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You're listening to Strictly Business
Podcast with Lindsay Williams.

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JSC has closed its doors for another day,
so it's time for the 5 o'clock shadow.

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And as always on a Wednesday, I speak to
Scott Clow, portfolio manager and analyst

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at PSG Wealth, Old Oak in

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Cape Town.

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You can throw what you like at the market.

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You can bomb Iran with 30,000 tonne, no
12, sorry,

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30,000 tonne bombs.

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Israel and Iran can...

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be at war for 12 days and you think gosh
if i'd have just woken up and seen those

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headlines i would have thought that the
market would be down

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10 15 no not a bit of it very close to
record high scalp the s p i think yeah it

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is it is i mean there's this joke going
around and i'm not a great

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joke teller but did you see that um the
thing about um uh trump and now decided to

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to to

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build his first links golf course in Iran.

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No, I didn't see that joke.

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No, no, no.

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He apparently already finished the first
three holes.

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That's not fair.

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I thought that could give me a...

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Yeah, and still, like you mentioned, I
mean, it's just,

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he managed to literally, a day or two
later, well, let's say within a day,

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call both Israel and Iran up and say,
guys, that's it.

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We are now going to have a ceasefire and
we're going to talk about peace.

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Hours after he literally bombed the hell
out of Iran.

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I know.

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Over the line.

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I mean, okay.

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Firstly, I read yesterday morning when I
read this announcement, and

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I did look at this and I was like, what?

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You're giving Iran six hours to continue
their bombing and then they should start

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the ceasefire.

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And in the same moment he gave… Israel 12
hours.

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Oh boy, this is not going to end well.

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I think they waited eight minutes or
something like that, eight minutes before

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the deadline.

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Israel just pumped a few more missiles
into Iran.

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Okay, guys, that's it.

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We've got the ceasefire.

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It's interesting that Netanyahu says we've
finished our job.

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We finished our job.

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He didn't say anyway.

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He said we finished our job.

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Whether that was coordinated with Trump
saying the ceasefire starts now because

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Israel had told him, OK, we've done
enough,

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we've done all we can do.

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Or whether Netanyahu said that just to
save face because he's been bullied by

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Trump.

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I can't work out what it is.

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I think he's been bullied by Trump.

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And talking of Trump, he's just completed
a press conference, which I watched in The

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Hague.

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You've never seen him so confident.

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I mean, he's been completely emboldened by
the way that people have sucked up to him.

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Because they want him to carry on in NATO.

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They want the United States to carry on in
NATO.

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Because they've got three and a half years
more of Trump.

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So they have to be nice to him.

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And as for Mark Rutter, I used to like
Mark Rutter when he was the Prime Minister

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of the Netherlands.

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But to be so sycophantic and toady towards
Trump,

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that private letter was only private for
five minutes.

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I mean, that letter was ridiculous.

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I don't know.

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He's obviously the most powerful man in
the world, Trump, and you have to be nice

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to him.

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But to write that stuff.

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And today he called him Daddy.

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Did you hear that?

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Rutter called him Daddy.

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No, I didn't.

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But he must be the first president ever
to, in a formal press conference, throw

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the F-bomb.

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Yes.

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But it would just applaud him.

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I don't think in history I've ever had...

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Any president, let's call it US president
at least,

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throw the F-bomb in a formal press
conference.

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He said that Israel and he shouted just
before he got on, it was the last comment

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he made before he walked onto Marine One,

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the helicopter, to fly off to St.

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Andrews Airport space.

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He says, Israel and Iran don't know what
the F they're doing.

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It was, you know, you can't edit that out
because it's live, but CNN even played it

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again later on.

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It's the first time I've ever heard them
play a serious profanity on air.

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Exactly.

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It was a moment.

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I think it's a massive moment.

