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)

🌍 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. 🌍💳  

🌍 World Wide Markets Ep. 648 – Cash-Rich Companies, Fed Cuts & China's Housing Woes Host: Simon Brown Date: 17 September 2025 📉 China's Housing Market New house prices fell 2.5% YoY – still negative since May 2022. Bottomed in October 2023 (-5.9%) and now trending upward. Reflects weak Chinese consumer confidence, similar to South Africa 🇨🇳🇿🇦. Evergrande's collapse still casts a shadow. Chinese New Home index YonY 🏦 Central Banks in Focus FOMC (US): Decision due Wednesday evening. Market expects 25bps cut, with more cuts likely in Oct & Dec. US unemployment says "cut", inflation says "don't cut" – a real policy squeeze. Trump pushing for FOMC shake-up & questioning quarterly reporting 📊. MPC (SA): Decision Thursday. Inflation at 3.5%, close to target. Mixed economist views: some say no cuts until 2027, others see cuts sooner. Fed cuts could influence SARB moves via rand 💵➡️🇿🇦. 📊 Trump vs. Quarterly Results Trump suggests companies report every six months instead of quarterly. Argument: reduces costs and red tape. Counterpoint: US market's strength lies in transparency & discipline from frequent reporting. Unlikely to change, but sparks debate on market "exceptionalism" 🇺🇸. 🏢 Three Stocks With More Cash & Investments Than Market Cap 1. 📰 Caxton (JSE:CAT) 💰 Cash: R3bn + R1.3bn stake in Mpact. Market cap: R4.4bn → stock "almost free" if stripped for parts. Dividend payer, PE \~7, yield \~5%. Not flashy, but offers Buffett-style margin of safety. 2. 🚚 Supergroup (JSE:SPG) 💰 Cash: R5.2bn, but liabilities of R9.5bn linked to assets held for sale. Supply chain, dealerships, fleet solutions. Debt-heavy, UK exposure risky 🇬🇧. Verdict: less attractive vs. Caxton. 3. 🛒 Pick n Pay (JSE:PIK) Owns 65.6% of Boxer → worth \~R20bn. Plus R5bn cash, R1bn debt, R2.8bn deferred tax asset. Market cap \~R20bn → potential undervaluation. PE ugly now, but 2027/28 earnings growth could re-rate it. Selling down Boxer stake could unlock value. ⚒️ Mining & M&A Anglo American buying Teck Resources (Canada, copper focus). * Increases copper weighting to \~⅔ of revenue. Head office shifting to Toronto 🇨🇦. Deal raises takeover questions – could BHP* come back for Anglo? 🇨🇳 Nvidia vs. China China says Nvidia violated anti-monopoly laws (linked to 2020 acquisition). Also probing Texas Instruments for "dumping". Comes as US-China trade talks continue, TikTok deadline looms ⏳. Possible bargaining chip in ongoing negotiations. Simon still holds Nvidia. 🧠 Next Week: Second Brain Special Simon explains how to build & use a "second brain" for decision-making & information management. Because our brains are great at decisions 🧠✔️ … but terrible at remembering ❌. 👉 Powered by Standard Bank Global Markets & SHYFT – The global money app for forex, travel, shopping, payments & investments. Simon Brown * I hold ungeared positions. All charts by KoyFin | Get 10% off your order  

