down 15%, local markets collapsing, bonds selling off. By December → Nikkei near highs, Europe at highs, JSE powered by gold, US pushed by the Mag 7. Markets looked glorious by year-end, despite everything. 🎙️ Upcoming: Best-Performing JSE Stocks of 2025 Spoiler: Gold miners will dominate. Full breakdown coming next week in the final show of 2025. 🖼️ NanoBanana & Gemini: AI Image Tools Blow Simon's Mind Simon has used DALL·E heavily for two years — but: ❌ slow ❌ bad at text ❌ struggles with edits NanoBanana + Gemini 3: ⚡ insanely fast 🔠 perfect text edits 🎨 clean output Alphabet has: 💰 massive free cash flow 🌐 billions of users 📢 advertising infrastructure → Giving them a potential edge in AI monetisation (for now). 📈 AI Stock Bubble: Is It Popping? Nvidia chart not bearish — holding support around 165–166 and bouncing. Mag 7 vs 200-day moving average: ⬇️ Only Meta is below. Microsoft, Amazon still comfortably above. Conclusion: 🤯 We are in a bubble… but it's not bursting yet. More insights coming in the Power Hour. [caption id="attachment_55081" align="aligncenter" width="849"] Nvidia weekly chart | 01 December 2025[/caption] 🪙 Bitcoin: The Chart Looks Ugly Trump is the most pro-crypto president ever, but BTC isn't reacting positively. Peaked at $126k in October → now around $87k. Breaking support levels: ⚠️ If current zone doesn't hold → sub-$70k likely. Gold vs Bitcoin comparison: 🥇 Gold behaves like a hedge. ₿ Bitcoin remains a speculative asset, not a store of value or inflation hedge. [caption id="attachment_55082" align="aligncenter" width="849"] Bitcoin weekly chart | 02 December 2025[/caption] 🇿🇦 South African GDP: Some Bright Spots Q3 2025 GDP: 📈 +0.5% QoQ 📈 +2.1% YoY 🚧 Gross fixed capital formation +1.6% → first strong rise since Q2 2023. Means: building → roads, dams, solar, infrastructure — very positive. 🏦 Banks Benefit Most Reasons: 👍 GDP uptick ⬆️ Credit upgrades ⬇️ Lower expected inflation ⬇️ Lower rates coming 🟩 Off the grey list Valuations: Price-to-book: 1.0–1.5× Yields: high single digits Winners depend on style: 💸 Deep value → ABSA, Nedbank ⚖️ Balanced → Standard Bank, FNB 🦄 Premium → Capitec (always expensive) 🏢 Shaftesbury (UK REIT): One to Watch Formerly Capital & Counties. Own Covent Garden & key West End locations. Never recovered from Brexit: from £4 → now £1.42. Fundamentals: 💰 Single-digit PE (~8) 📉 Yield 2.7% 📊 Analyst range: £1.48–£2.10 Not a buy yet — but on the watchlist due to prime assets. 🏘️ SA Property: The Easy Money Is Gone SA REITs had: 🚀 Huge 2024 📈 Strong 2025 Many now trade around NAV: Storage, Spear, Vukile → at/near NAV Octodec → still at discount Simon prefers 15% discount to NAV before buying. Markets have closed the gap — valuations now full. If REITs move to 10–15% premiums, Simon will run. 🔮 Next Week: Final Show of 2025 Full list of best and worst JSE performers of the year. Small caps that surprised everyone. Then → back week of 12 Jan with Marc Ashton & Keith McLachlan for the annual predictions episode. 👋 Wrap-Up A shorter show this week, but packed with market insight, AI breakthroughs, Bitcoin trouble, UK property opportunities, and SA's slow-but-positive GDP recovery. As always: 💙 Look after yourself. 🤝 And if you can, look after someone else too. Simon Brown * I hold ungeared positions. All charts by KoyFin | Get 10% off your order  