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I mean, I don't think there's enough made
out of this,

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because I think if the likes of President
Ramaphosa or somebody, you know, some

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other president,

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you know, had those shenanigans that would
have been i would have i would have

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thought that

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would have been massive massive massive
news and

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he even turned around after he actually
said that like you said he turned around

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and said did you get that did you get

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that yeah exactly anyway but be that so
the markets are going up because they

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think it's all over uh is it

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We hope so, of course, because it's very
destabilizing for the region,

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and that region is volatile enough without
this going on.

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But I can't help think that it'll make
itself known in other ways,

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whether it be low-level terrorism or
something.

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I don't know, Skagg.

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What's your opinion on this?

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It's over because Trump says it's over.

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Full stop.

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So one person.

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Well, I mean, I'm still waiting.

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I mean, I think he said when he went into
office,

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He's going to end the Russia-Ukraine war.

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What did he say?

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Was it two days?

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24 hours.

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No, 24 hours.

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That's it.

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That's it.

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You're 100% right.

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He said 24 hours.

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So we know he couldn't get that one over
the line yet.

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But there's a small matter of a date
called the 9th of July.

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Yes.

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Oh, that's tariff days.

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Oh, that's tariff days.

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That's tariff days.

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He actually paused the… terrorists for 90
days,

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and I think he's going to have a massive
problem if the whole world is throwing

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bombs at each other,

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and he needs to make the big announcement
that the US are going to whack the rest of

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the world with massive tariffs.

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I think he needs Iran and Israel to not
just sit around and be quiet, sit there,

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eat your food,

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just be quiet, let me just get this over
the line, and then you guys can do

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whatever you want to do.

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There's so many things that are up in the
air.

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When he first came in, we had the Panama
Canal, and we had Canada, and we had

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Greenland,

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all of these things.

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Not a mention of them anymore.

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Not a mention.

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Whether he's got a team working on these
imperialistic intentions, I don't know.

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But it's just, he goes from one thing to
another.

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His thing at the moment, Scott, and this
is a personal opinion, is he wants to get

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the Nobel Peace Prize, so he'll do
anything.

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He's claiming the India-Pakistan truce.

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And both India and Pakistan have said,
well, India, have any of us said, no,

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nonsense.

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We spoke to Pakistan.

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It was nothing to do with Trump.

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He's claiming that.

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But he wants that.

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And he also wants his flagging poll
numbers to be boosted because of what he's

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done to Iran.

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That's all it is.

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It's all personal.

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And anyone that says it's to make America
great again are wrong.

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He doesn't care.

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He'd like to.

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But what he'd like to is make Trump.

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great again.

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That's what he wants.

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Anyway, that's my little rant.

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How's that?

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Well, let's just, I'm just going to, we
need to,

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because I have specific instructions to
keep this short and sweet.

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Who told you that?

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Your wife?

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No, my wife.

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Naturally.

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So, I mean, whenever you've got a country,
and your country, when you're a company,

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your company is valued in something that
they call the share price.

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And if your share price improves, then
naturally you are doing well as a company,

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as management,

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as the CEO of a company, you're leading
this company to heights.

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And that's why the share price is
following and going upwards.

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Now, for a country, that share price is
called a currency.

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And when I look at the share price of the
USA, it's telling us, Mr.

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Market is not not really buying into the
leadership currently.

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Because, I mean, if you get a scenario
where inflation is fairly under control

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and

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Powell's turned around and said, guys, I
know I can, but we're not going to do

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this.

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I'm too worried about inflation going
forward, all the tariffs and the effect

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that that's going to have.

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We've got wars.

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I mean, he's not in too much of a rush.

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I mean, he made it blatantly clear again
yesterday.

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There is no major rush to.

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to decrease interest rates further for
now.

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It's going to stay higher for longer.

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That usually, if it was any other country,

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their share price would have gone up
because that effectively is telling you,

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wait a minute, that's nice.

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I take my money from South Africa, my
rands, go and convert it to the dollars,

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go and invest in the interest rates in the
US because it's going to stay higher for

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longer.

