Podcast
WorldWide Markets with Simon Brown
Hosted by JustOneLap.com · EN
All about investing on the JSE with Simon Brown. Every Thursday.
31episodes
Episodes
Newest firstAll episodes
The SpaceX IPO Valuation Reality Check | The Pope on AI
May 2600:20:56Tap to summarizeSpaceX comes to market on 12 June at a $1.75 trillion valuation — 94 times sales, where Amazon trades at four. Simon walks through where to actually buy it (Robinhood, Charles Schwab, Fidelity), why xAI is a rounding error in the AI race, and why Tesla is likely to be rolled into SpaceX within two to three years. Plus the Dow Jones turns 130, Moody's lifts South Africa's outlook from stable to positive, Balwin delists at below NAV with Calgro M3* potentially next, and stocks on the move including Shoprite*, AB InBev, Impala Platinum, and Gold Fields. Topics: SpaceX IPO, Dow Jones, Moody's, Balwin delisting, Calgro M3, Canal Plus, Pope Leo XIV on AI, oil, Shoprite, AB InBev, Implats, Gold Fields, Anglo Gold Ashanti. WorldWideMarkets is part of JustOneLap.com.
Transcribe →Bond Yields Are Screaming | Why Isn't Anyone Calling It a Crisis?
May 1900:24:01Tap to summarizeGlobal bond yields are spiking to multi-decade highs across the US, UK and Japan, and Simon Brown argues this looks a lot like the emerging market debt crises markets usually call doom and gloom. He unpacks the Pick n Pay sell-down of Boxer shares, the Eastern Cape floods threatening the citrus crop, and the absurd Cerebras IPO trading at 150 times sales. Plus an update on JustOneLap's institutional-grade research project, results from Calgro M3, WeBuyCars and Astral, the Global Investment Returns Yearbook 2026, and three stocks on the move: British American Tobacco, BHP Group and Clicks. WorldWideMarkets is part of JustOneLap.com.
Transcribe →Boxer's Blinder & The Pick & Pay Valuation That Makes No Sense
May 1200:20:53Tap to summarizeBoxer 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 Anthropic, Google, and OpenAI. WorldWideMarkets is part of JustOneLap.com.
Transcribe →Hyperscaler Results, Berkshire's Cash Pile and Fuel Pain
May 500:20:02Tap to summarizeHyperscaler 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, the fuel price hike lands tomorrow with Brent back at $114, putting fragile consumer stocks under pressure. Plus an update on using AI for institutional-grade research and the upcoming JustOneLap events. WorldWideMarkets is part of JustOneLap.com.
Transcribe →Tim Cook Out, Tariff Refunds In, Markets Back At Highs
Apr 2100:23:12Tap to summarizeUS 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 negative. WorldWideMarkets is part of JustOneLap.com.
Transcribe →The Hormuz "Blockade" Has Fine Print | So Does the SA Fuel Crisis
Apr 1400:21:17Tap to summarizeUS 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 reality of the Straits of Hormuz "blockade" — it has T's and C's. Plus a long-overdue Bitcoin check-in. WorldWideMarkets is part of JustOneLap.com.
Transcribe →SA Retail Stocks: Where the Value Is Right Now
Apr 700:22:19Tap to summarizeSouth 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. Topics covered: JSE retail sector, food retailers, clothing retailers, Iran oil risk, consumer inflation, SA discretionary spending. WorldWideMarkets is part of JustOneLap.com.
Transcribe →Six Space Stocks Reviewed, Which Ones Are Worth It?
Mar 3100:21:43Tap to summarizeSimon 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 collapse, and explains why CrowdStrike's CEO selling stock is not worth losing sleep over. WorldWideMarkets is part of JustOneLap.com.
Transcribe →Tariffs are Back with no Ceiling and Gold at $4,000
Mar 2400:20:31Tap to summarizeWorldWideMarkets 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 exposure and Franco Nevada (FNV) as a low-risk gold streaming alternative to miners. Plus the MPC rate decision preview and a quick plug for the new AI in the Wild column. WorldWideMarkets is part of JustOneLap.com.
Transcribe →War, Fuel & Fertilizer: The Inflation Pipeline
Mar 1700:21:09Tap to summarizeWorldwide Markets — Episode 680 | 18 March 2026 Powered by Standard Bank, Global Markets, Retail and Shyft ⛽ 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 Hormuz. Saudi Arabia, Iraq, UAE and Kuwait have cut production. Strategic oil reserves are being released globally. 📉 Market Reactions Drops from the start of the war's close: China -1%, US -4%, UK -5%, Europe -6%, India -8%, Japan -9%, South Korea -12%, UAE -15%, SA -~10%. The rand at R16.72, SA 10-year bond yield has surged from below 8% to 8.9% — a massive move. 🌍 Emerging Market Risks A deep dive into countries with high USD-denominated debt and heavy oil imports. The most vulnerable: Mozambique (38% USD debt), Ghana (28%), Egypt (27%), Sri Lanka (26%), Pakistan (22%). Egypt is the only one in the MSCI EM Index — at a 0.03% weighting — so the direct ETF risk is limited. But Egypt and Pakistan carry real standalone risk. 🌱 Fertilizer & Food Prices Urea (a byproduct of LNG) is largely sourced from the UAE — and it's not moving right now. Fertilizer prices are spiking. Combined with diesel costs, food price inflation is coming — just with a lag. Casey Sprake (AG Capital) maps the timeline: transport 1–3 months, food 1–3 months, broader CPI 4 months, electricity up to a year. 🛒 Mr. Price* Update The investor presentation on the German fashion retailer acquisition landed today. Stock was up ~2.5% earlier but has since retreated into the red — not an aggressive selloff, with support just below R170. 📊 Results Roundup AVI — solid numbers, strong margin protection, fashion had a surprisingly good December Weaver Fintech (formerly HomeChoice) — buy-now-pay-later funnel leading into unsecured credit and insurance; majority female customer base; a neat business model Absa — not bad Standard Bank — exceptional cost discipline Optasia* — maiden results, trading around listing price of ~R19, P/E ~30x but expected to grow at ~30%, PEG ~1 💻 SaaS Check-in The "SaaS is dead" debate continues. Mass layoffs (e.g. Block shedding ~4,000 staff) mean lost per-seat licences and potential revenue pressure. Worth watching, but tech hiring data still skews net positive for now. 🏦 Fed Chair Watch Trump's nominee Kevin Walsh hasn't been sent to the Senate yet — possibly compliance issues (Walsh's spouse is a billionaire). Senator Tillis (R) says he won't vote for any Fed chair nominee until charges against Jerome Powell are dropped. Jerome Powell's term ends end of May. Outcome unclear. 🧺 UK CPI Basket Changes Non-alcoholic beer, hummus, croissants, motorhomes and international rail fares are being added. Wine categories merged. Vegetables better represented. February data drops 25 March. 🤖 AI in the Wild Simon shares a cautionary Claude Opus 4.6 experience — building a detailed initiation report on ADvTech* worked well in parts, but the final consolidation hit rate limits, produced a corrupted document, and then delivered a garbled output with wrong JSE codes and incorrect founder attribution. A reminder that very long context windows can degrade LLM output quality. Simon Brown * I hold ungeared positions. All charts by KoyFin | Get 10% off your order
Transcribe →