dd 🌍 Worldwide Markets – Episode 658 📅 26 November 2025 🎙️ Hosted by Simon Brown 💼 Powered by Standard Bank Global Markets & Shyft 🔥 This Week's Big Themes 📊 JSE 10-year returns — miners dominate! 💽 Nvidia results: great numbers, strange market reaction 🥇 Harmony goes big on copper 🛠️ SA Inc sleeper stock ready to run with GDP recovery 📦 Process/Tencent update: super-app dreams + buybacks 🧠 Standard Bank launches new AI structured product 🎯 Power Hour: Position your portfolio for 2026 (8 December) 🏭 Invicta Results — A Deep Value SA Inc Play 🏗️ Capital equipment group with exposure to SA, EU, US & Asia. 🌍 Tariffs hit their China → US shipments. 💰 Valuation extremely cheap: PE < 5 Dividend yield > 3% Price-to-book: 0.7 🚧 SA's weak GDP is the drag — but a recovery to 1.8% → 2% → 3% could turn this into a major SA Inc winner. ⚙️ Manufacturers sweating assets = more parts sold = small cyclical buffer. 🥢 Prosus / Naspers / Tencent — Cash Flow Turns Positive 💵 First positive free cash flow ever → +$59m vs -$104m. 💰 Billions of $ in cash reserves. 🍔 Food delivery (iFood, etc.) gaining scale + working toward a unified "super-app" model. 🧧 Still overwhelmingly driven by Tencent, but: 🎮 Tencent Games 🎵 Tencent Music 📺 Online ads 📱 WeChat ecosystem 🎥 Epic Games stake 🎞️ TikTok-style platforms 🔄 Ongoing share buybacks funded by selling Tencent into Hong Kong. 💻 Nvidia — Big Beat, Yet the Stock Falls? 📈 Beat on revenue, profit, and guidance — classic Nvidia. 🤔 But inventory jumped 32%, raising questions about demand visibility. 🏭 Meta reportedly exploring Google chips, with Amazon & Google also pushing their own silicon. ⚠️ Non-Nvidia chips = slower + higher power usage → still "B-grade". 📉 Technically: Support at ~$180 Next support ~$166 Further support ~$150s 🎈 Bubble chatter now turning into "yes, it is a bubble" — but bubbles go UP before they pop. 📉 Mag-7 200-day MA signals: Only Meta sits below (-10%). Microsoft almost there (+1.5%). Amazon also soft (+5%). 🥇 Harmony — From Gold to Copper Giant? 🪙 Buying + building the Eva copper project in Australia. 🧱 Production cost: $2.50/lb copper (vs spot ~$4.50–$5.25). ⛏️ Harmony is shifting from pure gold → gold + copper, diversifying earnings. 🎙️ Jimmy Moyaha's view: ✔️ Good blend of cyclical exposures ✔️ Some risk hedging between metals ⛏️ Deep SA gold mines = harder + costlier → copper is a logical hedge. 🔌 Copper = "metal of the future" (again) due to electrification & green tech. 🧠 Standard Bank AI Structured Product (Now Open!) 🧺 Basket: 🇺🇸 US Tech (NASDAQ) 🇨🇳 China Tech (KWEB) 💸 Auto-call feature: Year 1: If both indices are positive → 16% payout If not, each subsequent year with positivity → 16% per year Max 5-year horizon = up to 80% 🛡️ Capital protection: 100% capital back if indices not more than 30% down at maturity 💵 Minimum: R25,000 (+ R1,000 increments) 🗓️ Closing: 3 December 2025 📍 Available via OST or your stockbroker. 📈 10-Year JSE Winners — The Miners Dominate 🥇 Top Performers (per-year returns, excluding dividends) 🥇 Harmony Gold — 43.5% p.a. (3600% total!) 🥈 Gold Fields — 37% 🥉 Kumba Iron Ore — 33% (42% incl. dividends) ⚒️ Exxaro — 28% + 12% dividends ⚙️ Northam Platinum — 28.5% 🇬🇧 Argent — 27% (first non-miner) 💼 African Rainbow Capital / Valterra — 25% 🏦 Capitec — 22.5% + dividends → 24% total 🛠️ Bell Equipment, Merafe, Sibanye — strong ~19%+ 🌐 Datatec — 19% + 17% dividends → 37% 📉 Big Losers (per-year declines) 🪓 Eskom (ELI / ACO) — -26% 📦 Nampak — -18% 🛏️ City Lodge — -14.5% 🧪 ArcelorMittal — -14% 💊 Aspen — -10% 🛢️ Sasol — -10% 🏘️ Balwin — -7% 🍔 Famous Brands — -7% 🧱 PPC — -5% 🛒 Pick n Pay — -5% 🏥 Netcare — -4.8% 🧺 Woolworths — 2.4% p.a. (only 1.4% incl. dividends) 📊 Top 40 — 10-Year Benchmark Performance 📈 118% total return over 10 years 📉 CAGR: 8.2% (≈10.5% incl. dividends) 📌 Best period: 11.6% (2019) 📌 Worst: ~3% during crisis 🎯 Real return (CPI ~5%): ≈7% — very respectable. 📣 Call to Action 💬 Tell us in the comments: Which 10-year winners do you own? Which stats shocked you most? What's your best-performing JSE stock of the last decade?  