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I'm going to get more.

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bang for my buck and that's made no
difference the share price or the dollar

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index

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97.5 i mean today again i mean that is
just just showing you the confidence

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currently in the leadership in the us

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confidence in in the us itself and its
debt levels i think people taking large

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chunks of money out of the united states
so they have to take those dollars and

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sell them on the the world's markets and
that's what it's doing.

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It's not, in your opinion, then, the
anticipation of interest rates soon to

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come down.

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Goodness me, you should have heard what he
said about Powell in the NATO press

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conference.

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You'll see it later on as you watch the
highlights on television.

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He was horrible to him.

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He essentially said, I mean, he called him
low IQ.

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He called him dumb.

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He called him stupid.

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All the usual things.

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This is the chairman of the Federal
Reserve, a man he appointed.

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Come on now.

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Yeah, yeah.

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That's it.

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The Federal Reserve chair,

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the chairman of the largest reserve or
reserve bank in the world,

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central bank in the world.

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I mean, you're calling him stupid.

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Oh, man.

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Anyway, I mean, we can go on.

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I think for now, the market reacted
positively.

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When I look at some of the short-term
traders, they suddenly became massively

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upbeat.

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I saw a trade.

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I can't remember the guy.

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It was one of the big traders.

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He had an open trade where he's shorting
gold and going along the S&P 500.

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Oh, yeah?

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And, yeah.

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I don't know.

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He would have done well on shorting gold
today, but that's briefly.

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You don't agree with that trade?

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I think I'm not a short-term trader.

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You know that.

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I've been long gold for many years,

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and I'm not planning to cut that position
anytime soon.

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I mean, not what we just mentioned.

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So maybe it's somebody that's really,
really got a very, very ultra short-term

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view.

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just maybe looking at a few hours or days.

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I hope that's the case, because if they've
got a, let's call it a longer-term view, I

247
00:11:46.260 --> 00:11:48.260
don't agree with that call, not at all.

248
00:11:48.260 --> 00:11:52.534
I think the S&P 500, as it currently
stands, is grossly overvalued.

249
00:11:54.221 --> 00:11:56.096
Interest rates are going to stay higher
for longer,

250
00:11:56.112 --> 00:12:03.065
so we know that the country itself has had
a first-quarter retraction in the economic

251
00:12:03.065 --> 00:12:03.093
growth.

252
00:12:03.093 --> 00:12:04.143
We're waiting for the second quarter.

253
00:12:04.237 --> 00:12:04.937
That's going to be.

254
00:12:05.419 --> 00:12:07.582
That's going to be an actual recession.

255
00:12:07.963 --> 00:12:10.724
So we know the economy is retracting.

256
00:12:10.744 --> 00:12:16.549
We know the currency is telling us that
that's not doing too well.

257
00:12:17.689 --> 00:12:18.892
So I want to see why

258
00:12:19.596 --> 00:12:26.447
S&P 500 stays at these elevated new high
levels day after day after

259
00:12:26.478 --> 00:12:27.178
day.

260
00:12:28.416 --> 00:12:29.116
Okay.

261
00:12:29.228 --> 00:12:30.041
We know what happens.

262
00:12:30.042 --> 00:12:31.306
We know how the story ends.

263
00:12:31.385 --> 00:12:33.369
But when it starts to end.

264
00:12:33.711 --> 00:12:36.914
That's the key, and you've got to be ready
for it, Skulk.

265
00:12:37.174 --> 00:12:42.600
Just going back to Jerome Powell, he's
heading back to Capitol Hill tonight.

266
00:12:42.998 --> 00:12:45.420
He's got a second day of testimony before
Congress.

267
00:12:45.904 --> 00:12:48.967
Trump said on social media yesterday,

268
00:12:49.990 --> 00:12:55.725
he must have had his bucket of nuggets and
then just got a bit of a rush of

269
00:12:55.725 --> 00:12:57.725
artificial,

270
00:12:57.725 --> 00:13:00.084
not intelligence, of course, artificial
flavorings from those nuggets.

