As Uncertainty Rules, Rate Cuts are Gone
WorldWide Markets with Simon Brown
Release Date: 03/10/2026
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...
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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,...
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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...
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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...
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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....
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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...
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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...
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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...
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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...
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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🌍 World Wide Markets – Episode 669
📅 11 March 2026 | Hosted by Simon Brown
Powered by Standard Bank Global Markets, Retail & SHYFT
🧭 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 $90
- Current level: ~$91
That still means oil is about 50% higher year-to-date.
The big issue remains disruption around the Strait of Hormuz.
🚢 Shipping traffic
- Normal flow: ~20 million barrels/day
- Last Wednesday: 0 barrels
- Monday: ~20% of normal
Oil supply is slowly returning, but the situation remains fragile.
⛽ What This Means for South Africa
Higher oil prices feed directly into local fuel prices.
💸 Earlier estimates suggested:
- Petrol: +R5.40
- Diesel: +R10
After oil pulled back slightly:
- Petrol increase may be ~R3
- Diesel ~R5
Still extremely painful for the economy.
📈 Inflation & Interest Rates
Oil shocks ripple through inflation.
📊 Rule of thumb:
Every $10 increase in oil adds ~0.4% to global inflation.
With oil roughly $30 higher, that could mean:
➡️ ~1.2% extra global inflation
For South Africa, that pushes inflation above 4% again.
🏦 Rate Cuts Are Off the Table
Upcoming meetings:
- 🇺🇸 Fed decision: 18 March
- 🇿🇦 SARB MPC: 26 March
Previously expected: rate cuts.
Now?
❌ Cuts unlikely
Central banks will wait to see if second-round inflation effects emerge, things like higher transport and food costs.
⚔️ The War Question
Markets are asking one thing:
How long does this conflict last?
Current signals:
- Iran says it won’t capitulate
- US and Israel still active
- UAE attacks have slowed
One possible constraint: missile inventories.
Iran’s cheaper drones and missiles are being intercepted by extremely expensive defence systems.
At some point, stocks run out.
🛢️ G7 Emergency Oil Plan
The G7 strategic reserves may be tapped.
📦 Strategic reserves: ~1.2 billion barrels
Possible release:
➡️ 300–400 million barrels
This could cover roughly 15–20 days of supply shortages caused by Hormuz disruptions.
That would buy time while infrastructure is repaired.
📉 Best vs Worst Oil Scenarios
Best Case
✔ Conflict ends within weeks
✔ Strategic reserves released
✔ Oil stabilises in the $80s
Worst Case
🔥 War escalates
🔥 Shipping disruptions persist
🔥 Oil spikes to $150–$200
At those levels, we start seeing demand destruction — people simply use less energy.
🤖 New Structured Product: AI & Big Data Auto Call
Standard Bank has launched a new structured product.
📊 AI & Big Data Auto Call
Key features:
💰 Return: 14% per year
📅 Term: Up to 5 years
🔁 Auto-call: Annual payout if index is flat or positive
💵 Currency: Rand
📉 Capital protection: Up to 30% downside buffer at maturity
📥 Minimum investment: R25,000
🧠 Index Constituents
The product tracks the Solactive AI & Big Data Index.
Top holdings include:
- Nvidia
- Palantir
- Snowflake
- AMD
- Broadcom
- SoundHound AI
- Kingsoft Cloud
- BigBear.ai
- DataVault
- Zenitech
Total: 30 companies in the index.
🇿🇦 SA GDP: Small Steps Forward
South Africa released Q4 GDP.
📊 Q4 2025: +0.4%
Full-year growth:
- 2024: 0.5%
- 2025: 1.1%
Not amazing, but improving.
Forecast for 2026:
📈 1.6% – 1.8%
If that happens, SA could finally see GDP growth above population growth, meaning real gains in wealth per person.
🎬 Paramount Buying Warner Bros (Again…)
The media industry continues consolidating.
Deal overview:
💰 Paramount Skydance buying Warner Bros Discovery
📦 Price: ~$100 billion
Netflix initially pursued the deal but walked away.
💵 Result:
- Netflix collected a $2.8B break fee
- Its stock jumped ~15%
🇨🇳 Tencent Joins the Deal
New twist:
Tencent plans to invest several hundred million dollars in the acquisition.
For South African investors:
Satrix 40 → Naspers → Prosus → Tencent → Paramount.
Yes… it’s complicated.
🎥 Why Simon Thinks This Is a Bad Idea
The concerns:
📉 Traditional media is declining
🤖 Studios betting on AI-generated content
🏛️ Politics may influence the deal
Warner Bros also has a long history of failed mega-mergers, including the infamous AOL–Time Warner disaster.
Simon’s take:
This deal will likely be unwound later and probably at a lower price.
🕒 Market Hours Change
The US switched to daylight savings.
New trading times for South Africa:
📈 US markets open at 15:30 (was 16:30)
✈️ Personal Note
Simon is heading to Durban this weekend for his nephew’s 18th birthday.
Time flies.
✔ Key Takeaway
Markets right now are being driven by geopolitics and energy prices.
Until the oil situation stabilises, central banks, and investors, are likely to remain cautious.
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