Worldwide Markets — Episode 657 (19 November 2025) 🗓️📈 🔥 This Week on Worldwide Markets Good things are happening in South Africa 🇿🇦, bubble-watching on global markets 🎈, fresh ETF listings from Ninety One 📊, strong local results (Astral 🐔, WeBuyCars 🚗, Ninety One 💼), and the Year-End Power Hour opens for bookings 🎤✨. 🎈 Bubble Talk: When Does It Pop? Guest Insight: Citigroup's Dirk Willer (via Odd Lots podcast) Definition: A bubble = asset prices 2 standard deviations above the 1-year average. His exit rule: ➡️ Identify the drivers — the Magnificent 7 (Alphabet, Tesla, Nvidia, Microsoft, Apple, Amazon, Meta). ➡️ The bubble pops when 2 of the 7 fall below their 200-day EMA 📉. Current Status: Meta: 12% below the 200-day ❗ Microsoft: +5.4% above Amazon: +6.5% above Others still safely above. 👉 So we're halfway to bubble-popping territory. 👉 But: bubbles make money on the way up — timing the exit is the key. Fun fact: Alphabet has negative net debt (more cash than debt) 💰. 📊 Ninety One Lists Two Actively Managed Income ETFs Two new AMETFs hit the JSE: 🇿🇦 91DINC (Local Income ETF) Quarterly dividends TER: ~0.25% (incl VAT) Tax-free account eligible ~20-year unit trust track record 🌍 91GINC (Global Income ETF) Accumulating (rolls up dividends) ~9% USD yield target Pays in ZAR on the JSE ~4.5% current USD yield Full explainer webcast here 🎥. 🇿🇦 Good Things Happening in South Africa Yes, things are still tough — but several green shoots 🌱: 1️⃣ Greylist Exit SA officially removed — major reputational win ✔️. 2️⃣ Medium-term Budget Positives Debt trajectory stabilising (may not hit 80%). Primary budget surplus — only ~6 countries globally manage this. Bond yields down ≈2%, reducing future borrowing costs. Precious metals boom boosting revenue 🪙⬆️. 3️⃣ New Inflation Target Formalised 3% target, with a 2–4% band 🎯. Helps competitiveness for exporters like citrus 🍊. 4️⃣ MPC Outlook Inflation at 3.4% — within band Simon expects a rate cut on Thursday ✂️💸. 5️⃣ Credit Rating Upgrade S&P: Upgraded SA from 3-notches Junk → 2-notches Junk. First upgrade in 16 years ⭐ Positive outlook — another upgrade possible. Moody's review coming in December. 6️⃣ Load Shedding Gone (for now) Effectively no load shedding for months ⚡😊. Operation Vulindlela turning to Transnet next 🚢. 7️⃣ GNU Functioning Smoothly Budget passed without drama Coalition politics fading into the background — exactly where they should be. ⚠️ But: Chronic unemployment (31%+) 😔 Inequality, poverty, crime remain severe issues → Growth is the only way to tackle these sustainably. 🎤 Year-End Power Hour — Book Now! Theme: Position Your Portfolio for 2026 Limited in-person seats Webcast available Simon reviews last year's predictions (and mocks himself 🤣) Then looks at 2026: gold, rand, upgrades, tariffs, etc. 👉 Book here 📈 Company Results Round-Up 🐔 Astral Foods A horror first half… turned around: What improved: Avian flu mostly gone; vaccination up to 30% Power issues stabilised Independent water supply Yellow maize prices lower 🌽⬇️ Pricing back to Dec 2023 levels Outlook: CEO Gary Arnold expects a strong FY to Sept 2025. More upside if maize stays low. 🚗 WeBuyCars Trading update spooked the market — PE dropped from mid-20s → high teens. Pressures: Cheap new Chinese cars (R300k range) compete aggressively 🇨🇳 Slower earnings growth (~mid-teens) Their response: Lower buying prices in segments competing with Chinese brands Future tailwind: cheap Chinese cars will enter second-hand market soon Record 16,000 monthly sales Scale still growing Valuation: Simon sees value emerging in the low-40s 👀. 💼 Ninety One (Asset Manager) Strong numbers; bull markets = good for AUM Market sold it off (priced for perfection?) PE ~11, DY ~6% — cheap metrics Analysts: 2 buys, 2 holds, 1 strong sell Price target avg ≈ R47.34 (around current price) 🏛️ Coronation Last year's SARS case win inflated the base → No repeat special dividends → Lower YoY numbers expected. 💱 Rand & Commodities 🇿🇦 Rand Broke below 17/USD last week (first time since early 2023) Now back around 17.20 Trend still strengthening — more in the Year-End Power Hour. 🪙 Gold Holding firm, not running Key levels: Support: ~R39,20 Risk: Lower highs + lower lows if it breaks Currently steady around R4,050. 📉 Markets & Crypto S&P drawdown: ~3.5–4% Nasdaq: ~5–5.5% → Much panic for not much movement 🤷‍♂️. ₿ Bitcoin Looking rough under R90,000 ⚙️ Nvidia Earnings — Wednesday A major market catalyst. Bad numbers could turn sentiment quickly. 🔭 Coming Up Next Week Simon looks at JSE top performers over the last 10 years 📈 (Spoiler: several gold miners… but almost all gains from the last year.) Then it's December wrap-ups → and back in January. Simon Brown * I hold ungeared positions. All charts by KoyFin | Get 10% off your order