🌍 Worldwide Markets – Episode 647 (9 Sept 2024) This week on *Worldwide Markets*, Simon Brown dives into global markets, tech giants, crypto shifts, commodities, and currencies. Recorded a day early before heading to Leaderex, here's what's moving markets right now. Powered by Standard Bank and Shyft. 💳🌐 📊 US Jobs & Rate Cuts US jobs report was a mixed bag → +22k jobs, but mostly in healthcare. June revised downward to negative, July slightly up. Unemployment steady at 4.3%. Market expectation: Fed to cut rates next week after Jackson Hole signals. SA MPC unlikely to cut as inflation edges higher at 3.5%. 🔍 Alphabet (Google) Court Cases Alphabet gets a gentle slap on the wrist in antitrust cases. Remedies minimal → no spin-offs of Chrome/Android, search payments (Apple $20bn/year, Firefox $750m) remain. Stock ran to **all-time highs 🚀 (PE still below historical mean). Another case pending on ad dominance – possible spinoffs (YouTube, DoubleClick?) could unlock hidden value. ₿ AltVest → African Bitcoin Corporation AltVest rebrands to African Bitcoin Corporation (ABC). Pivot: becoming a Bitcoin treasury company like MicroStrategy. Raising R11m at R11/share (vs. current ±R5). Proceeds to fund name change + Bitcoin buys. Ambition: raise R210m (maybe even $210m?) in tranches. Risky bet → doubling down on volatile BTC exposure. ⚡ 🛢️ Oil & Sasol OPEC+ to increase output ~200k barrels/day. Saudi Arabia aims for market share → oil likely heading to $60. Sasol still strong 💪 → potential run to R135–R140 before Simon trims profits. 💡 ASML & Mistral (AI) Rumours: Dutch chip giant ASML investing \$1.5bn in French AI startup Mistral. ASML has cash $8.5bn, but risks blurring lines by funding customers' ecosystem. Simon skeptical: "Picking AI winners this early is messy." 📈 Bull Market Still Running SA Top 40 at record highs (95k+). Possible push to 100k points this month. "This is still a bull market until it's not." 🐂🔥 🥇 Precious Metals Gold → holding gains, bullish above \$3,450. Platinum & Palladium → strong breakouts, holding support. Silver → resilient above \$40. Precious metals complex all looking firm. ✨ 💵 Rand & Global Trade Rand currently at R17.55, with potential to test R17.00 if US cuts rates. Africa-China trade up 25% to $122bn → filling void left by US. 🇨🇳🤝🌍 🇺🇸 Trump's Tariff Exemptions Trump exempts; uranium, tungsten, graphite, gold, bullion from tariffs. Good news for SA resources sector. 🎙️ Final Thoughts Markets remain bullish, metals are shining, oil likely weaker, and crypto experiments continue. If you're at Leaderex, come say hi 👋. Powered by Standard Bank & Shyft – the global money app for payments, travel, and investing. Simon Brown * I hold ungeared positions. All charts by KoyFin | Get 10% off your order

📌 Key Themes This Week 📊 Naspers share split – AGM approves a 5-for-1 split to make shares more affordable for smaller investors. 💬 Jackson Hole update – Jerome Powell's last appearance as Fed Chair, shifting focus from inflation to jobs. Markets pricing in September & December rate cuts with high certainty. 💸 Trump & the Fed – Trump fires Fed Governor Lisa Cook ❌ and pushes to pack the Fed with rate-cut friendly members. 🇺🇸 Intel stake – Trump administration takes a 10% stake in Intel via the Chips Act, raising questions about "state capitalism." 📉 Dollar weakness – Dollar index slides, Rand strengthens to R17.44, risk-on sentiment in global markets. 💷 UK debt crisis – 30-year gilt yields at levels last seen in 1998 (5.6%). Mounting debt costs threaten stability. 📈 Company Results & Market Moves 🏫 ADvTech* Strong results: 5-year CAGR → Dividends +24%, Revenue +13%, EPS doubled. Enrolments still growing vs. competitor Curro shrinking. Expanding into tertiary education in Ghana 🇬🇭. Solid valuation: PE ~15, dividend yield ~3%. 🚢 Grindrod Decent numbers, disposing businesses to strengthen balance sheet. Awarded 3rd-party rail access via Transnet 🚂. Cheap valuation: PE ~8, Price/Book ~1. 🛢️ Sasol Results stronger than expected: Free cash flow R12bn (up from R7bn). Stock rallied past R120, eyeing R140. Needs stronger chemical markets, higher oil & weaker Rand for tailwinds. ⚙️ Nvidia (results pending) Market eagerly awaiting numbers. Results due Wednesday aftermarket. 🪖 Rheinmetall German defence stock up +160% YTD on European defence demand. Valuations stretched (PE 89 vs. mean 23). Possible overheated trade. 🌐 Macro Watch 📉 US inflation & rate cuts – Markets expect two cuts in 2024, possibly November too. Powell less worried about inflation at 2.5–3%. 🏦 Tariffs & inflation – Spread over time, reducing immediate shock but sustaining price pressure. 💵 Debt & inflation – Inflation helps deflate $30T US debt mountain faster. 💷 UK bonds – Debt costs rising sharply, pushing the UK into deeper fiscal stress. 📌 Quick Hits 📉 S&P 500 at 23x earnings – Historically, this leads to flat 10-year returns (±2%). 💱 Dollar trend – Weakening outlook continues, aligning with Trump's economic policy. 🇩🇪 Rheinmetall boom – Defence spending pushes stock sky-high, but risks of overheating. 📚 ETF database update – Now includes active ETFs 👉 justonelap.com/ETFdatabase. 🎥 Power Hour – Live session Tuesday 17:30 SA time, replay available later. 🎙️ Host: Simon Brown 📅 Recorded: Tuesday 27 August 2024 💡 Powered by Standard Bank & Shyft app 👉 Markets are on a risk-on rally 🚀, but with high valuations, debt risks, and political interference at central banks, caution remains the watchword. Simon Brown * I hold ungeared positions. All charts by KoyFin | Get 10% off your order    

