Boxer's Blinder & The Pick & Pay Valuation That Makes No Sense
WorldWide Markets with Simon Brown
Boxer just posted ShopRite-level operating margins — so why is Pick & Pay, which owns 65% of it, trading at an implied negative enterprise value? Simon Brown unpacks the R10bn valuation paradox and whether it's a genuine opportunity. He also walks through his new AI-powered research workflow, using Claude and ChatGPT to produce and fact-check full initiating coverage reports on Balwin Properties and Raubex. Plus: gold miners Goldfields and AngloGold Ashanti on costs, Meta at its cheapest forward PE since 2022, and Open Router token data that shows xAI running a distant fourth behind...
info_outline
Hyperscaler Results, Berkshire's Cash Pile and Fuel Pain
WorldWide Markets with Simon Brown
Hyperscaler results from Microsoft, Amazon and Alphabet produced numbers that almost don't seem real — combined remaining performance obligations of $1.46 trillion and Q1 capex of $112 billion. Simon unpacks where that money is going, why copper is the quiet beneficiary, and which JSE stocks give exposure. Berkshire Hathaway is sitting on $380 billion in cash, roughly 38% of its market cap — a meaningful drag while US markets sit at highs. The memory makers — Samsung, SK Hynix and Micron — are choosing pricing power over capacity, with SK Hynix on a forward PE of 4.5. Closer to home,...
info_outline
Tim Cook Out, Tariff Refunds In, Markets Back At Highs
WorldWide Markets with Simon Brown
US markets hit all-time highs this week even as $166 billion in Trump tariff refunds start processing — a windfall for retailers, but consumers who paid inflated prices at the till won't see a cent back. Tim Cook is stepping down at Apple with John Ternus taking over, Amazon is spending $11.57 billion to buy Globalstar and build a Starlink rival, and Netflix delivered Q1 results with a $2.8 billion Warner break fee buried in the numbers. Simon also breaks down the Fed Chair nomination battle, why market recoveries are getting faster, and the sixth anniversary of the day WTI oil went...
info_outline
The Hormuz "Blockade" Has Fine Print | So Does the SA Fuel Crisis
WorldWide Markets with Simon Brown
US results season opens with Goldman Sachs and Johnson & Johnson both beating expectations — but the more interesting story is what those results don't show yet: the full impact of Middle East conflict and Trump's drug pricing pressure. Simon also unpacks South Africa's looming fuel crisis and makes the economic case for working from home, a new 100% offshore ETF listing on the JSE from ETFSA, and an ASP Isotopes update for those holding a speculative position. FNB's FCA-mandated R11.9bn provision for undisclosed UK vehicle finance commissions gets a full breakdown, as does the nuanced...
info_outline
SA Retail Stocks: Where the Value Is Right Now
WorldWide Markets with Simon Brown
South African consumer stocks have been hammered. In Episode 673 of WorldWideMarkets, Simon Brown works through the JSE's food and clothing retailers — Shoprite, Boxer, Pick n Pay, SPAR, Pepkor, Foschini Group, Mr. Price, Lewis, and Woolworths — asking where genuine value has emerged and where cheap simply means broken. He also sets the macro scene with Trump's Wednesday deadline on Iran peace talks and what a Straits of Hormuz transit fee would mean for oil prices and inflation. Stock by stock: valuations, analyst targets, dividend yields, and Simon's honest take on what he holds and why....
info_outline
Six Space Stocks Reviewed, Which Ones Are Worth It?
WorldWide Markets with Simon Brown
Simon reviews six listed space stocks ahead of the expected SpaceX IPO, which could debut above $2 trillion as early as June. Rocket Lab, AST SpaceMobile, Intuitive Machines, Firefly Aerospace, Planet Labs and Spire Global each get a SWOT breakdown, with the Procure Space ETF (UFO) as a diversified alternative. On the local front, the JSE Top 40 just posted its worst month since September 2008, falling roughly 10 percent from all-time highs. A massive petrol price increase takes effect at midnight. Simon discusses investing into a falling market, revisits the Algorithm Holdings AI hype...
info_outline
Tariffs are Back with no Ceiling and Gold at $4,000
WorldWide Markets with Simon Brown
WorldWideMarkets episode 671 covers the return of US tariffs through Section 301 investigations targeting South Africa and 60 other countries — with no rate ceiling and no court precedent to stop them. Simon unpacks the Iran war's tentative ceasefire talks, why Goldman Sachs revised its Brent forecast to $85, and what happens to oil and interest rates if the conflict drags on. Monday's sharp gold selloff gets a post-mortem: leveraged FOMO unwinds, Turkey tapping reserves, and profit-taking after a year of doubling. Two stock ideas round out the episode: Rocket Lab (RKLB) for pure-play space...
info_outline
War, Fuel & Fertilizer: The Inflation Pipeline
WorldWide Markets with Simon Brown
Worldwide Markets — Episode 680 | 18 March 2026 Powered by Standard Bank, Global Markets, Retail and ⛽ Fuel Price Pain Coming Petrol 95 up ~R4.50/litre and diesel up ~R7.50/litre from the first Wednesday in April. On a 50-litre tank that's R200+ for petrol and close to R400 for diesel. Fill up before April if you can. 🛢️ Oil & The Iran War Brent holding above $100/barrel (currently ~$103.50) — briefly dipping to $99.80 on Monday before recovering. Markets are pricing in a short war. Some vessels — largely Iranian-linked ships — are still moving through the Strait of...