Worldwide Markets – Episode 656 (12 November) Powered by Standard Bank Global Markets and Shyft – the global money app that puts travel, shopping, payments and investments in the palm of your hand 🌍💸 1) JSE Under Pressure 🏛️⚖️ Two issues in the spotlight: a) Competition Commission Complaint A2X alleges JSE is being anti-competitive around BDA & settlement. This could have a long regulatory process. No quick outcomes expected. b) Matengu Allegations Matengu alleges share price manipulation and claims to have emails implicating JSE directors. JSE has fired back and asked: Produce the emails. There is also a clear seller overhang (ex-director wanting out), which explains the price pressure more plausibly. Takeaway: Overhang selling often looks like manipulation. But without proof, it's just selling pressure. 2) Should We Scrap SENS Announcements & HEPS? 🤔📰 The JSE is consulting on two potential changes: Reduce some SENS announcements (e.g., administrative ETF notices, floating rate resets, etc.) Possibly remove HEPS (Headline Earnings Per Share) Simon's view: 🚫 Do not remove HEPS. HEPS is invaluable as an adjusted earnings measure, especially in SA where one-off corporate events are common. The process cost argument doesn't justify removing a critical metric. 4) Don't Fight the Trend 🟢📈 Two strong trends right now: a) Gold 🥇 Back above $4,100/oz after two brief red weeks. Long-term trend still strongly up. No point trying to call tops – enjoy the trend while it runs. b) Rand 🇿🇦💪 Strengthening since the "liberation blowout" in April (~19.90). Now around R17.14 – and trend still down (strengthening). This is not just USD weakness. Big inflows into SA bonds + stronger commodity prices supporting. Next key level: R17 → If broken, expect move to low R15s. 5) Results Round-Up 📊💼 Company Sector Key Takeaways Outlook Stor-Age* REIT / Self-storage SA strong, UK okay. Trading near NAV (R17.77). Yield ~7%. Fairly valued, solid operator. Premier Group Bread, food manufacturing Revenue +6%, HEPS +27%. Efficiency gains + declining input costs. Not cheap, but high quality compounder. GE Aerospace (formerly General Electric) Aviation Engines & Service 75% of commercial planes use GE turbines. Service business = high margin recurring revenue. Trend beneficiary as global travel grows. Expensive, but maybe deserved. 6) KAP (PG Bison, UniTrans, beds, auto aftermarket) 🛏️🚚🛠️ Earnings slump → PE looked blown out, but forward expectations show return to single-digit PE once capex is absorbed. Small-caps remain deeply unloved. Worth watching, but needs a catalyst. 7) Gold Miners – Pick Your Favourite ⛏️✨ If gold keeps running, most producers will make serious money. Simon's preferences: AngloGold Ashanti* (ANG) – strong price action, holding trends well. Pan African (PAN) – up 7x since Oct 2022. Others: Harmony – now has meaningful copper exposure. Sibanye* – gold + PGMs. ETF option: Satrix RESI* – doubled this year (helped heavily by gold). ⏳ How long to hold? While gold trend remains intact. Events & Dates 🗓️ Monday 17 November @ 10:00 – 91 Income ETFs webcast Book: justonelap.com/events Friday 8 December – Final Power Hour: "Position Your Portfolio for 2026" Bookings open next week. Simon Brown * I hold ungeared positions. All charts by KoyFin | Get 10% off your order

🌍 Worldwide Markets – Episode 655 Date: 5 November Host: Simon Brown Powered by: Standard Bank Global Markets & Shyft – the global money app for travel, payments & investing. 🎙️ This Week's Big Questions When will markets crash? 🤯📉 Will we finally get a sovereign ratings upgrade? 🇿🇦🔼 Optasia* lists… but no IPO fireworks 💼🔔 SA vehicle sales accelerate again 🚗📈 🚀 Shyft Migration Update If you are an OST/Webtrader/ASI client — but have not yet been notified about migrating to Shyft — that simply means your group is scheduled for 2026, once remaining features roll out. 🔗 Watch the full Power Hour explainer: 🔔 Optasia* Listing – A Calm Debut IPO priced at R19 Day 1: Opened R20.75 → Closed R19.38 (≈ +2% on a -2% market day) No big pop → but not a failure Existing shareholders + exec team locked in for 185–360 days Market consensus sees R25–R26 within 2–3 years if growth executes Simon's stance: ✔️ Applied → got only 14% allocation ✔️ Holding ✔️ Looking to build the position over time 🚗 SA Vehicle Sales – Strong Again October sales: 55,960 units ➡️ Best October since 2014 📈 Driven partly by car rental fleets restocking for the holiday season ✅ Still good news for motor retailers 🇿🇦 Potential Sovereign Ratings Upgrade? SA remains junk with Moody's, Fitch & S&P Global Outlooks have shifted flat → positive S&P may consider upgrade in November MTBPS next week: Expected to show higher-than-budgeted tax revenue → Thanks to booming gold & PGM prices ⚒️💰 But… 💬 Citadel's Maarten Ackerman: "Not so fast — upgrade may still take time." Key stat: Foreigners purchased the most SA government bonds (Aug–Sep) since records began in 1994 — even while we remain junk. 🪙 Gold – Consolidating at $3,950–$4,050 Price: $3,964 at recording Analyst view (Petri Redelinghuys from Herenya Capital Advisors): → Good entry zone for those who missed the earlier run Chart setup: Sideways consolidation, waiting for next leg 🌏 China–US Trade "Peace"? Trump offers tariff cuts on fentanyl ingredients China offers: Soybean purchases 🌱 (they buy 50% of global supply) Lifting rare earth export restrictions for 1 year 🧲 Reality: China still holds the real leverage here. 📉 Market Crash Fears – Let's Talk About It ✔️ Will markets crash? Yes. Guaranteed. Always have. Always will. ❓ When? Nobody knows. Not even the clever people. 