🌍 Worldwide Markets Ep. 644 – 20 August 2024 🎙️ Hosted by Simon Brown This week's episode dives into Buffett's latest moves, Google's iconic IPO, and big results from Standard Bank, MTN, and Sasol. Here's what you need to know: 📈 Buffett Buys UnitedHealth – Should You Follow? Berkshire Hathaway picked up UnitedHealth (UNH). Stock has fallen from $600 → $308 due to federal investigations ⚖️. On paper, valuation looks attractive: Forward PE ~19 (below long-term average). Price-to-book ~2.9 vs decade average of 4.9. Analysts split: 2 sells, 5 holds, 12 buys, 6 strong buys. ⚠️ Simon's take: "Don't blindly follow Buffett. Healthcare is a regulatory minefield. Use it as a starting point, not a buy signal." 🩺 Healthcare Investing Alternatives Johnson & Johnson* (JNJ) – more stable exposure. Healthcare services & REITs (e.g. hospitals, medical equipment). ETFs on JSE: Satrix Healthcare Innovation ETF (STXHLT). Signia's healthcare exposure sits in their active funds. Note: Active ETFs will soon be added to local databases ✅. 🏦 Standard Bank Results ROE: 19.1% – huge number. Forward PE: 8 (cheap vs historical 10.1). Dividend yield: 6.6% 💰. Price-to-book: 1.4 (in line with decade average). Expanding strongly across Africa 🌍. Simon: "Boring, quality portfolio stock. I like it, but waiting for cheaper entry near 240." Standard Bank | Weekly 📱 MTN Results Headline numbers looked great due to base effects from currency collapses in Ghana 🇬🇭 & Nigeria 🇳🇬. Market unimpressed: stock fell 8% 📉. Still strong 1-year return: +77% (incl. dividends +83%). Forward PE ~13.5 vs long-term 25 → appears undervalued. Risks: exec churn, CAPEX-heavy, regulatory hurdles. Simon: "Not a fan of telcos – data is just a utility." 🛢️ Sasol Update Stock bounced from R50 → R100. Weak oil price outlook could hurt 📉. Operations improving, second-half expected stronger. Simon's take: "Not a long-term hold. More of a trade: buy around R100, maybe ride it to R140, then get out." 🔎 Google's IPO Turns 21 🎂 IPO'd in 2004 via Dutch Auction – gave retail investors equal footing vs institutions. Raised $1.66bn at $85/share. Today's market cap ~ $2.5 trillion 🤯. Return: ~8,000% since IPO 🚀. Fun fact: for years, Domino's Pizza IPO (same week) had similar returns 🍕 vs 🔍, but Google pulled ahead. Regulatory cloud: pending US judgment in August could hit stock short term ⚖️ → Simon says: "If it falls, I'll be buying." 💡 Key Takeaways Don't just copy Buffett – do your homework 📝. Healthcare remains risky but ETFs & REITs offer cleaner exposure. Standard Bank looks solid, MTN looks risky, Sasol looks tradable. Google's IPO remains one of the best investments of all time – and could still offer value despite regulation headwinds. 👉 Worldwide Markets is powered by Standard Bank Global Markets and Shyft – the app that gives you the cheapest forex rates anytime, anywhere 🌍📱. Simon Brown * I hold ungeared positions. All charts by KoyFin | Get 10% off your order  

🇺🇸 US Inflation – Numbers come in softer than expected 📊, fuelling hopes for a **September rate cut** from the Fed 🏦. ⛽ Sasol trading update – PE under 3 😮, H2 profits looking stronger, and the market loving it (+9.7% 🚀). 💰 Share buybacks – Why US companies love them, the tax angle, and Apple's massive \$100bn spree 🍏. Apple out standing shares 🪙 Gold & the Resi10 index – Resource stocks roaring in 2024, +72.5% YTD 🤯, but will gold break out of its range?  Gold Weekly | 12 August 2025 🇨🇳 China trade surplus – Despite tariffs & tensions, it hits a record \$1.2 trillion 📦. 🖥️ Trump vs. Nvidia & AMD – AI chip sales to China now taxed at 15%, and Beijing warns against buying certain models 🤖. 📊 Tool – Just One Lap's ETF Database is live! Filter by issuer, classification, tax-free status, and even search top holdings 🔍. Powered by Standard Bank & Shyft – the global money app for travel, shopping, payments & investments 🌍. Simon Brown * I hold ungeared positions. All charts by KoyFin | Get 10% off your order

