Libsyn Directory

Hyper Capex Spending | Junior Miner Pain

Release Date: 02/10/2026

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...

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,...

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...

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...

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....

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...

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...

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...

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...

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...

More Episodes

🎙️ Worldwide Markets – Episode 665

📅 11 February | 🎧 Recorded Tuesday around lunchtime
💼 Powered by Standard Bank Global Markets & Shyft

🌍 This week in markets

Massive hyperscaler CapEx is back in focus 💰🏗️
Markets appear calmer – the worst of the recent collapse may be behind us 😮‍💨
Bitcoin mining costs now around $70,000, putting pressure on miners ⛏️₿
A deep dive into junior miners – why so many of them struggle ⚒️📉

🏗️ Hyperscalers go full throttle

2025 CapEx spend near $380bn, well above expectations
2026 estimates push towards $660bn when Oracle is included
The hyperscalers:
- Microsoft, Meta, Alphabet, Amazon ☁️
The “shovel sellers”:
- Nvidia*, ASML*, TSMC 🧑‍🏭🪓
Key shift: these businesses are no longer asset-light
Warning signs emerge as some stocks trade below their 200-day moving averages ⚠️📉

“Nothing good happens below the 200-day.”

📊 Stocks & charts

Microsoft & Meta showing the most technical stress
Nvidia* and ASML* still look healthy on the charts ✅
Apple largely staying out of the AI CapEx frenzy 🍏
1nvest ETF5IT*: profits taken previously, now watching closely 👀

🤖 Software shock & AI disruption

Growing fear around software-as-a-service under pressure
New AI tools like Claude and “vibe coding” spooking SaaS names 💻😬
Reality check:
- Niche software may struggle
- Enterprise platforms (e.g. Salesforce-type businesses) are harder to replace

🪙 Bitcoin, gold & currencies

Bitcoin dipped below $60,000, now rebounded to mid-$60k
Mining economics tight at current prices ⚠️
Gold back above $5,000, refusing to consolidate 🥇🔥
Ongoing dollar weakness and rand strength 💵⬇️ 🇿🇦⬆️

🌐 The debasement trade

Signs of slow de-dollarisation and capital moving out of US Treasuries
China reportedly limiting (not stopping) US bond buying 🇨🇳📉
Key takeaway:
- This is a multi-decade trend, not a short-term trade 🐢
Governments reduce debt via:
- Inflation
- Currency weakness

🖥️ A possible opportunity: servers

Hyperscalers replacing ageing chips & servers faster than expected
Alphabet spending up to $185bn, with ~⅓ just on replacement 🔁
Question raised: Is Dell a quiet AI beneficiary? 🖥️📦
- Forward PE near 10
- Analysts broadly constructive

⚒️ Junior miners: why it’s so hard

Spotlight on Copper 360, Orion, ASP Isotopes*
The commodity may be in the ground – but:
- Extraction is complex
- Capital is hard to raise
- Logistics, infrastructure & communities matter 🚧
Junior mining = high risk by design 🎢
Even experienced operators fail

📢 Events & deadlines

Power Hour – 19 February
🕠 17:30 | 💻 Webinar or 🏢 Rosebank
- Tax-free investing beyond TFSA
- ETFs, income strategies & Reg 28
Important reminder ⏰
- Many providers have early contribution deadlines
- Don’t leave Reg 28 or TFSA top-ups to the last minute

👉 More info: justonelap.com/events