🧱 Bull markets climb a wall of worry. There are always scary headlines. 🎯 Key Takeaways Being in cash waiting for the crash is costly. Even when crashes happen, markets often do not fall back to where you sold. Timing the bottom is even harder. If you're worried → trim, rebalance, don't go 100% cash. Stats (S&P 500 historical): Market Type Average Length Average Move Bull Market 🟢 5.3 years +254% Bear Market 🔴 1 year -31% Conclusion: Staying invested wins — unless you're already drawing retirement income. 🏁 Final Thoughts Markets will crash — we just don't know when Keep investing, keep rebalancing, don't try to be clever And remember: cash is a drag over the long term Simon Brown * I hold ungeared positions. All charts by KoyFin | Get 10% off your order

🌍 World Wide Markets Ep. 654 — 29 October 2025 🎙️ "Gold took us up … and gold will take us down." 🪙 Gold Takes the JSE for a Ride Gold led the JSE to record highs — and now it's leading it back down. Year-to-date returns: Gold +49 %, Harmony +87 %, Pan African +126 %, DRD +150 %, Gold Fields +162 %, AngloGold Ashanti* +167 %! Excluding dividends! Simon notes clear support around $3,600-3,800, with further downside likely. The Top 40 is up ~38 % YTD, but the Resources Index (Resi) is +93 % — remove that, and the market's ~20 %. Translation: half this year's gains came from gold ⛏️. When gold falls, the JSE will feel it. Simon spots a "kangaroo-tail" reversal candle — 10 straight green months is unprecedented 📉. Expect short-term weakness but the long-term gold story isn't over — deficits, inflation, and de-dollarization keep the bull case alive 💰. For those who "missed" gold, this pullback may be your chance — scale in slowly rather than catching the knife 🪙⚖️. Top40 Monthly chart 2025 💡 Optasia IPO Extended Fintech AI & machine-learning listing — application deadline extended to Thursday 30 Oct (lunchtime). Simon applied after FirstRand took a 20.1 % stake at R 19, top of the range 💼. Despite muted enthusiasm from guests on Stock Watch, the institutional interest makes it intriguing 🤖📊. Allocation risk remains — expect to receive only a fraction 🎟️. 🚗 WeBuyCars: Market Hits the Brakes Trading update disappointed; share price −13.5 %. HEPS: 222 – 226 c vs ~240 c consensus ➡️ P/E ≈ 20 ("fair"). Was pricey at ~30× earnings, now more realistic ⚖️. Chinese car imports may start competing at lower price points 🇨🇳 → potential pressure on used-car margins. Still, for those who missed the run, this could be a re-entry point 🚘. 🏠 Balwin Results Decent set of numbers — growth across Western Cape, KZN and Gauteng. No dividend 💧 → debt reduction focus. Sector tailwinds: lower rates + improving bond approvals (Uber = Ooba). Strong demand for mid-tier and affordable housing 🏗️. Simon holds Calgro M3* in the same space. ⛏️ Commodities & PGMs Holding Up Anglo American & Kumba raise guidance 👍 → stronger pricing and better rail flow. Valtera still recovering from floods, but higher PGM prices help. Platinum breakout ⚙️ $ 1 550 + after a decade range bound 850 – 1 100. Palladium rebounding too ( $ 1 700 resistance ). Trend: higher highs and higher lows 📈. 🏪 Pick n Pay: Slow Road to Recovery Still loss-making but loss shrinking 📉. Adjusting for Boxer, cash and tax deferrals → valuation ≈ –R 3 billion (cheap on paper). Sean Summers cautious: recovery will be slower than hoped. Needs to win market share from Shoprite* – a tough battle 🛒🆚. 🇨🇳🇺🇸 US-China Trade & Tariffs Possible trade deal emerging 🎯 — China may buy soybeans, ease rare-earth curbs. Perception = bullish for equities, bearish for gold (short term). US markets closing at record highs 📈 — a deal would supercharge them. Meanwhile, US Supreme Court to decide whether Trump can impose tariffs unilaterally. Lower court said no → prediction markets expect he'll lose ⚖️. Outcome could remove tariffs entirely – massive implications for trade and exporters. Retroactive refunds possible? Unclear 💵❓ 🏦 Shift Migration Update Standard Bank Online Share Trading, AutoShare Invest and WebTrader are migrating to the Shyft app 📲. Phase 2 migration this week → details at justonelap.com/powerhour. If you haven't been contacted, your turn comes in 2026 (probably after March). Shift offers cheapest Forex rates and multi-asset access globally 🌍💳. 💬 Final Thought "Gold gave us the party — and now it's calling last rounds." Expect volatility, opportunities, and reversals — but don't lose the big picture. Simon Brown 🎧 Worldwide Markets Ep. 654 | Powered by Standard Bank Global Markets & Shyft 💙 Look after yourself — and someone else too. Simon Brown * I hold ungeared positions. All charts by KoyFin | Get 10% off your order