🎙️ Worldwide Markets – Episode 642 📅 Recorded: Tuesday, 5 August 💼 Host: Simon Brown 🌍 Powered by Standard Bank Shyft – The global money app for travel, shopping, payments & investing. 🔮 Market Highlights 📈 Purple Group* rocks 🚀 Share price has more than doubled since April lows. 🧾 PE at 56, but strong growth potential and product expansion. 💼 Simon holds the stock — bought low, holding for the long term.   🏦 MPC shifts inflation target 🎯 🔽 New anchor at 3%, down from 4.5%. ⚠️ Finance Minister pushes back — governance concerns. 💸 Lower inflation = lower raises = better expectations management. 🧨 Flip side: high real interest rates hurt growth & jobs.   🚗 Vehicle sales boom 📊 July sales >51,000 units — highest since 2019! 🛻 Light commercial vehicles dominate, Mahindra sneaks into Top 10. 💰 CMH* shines with low PE and high dividend — Simon holds. 📉 Motus also cheap, but Simon prefers CMH.   🪙 Gold miners printing money ✨ AngloGold Ashanti*: 🚜 Production +21% 💰 Free cash flow +149% 📉 Net debt down 92% 💵 80c dividend 💹 Targeting R1,000/share — already at R972! ✨ Gold Fields also up ~150% YoY on earnings.   🧾 US Bureau of Labor Statistics drama 🇺🇸 🔥 Trump fires BLS head after unfavourable jobs data. ❗ Undermines trust in data — risks U.S. credibility. 🌎 Bad precedent: Greece, Argentina, China have all suffered from politicised stats. 🍊 Tariffs impact SA agriculture 🇺🇸 U.S. tariffs on citrus & grapes kick in Thursday. 📉 Sector exposure: ~10% — not massive but not zero. 👨‍🌾 Some farmers and related stocks (e.g. Mpact) will take a hit. 🧠 Random Insights 🪙 Crypto in Parliament? 🇿🇦 Of 490 South African parliamentarians… only 2 declared owning crypto. 🤷‍♂️ No surprise crypto isn't getting policy attention. Simon Brown * I hold ungeared positions. All charts by KoyFin | Get 10% off your order    

🔺 Tariffs Incoming 🇿🇦 SA faces 30% US tariffs starting Friday. 🚗 Auto industry, 🍊 citrus, 🚚 logistics & 🧪 fertilizer sectors (like Omnia, Kaap Agri, Impact) to feel the heat — but no fatal blows expected. 📉 MPC Policy Misfire? 💰 SA inflation at 3%, but rates still stuck at 10.75%. 📉 Is the MPC behind the curve? Simon says: Yes. 📉 Calls for a rate cut of at least 0.5% to 1%. SA CPI and Prime | 29 July 2025 🥇 Why Hasn't the SARB Bought Gold in 20 Years? 📊 From 2005 to 2025: only ±48,000 ounces added. 📉 Gold outperformed the USD by a wide margin (680% vs 171%) over 20 years. 🤔 Why the gold aversion? Simon wants answers. 📈 Structured Product Spotlight 💼 New Standard Bank product: ✔️ 100% capital guarantee ✔️ 1.8x upside gearing ✔️ MSCI World Index exposure 📆 3.5 year duration, paid out in ETFs 💸 Min R25k. Closes in Sept. 🚘 Chinese Cars Disrupting the Market 🇨🇳 Omoda CX5 & CS9 – slick, affordable, feature-packed 💡 Screens bigger than laptops, prices lower than rivals ⚠️ Toyota, Ford, VW: Time to worry? 💊 Big Pharma Blunder 🤦‍♂️ Novo Nordisk loses Canadian patent by forgetting to pay a $250 fee 📉 Generics incoming. Massive oops. 🔍 Alphabet Results 💹 Stock up 15% since Simon's last mention 💰 $95bn cash, low debt ⚖️ Facing antitrust heat – rulings incoming 📉 Possible price dip = buying opportunity? 📢 Next week: Who owns what in Parliament? Crypto, shares, surprises await… 🧠 Hosted by Simon Brown 💳 Powered by Standard Bank & Shyft – the global money app for smart travellers & investors