info_outline
As Uncertainty Rules, Rate Cuts are Gone
WorldWide Markets with Simon Brown
🌍 World Wide Markets – Episode 669 📅 11 March 2026 | Hosted by Simon Brown Powered by Standard Bank Global Markets, Retail & 🧭 Market Mood: Chaos Means Doing Nothing With geopolitical tensions and wild commodity moves, markets are extremely uncertain. Simon’s strategy right now? 🧘 Do nothing. Panic trading rarely helps. In times of chaos, sometimes the best move is to step back, ignore the noise, and let events unfold. 🛢️ Oil Shock: From $60 to $120 Oil has been incredibly volatile. 📊 Recent moves Early January: ~$60 Monday spike: ~$120 Tuesday: briefly below...
info_outline
Budget Boost, Oil Shock | SA's Two-Speed Week that Changed the Narrative
WorldWide Markets with Simon Brown
⚖️ Budget Boost: A Rare Win for Taxpayers 🇿🇦💰 This week kicked off with a surprisingly investor-friendly South African budget — and markets initially loved it. Key Changes: 📈 CGT annual exclusion: R40,000 → R50,000 🏠 Primary residence CGT exclusion: R2m → R3m 💼 Retirement contribution limit: R350k → R430k (or 27.5%) 🌍 Offshore SDA allowance: Doubled to R2m 🎁 Donations tax exemption: R100k → R150k 🧾 Tax-free savings annual limit: R36,000 → R46,000 🏢 VAT registration threshold: R1m → R2.3m After years of “tax by stealth,” this budget offered...
info_outline🌍 Worldwide Markets – Episode 664
📅 Recorded: Tuesday midday | 🎙️ Host: Simon Brown
This week on Worldwide Markets, we unpack a wild ride across commodities, central banks, tech titans, and global trade — with gold stealing the spotlight once again.
🟡 Has Gold Bottomed?
Gold went vertical — and then snapped back hard.
-
📈 Ran from around $4,300 → $5,600, before a brutal sell-off
-
📉 Dropped to $4,600, now stabilising near $4,900
-
🕯️ That giant red “kangaroo tail” candle looks ugly — but…
The bigger picture hasn’t changed:
-
💵 Debasement trade still intact
-
🌍 Central banks bought ~800 tonnes last year
-
🏦 ETF investors were big buyers again after selling in 2024
➡️ Verdict: Likely consolidation, not collapse. Sideways is the base case.
Gold |Weekly | 03 February 2026
🧱 Commodities Ran Too Hot
It wasn’t just gold:
-
🔩 Copper, silver, platinum, palladium all surged
-
🛢️ Brent crude nearly hit $70
-
🪨 Aluminium hit US record prices, creating transatlantic arbitrage
Nothing goes straight up forever — profit-taking was inevitable.
🪙 What About Silver?
Simon stays honest here:
-
❓ Industrial demand and price dislocations matter
-
⚠️ But silver remains complex and opaque
💡 Portfolio stance:
-
✅ Holding gold miners
-
✅ Holding gold ETFs (local & offshore)
-
❌ No silver exposure — and comfortable with that
🏦 Fed Drama: Enter Steve Walsh
Trump’s Fed chair nominee spooked markets — but context matters:
-
🔄 Walsh is not a hawk, more a rate flip-flopper
-
🗳️ Previously opposed rate cuts… until Trump won
-
📉 Trump wants lower rates — Walsh says he’ll deliver
The challenge?
-
🧠 Convincing the rest of the FOMC
-
🪑 Jerome Powell still has influence for now
➡️ Expect noise, not an instant policy pivot.
🚀 SpaceX + xAI = Trillion-Dollar IPO?
Big Elon energy this week:
-
🛰️ SpaceX acquires xAI
-
🧠 Grok + data + power + space = big ambitions
-
📊 IPO rumoured for mid-2026
-
💰 Valuation likely north of $1 trillion
Simon likes SpaceX… less excited by the social-media side.
🚗 SA Vehicle Sales: Still Strong
January numbers surprised again:
-
📊 Sales near levels last seen in 2019 / early 2022
-
🏆 Toyota leads, but Chinese brands keep climbing
-
🇨🇳 Chery, GWM, JAC & friends reshaping the market
Consumers are still buying — despite high rates.
🤝 US–India Trade “Peace”… Sort Of
A deal was announced, but details are fuzzy:
-
📉 Tariffs reduced (somewhat)
-
🛢️ India supposedly to stop buying Russian oil (👀)
-
💸 India to buy $500bn of US goods (timeline unclear)
History lesson:
-
🌮 Trump tariff threats turn real only ~20% of the time
-
⚖️ Supreme Court still deciding if Trump even has the authority
➡️ Lots of headlines, fewer guarantees.
🎓 Upcoming Event: Power Hour
📅 19 February
📍 Rosebank (in-person) + webcast
💡 Topic: Tax-Free Investing & ETFs
👉 Book at justonelap.com/events
👋 Closing Thoughts
Markets are noisy, emotional, and fast — but the big-picture trends still matter more than the candles.
Until next week:
🤍 Look after yourself
🤍 And if you can, look after someone else too
Cheers! 🍻