🌍 Worldwide Markets Ep. 653 – Gold Crashes, Markets Burn, and Optasia's JSE Listing 🎙️ Hosted by Simon Brown 📅 Recorded: Tuesday, 21 October 2025 📈 Powered by Standard Bank Global Markets, Retail & Shyft – The global money app that puts travel, shopping, payments and investments in the palm of your hand. 💥 Local Markets Crushed A brutal day on the JSE as the market closed down 2.5%, with resources tumbling 7.8% despite a steady rand (R17.43). Gold miners collapsed: Implats & Sibanye -10%, Gold Fields & Harmony -9%, AngloGold* -8%. PGMs also fell hard: Northam & Impala down over 7%. Retail pain: TFG* dropped a shocking 16.6% after a poor trading update, dragging down Pepkor, Mr Price*, and even WeBuyCars. U.S. markets were red but only mildly so — calm compared to SA's bloodbath. 🪙 Gold: After 9 Green Weeks, the Pullback Arrives Gold finally broke its 10-week winning streak, plunging from $4,378 to $4,122 — a $250 drop in two days 😬 Simon notes this was inevitable after nine straight weeks of gains. Likely short-term support around $3,950–$4,000, with potential consolidation below $4,000. Despite the scare, the Satrix Resi is still up over 100% for 2025. 💡 Lesson: even in a bull run, sharp corrections are part of the journey. 🧠 Optasia: AI Fintech Listing on the JSE A major new listing — Optasia (code: OPA) — is set to debut 3 November. Valued at around R20–25 billion, it's one of the largest fintech listings in years. Key Facts: Business: Micro-loans & airtime credit to the unbanked and underbanked. Reach: 38 markets (Africa, Asia, Middle East, Europe). Scale: 120 million customers/month 32 million loans/day $13m total daily loan value Average loan: $5 (microfinance) and $0.25 (airtime credit) Defaults: impressively low at 1.14% 💪 Backers: Standard Bank, RMB, EcoBank, MTN, Vodacom, Airtel, Zain, and more. Listing price range: R15.50–R19.00 per share. Lockup: 180 days for sellers, 365 for directors. Existing shareholder exit: Ethos Capital (EPE) partially selling down. Simon's Take 🎯 Solid business with real revenue and strong growth (≈90% YoY in 2025H1). But… valuation not cheap (PE ≈ mid-20s). Concerns over allocation uncertainty and currency/regulatory risks in frontier markets. 💬 Verdict: "I'm not applying — great business, fair valuation, but not compelling enough." 🚗 CMH* (Combined Motor Holdings): Excellent Results & Share Buyback Vehicle sales hit their highest levels since 2015, and CMH delivered stellar numbers 🚙💨 Headline earnings: +25% No dividend this time, but a 15% share buyback instead. Strong exposure to Indian & Chinese brands (nearly 50% of sales) plus Suzuki, now SA's #2 brand. Legacy luxury brands are struggling. Historic returns: Share price last decade: 12% Dividend yield last decade: ~10% Combined ≈ 22% annual shareholder return over the past decade! 📊 The Twist Founder Jeb McIntosh (79) may be looking to gradually exit — Simon suspects the buyback could facilitate this. Still, Simon's holding: "I'm not selling — unless they offer me a crazy price." 🏦 Upcoming Event: Standard Bank Client Migration 📢 Important for OST, WebTrader, and AutoShare Invest clients: Standard Bank is migrating investment clients to Shift. Join Simon Brown and Adish from Standard Bank on Tuesday, 28 October, 5:30 PM (Rosebank or Webcast). 🔗 Register at justonelap.com/events 💬 Final Thoughts Markets can be messy, but knowledge is power. Simon wraps up with his usual reminder: "Look after yourself — and if you can, look after somebody else too." ❤️ 🔑 Episode Summary 🪙 Gold's epic run ends with a sharp pullback. 📉 JSE hammered by resources & retailers. 🤖 Optasia brings fintech AI excitement to the JSE. 🚗 CMH delivers strong results and a massive buyback. 🏦 Big changes coming for Standard Bank investing clients. Simon Brown * I hold ungeared positions. All charts by KoyFin | Get 10% off your order

🎙️ Worldwide Markets Ep. 652 — "Dividends, Gold, and Gearing Gone Wild" 📅 15 October 2025 | Hosted by Simon Brown | Powered by Standard Bank SHYFT 🪙 Gold Rush Continues Gold is unstoppable! 🚀 Now trading above R4,100/oz, the yellow metal has clocked eight consecutive green weeks — the longest winning streak since early 2024. Simon digs into: 📈 Historical patterns since the pandemic: jump → consolidate → jump again 🏦 Central banks as persistent buyers — but what happens if they ever stop? 🤔 With gold having doubled in three years, central banks' reserves are now worth far more — will they slow purchases? Gold weekly chart 🧬 ASP Isotopes & the Renegen* Deal 🔥 The small-cap buzz continues! ASP Isotopes (📊 JSE-listed) soared 34% after being added to a Morgan Stanley National Security Index, thanks to its defense-related tech. 🧪 ASP will acquire Renegen at a ratio of 0.09i ASP shares per Renegen share. 📈 The stock was badly mispriced at listing, now settling into realistic levels. 🧠 Simon's take: it's partly a meme stock, but still delivering products and momentum. 🌍 Tariff Turmoil & Trump Tactics 🗞️ Trump shocked markets promising 100% tariffs on China, triggering a: 📉 2% drop on the S&P 500 📉 3% drop on the Nasdaq …before walking it all back two days later. Classic "art of the deal." 🎭 💬 China's latest export data (+8.4% YoY) shows resilience, finding new global buyers despite tensions. 💥 Crypto Carnage: Over-Geared Traders Wiped Out 📉 Bitcoin slid 10%, altcoins dropped 20–50% — and many over leveraged traders got liquidated. Simon's tough love 💬: "If a 10% move wipes you out, you're not trading — you're gambling." 🎲 He explains gearing simply: 💰 10× gearing = a 10% drop → total wipe out. 💰 50× gearing = just a 2% drop → goodbye capital. Crypto's already volatile — no need for extra leverage. 💸 JSE Large Caps: Great Dividend Yields Following last week's small-cap value picks, Simon scans big JSE names offering strong income 📊: 🏦 Banks Nedbank (9%) – solid and cheap. ABSA (8%) – attractive and trading below NAV. Standard Bank (7%) – quality but pricier. FirstRand (5.2%) – premium quality, lower yield. Investec (6.5%) – decent, but less excitement. 🏭 Industrials & Commodities Tungela (50%) – monster yield, but coal outlook uncertain. Omnia (special dividend) – mixed on chemicals. AVI (9%) – steady margins, strong chart 📊. Tiger Brands (7%) – turnaround story under new management. Reunert – defense & cabling play; value emerging. 🏠 Property Equites, Growthpoint, Fairvest, Hyprop, Resilient – 6–8% yields, but NAV discounts vary. 🎰 Leisure & Retail Sun International (10%) – betting becoming core growth area 🎲 Mr Price* (4%) – comeback potential. Woolies (2.5%) – still struggling with fashion 👗 Shoprite* (2.7%) – premium, low yield. 💼 Asset Managers Old Mutual (9%), Coronation (8%), Sygnia – benefit from rising markets. Alexander Forbes – solid income play. 📡 Telcos & Others Telkom – undervalued, post-Swiftnet debt cut, potential MTN suitor 📶 Grindrod – ports booming, Africa trade tailwinds 🌍 Bitvest (4%) – cash generative, debt manageable, chart support at R200. 🧾 Key Takeaways ✅ Gold's bull market still strong — no legs down yet. ✅ ASP Isotopes & Renegen merger heating up. ✅ Beware leverage — crypto is wild enough. ✅ Dividend stocks offering serious income on the JSE. ✅ Buffett Power Hour this Thursday — don't miss it! 💼✨ 🎧 Worldwide Markets is powered by Standard Bank Global Markets, Retail & SHYFT — 💳 The global money app for travel, shopping, payments, and investments, with the lowest Forex rates. 👉 Subscribe to Worldwide Markets wherever you get your podcasts. 💬 Follow Simon on Twitter/X: @SimonPB Simon Brown * I hold ungeared positions. All charts by KoyFin | Get 10% off your order

🎙️ Worldwide Markets Ep. 651 — "Value on the JSE? We Find the Cheapest Shares" (8 October 2025) 📅 Recorded Tuesday afternoon | Powered by Standard Bank & SHYFT 💡 Episode Overview This week Simon Brown digs into value on the JSE — where the cheapest shares might be hiding 👀. He also unpacks: The Purple Group* pullback 🟣 ETF returns so far in 2025 📈 (spoiler: it's been a wild year!) Upcoming Standard Bank Power Hour: Investing Like Warren Buffett 🧠 🟣 Purple Group: Pullback or Panic? After a huge rally to R2.74, Purple Group has pulled back — but no need to panic. Likely to find support around R2.10, with upside targets around R3.50 💪. Expecting strong trading updates by late October or early November. With markets, gold, crypto, and offshore assets all flying, Purple should benefit as trading volumes rise. 📊 2025 ETF Returns — A Booming Year Simon's recent ETF analysis shows a banner year for SA ETFs (excluding dividends): 🏆 Top Performers: Satrix RESI* +118% 🪨 Satrix Shariah +69% 🌙 (thanks to heavy gold exposure) 10X Top 20, Rafi 40*, Gold ETFs, SWIX, and EasyETFs Global Equity (Active) all strong 📈 📉 Laggards: Signia Health Innovation −9.2% 🧬 India ETF −8.7% 🇮🇳 Global Bonds & Healthcare ETFs slightly negative 🪙 Overall takeaway: 2025 is a golden year — literally and figuratively. 💸 Value Hunt: The Cheapest Shares on the JSE Simon's criteria for spotting value gems 💎: PE ratio: 0–10 (profitable companies only) Dividend yield: >0.01% (sign of free cash flow) Price-to-book: <1 (trading below net asset value) 🔍 Highlights from the Screen Property & Small Caps: 🏢 Ascension, Safari, Emira, Octodec — deep discounts to NAV, juicy yields (~8%). 🚍 Putprop — Western Cape bus operator, tiny but intriguing (PE 5.7, yield 3.5%). 🏠 Calgro M3* — low-cost housing builder, due for results soon; Baldwin also looking attractive. Media & Industrials: 📺 E-Media — PE 4.8, dividend ~12%, cheap but illiquid. 🪵 Sappi & Mondi — paper industry under pressure. ⚙️ Invicta — PE <5, yield 3%, cutting prefs and improving cash flow. 🪓 Master Drilling — exposure to gold & copper, global operations, decent IP. 📦 Mpact — tied up in Caxton's bid & Competition Commission delays. Consumer & Financials: 🛋️ Lewis Group — "a bank disguised as a furniture store," 10%+ yield, strong results. 🏦 Investec, ABSA, Nedbank — cheap banks with high yields and solid balance sheets. 🧓 Old Mutual — ~9% yield, launching a bank soon; well positioned in bull markets. 🚗 Motus & CMH* — benefiting from decade-high vehicle sales. 📦 Stor-age*, Spear, Growthpoint — steady property plays; prefer those with discounts to NAV. Other Notables: 🐟 Sea Harvest & Oceana — solid businesses, but "fish stocks make for tough investments." 🪙 Sabvest — style value play, small discount to NAV. 💼 HCI — resolved union cash flow issues, trades below asset value. 🎙️ African Media Entertainment — great yield (10%), but beware of liquidity traps. ⚠️ Simon's Key Takeaways ✅ There is value on the JSE, but many bargains are illiquid — trade carefully. ✅ Liquidity traps can hurt even when valuations look great. ✅ Dividend yields + solid cash flow are strong signals of resilience. ✅ Always DYOR — "Not financial advice." 🧭 Final Thoughts 2025 continues to be a strong year for gold, ETFs, and SA banks, with pockets of deep value emerging across small caps and property. 💬 "Markets that are going higher make us feel richer — but if we're positioned right, they actually make us richer." — Simon Brown 🔗 Powered by Standard Bank & SHYFT 🌍 SHYFT, the global money app from Standard Bank — travel, shop, pay, and invest globally with the best Forex rates anytime, anywhere. 👋 Closing Note: Nine more episodes to go this year! Simon signs off: "Look after yourself — and if you can, look after somebody else as well." ❤️ Simon Brown * I hold ungeared positions. All charts by KoyFin | Get 10% off your order  

🌍 Worldwide Markets Episode 650 – 1 October 2025 Hosted by Simon Brown Powered by Standard Bank Global Markets & the Shyft Global Money App 💳🌐 🔑 Key Topics This Week 📈 Purple Group* & EasyEquities Purple Group share price up ~150% this year 🚀 Results driven by non-revenue income (inactivity fees & loyalty program) Strong client acquisition via Capitec & Discovery Bank partnerships 🏦 Trading volumes soaring in a bullish market 💹 Purple Group | YTD to close 29 Sep 25 💰 Top 40 hits 100,000 Thanks to gold miners & PGMs ⛏️ AngloGold Ashanti* up nearly 200% in 2025 ✨ Bitcoin also at record highs: $110k – $115k ₿ 🇿🇦 Bull case for SA Inc. Eskom turns profit ⚡, load shedding largely behind us FAFTA gray list exit expected late October ✅ Stronger rand & softer oil price supporting consumers ⛽ Lower inflation, potential rate cuts in the US vs. SA rates hold 💵 Bond yields easing = cheaper government borrowing 💸 🛒 Boxer trading update Like-for-like sales up 5.3%, turnover +13.9% 📊 EPS guidance strong but valuation looks pricey vs. Shoprite* 🍏 🤖 Nvidia's* self-dealing investments Billions poured into OpenAI, CoreWeave & Mistral 🧠 Risks of dot-com style "self-dealing" re-emerging ⚠️ Simon remains a cautious Nvidia shareholder 📉 Global delistings trend JSE listings halved over 20 years 📉 US market also down from 8,000+ to ~4,000 listings Private equity & venture capital keep firms private longer ⏳ 📅 Upcoming Event Standard Bank Power Hour – Warren Buffett: Blueprint for a Lifetime of Investing 🦫💡 🗓️ 16 October, 17:30 SAST 📍 Rosebank, Johannesburg (in-person & webcast) 📝 Simon's Notes Obsidian vs Evernote: experimenting with second-brain systems 📚🧠 Thanks for all listener feedback 🙏 🎙️ Closing 10 more episodes left before Simon's year-end break ✈️ "Look after yourself, and if you can, look after somebody else too." ❤️ Simon Brown * I hold ungeared positions. All charts by KoyFin | Get 10% off your order  

🌍 Worldwide Markets Ep. 649 – Building a Second Brain 🧠✨ Recorded on 24 September 2025 (from the beach!) – Hosted by Simon Brown This week, Simon takes a break from market talk 📉📈 to explore something equally powerful: how to manage the flood of data and information we face every day. Instead of focusing on stocks, currencies, or central banks, he dives into the idea of creating a "second brain" — a system to capture, organize, and use knowledge effectively. 🔑 Episode Highlights 🧠 Brains are great at decisions – quick choices like what to eat or which route to take. But storing and retrieving data? Not so much. ✍️ Handwritten notes win – research shows writing helps memory more than typing. Simon shares how digital handwritten notes improve recall. 📅 Calendars as to-do lists – forget endless apps. Simon's hack: putting everything (from work deadlines to buying milk 🥛 & whiskey 🥃) in his calendar for one central source of truth. 📚 Building a Second Brain (by Tiago Forte) – the PARA + CODE framework that inspired Simon's system. 🗂️ PARA Framework P – Projects 🎯: Active tasks (e.g. upcoming presentations, podcast prep). A – Areas 🌐: Broader ongoing themes (like camping 🏕️ or tech gadgets 📸). R – Resources 📖: Interesting but general material worth saving. A – Archive 📦: Where used or finished items end up. 🔄 CODE Method C – Capture 📸: Snap photos, clip articles, jot notes into Evernote. O – Organize 🗃️: Sort into PARA a few times a week. D – Distill 💡: Pull out the key ideas & insights. E – Express 🗣️: Use the information for podcasts, presentations, articles, or even shopping lists 🛒. 🛠️ Tools Simon Uses Evernote 📱💻: Clunky but everywhere (phone, laptop, e-reader, iPad). Paid version makes it work seamlessly. Tried but moved on: Obsidian (too complex), Notion (powerful but not his fit), Raindrop.io (good for bookmarking but limited). 🎯 Why it Works ✔️ Frees up mental space – no more stressing about remembering. ✔️ Keeps data accessible & actionable. ✔️ Turns chaos (screenshots, random notes, cluttered camera rolls) into a system. ✔️ Supports Simon's creative and teaching work. 🙌 Your Turn Simon invites listeners to share their hacks: 👉 How do you manage the constant stream of info? 👉 Do you have your own "second brain" system? Send us your thoughts, tools, and strategies 💬. Simon Brown * I hold ungeared positions. All charts by KoyFin | Get 10% off your order 💡 Worldwide Markets is powered by Standard Bank Global Markets and Shyft – the global money app for travel, shopping, payments, and investments with the best forex rates anytime, anywhere. 🌍💳