271
00:13:00.240 --> 00:13:02.865
And he said, he called it very dumb.

272
00:13:02.881 --> 00:13:05.544
He said, we should be at least two to
three points lower.

273
00:13:05.865 --> 00:13:12.132
What he said was today, when he was asked
a question about Jerome Powell in The

274
00:13:12.132 --> 00:13:14.132
Hague, he said,

275
00:13:14.132 --> 00:13:16.132
just cut rates.

276
00:13:16.132 --> 00:13:16.734
And if inflation goes up, then raise them
again.

277
00:13:17.320 --> 00:13:18.921
It's destabilizing, Donald.

278
00:13:18.922 --> 00:13:20.867
You can't keep on doing that, mate.

279
00:13:24.664 --> 00:13:26.242
It's got to be a long-term decision.

280
00:13:26.726 --> 00:13:30.445
And Powell said, I'm waiting to see the
effect of the tariffs.

281
00:13:30.804 --> 00:13:32.023
We haven't seen them yet.

282
00:13:32.447 --> 00:13:38.073
And as you quite correctly point out, July
the 9th means more tariffs if nothing is

283
00:13:38.073 --> 00:13:38.374
done.

284
00:13:38.432 --> 00:13:41.620
And therefore there will be effects three
months henceforward.

285
00:13:42.635 --> 00:13:43.440
Right.

286
00:13:43.455 --> 00:13:46.323
Anyway, it's going to be fun.

287
00:13:47.424 --> 00:13:53.729
I think this is what he was swearing in as
president on the 21st of January,

288
00:13:53.745 --> 00:13:54.682
if I'm not mistaken.

289
00:13:55.323 --> 00:13:58.838
Here we're sitting literally five months
later on the 25th of June.

290
00:13:59.510 --> 00:14:01.229
And it's a four-year term.

291
00:14:02.275 --> 00:14:05.660
Buckle up, baby.

292
00:14:05.661 --> 00:14:06.999
It's going to be a wild ride.

293
00:14:08.320 --> 00:14:10.242
McDonald's and Krispy Kreme have ended.

294
00:14:10.320 --> 00:14:13.663
You can't buy Krispy Kreme donuts anymore
from McDonald's.

295
00:14:13.687 --> 00:14:17.351
That shows you how much news there is
coming out of the States at the moment,

296
00:14:17.351 --> 00:14:19.351
now that

297
00:14:19.351 --> 00:14:21.968
Iran and Israel are no longer in the
headlines.

298
00:14:22.812 --> 00:14:26.296
Scout, Glee, JSC, today I saw First Run
come out with a trading update.

299
00:14:26.312 --> 00:14:27.012
That's nothing.

300
00:14:27.484 --> 00:14:31.562
But the other thing I've noticed, of
course, is Cecil's demise.

301
00:14:31.791 --> 00:14:35.034
I mean, it's still up beautifully on the
year from its low.

302
00:14:35.354 --> 00:14:37.215
Oh, no, sorry, from its lows, not on the
year.

303
00:14:37.938 --> 00:14:43.840
But it was close to 100, and it's now in
the low 80s. Volatile stock.

304
00:14:45.247 --> 00:14:50.293
Yeah, I want to say, just to prove a point
that I'm not really a short-term trader,

305
00:14:51.668 --> 00:14:53.887
I'll tell you, I'll let you in on a
secret.

306
00:14:53.918 --> 00:14:58.622
I was a media outlet last week.

307
00:14:58.825 --> 00:14:59.684
I think it was Monday.

308
00:15:00.547 --> 00:15:03.810
And I need to sort of give a stock pick.

309
00:15:04.631 --> 00:15:07.775
And I all braved up, went like, hey, it's
time.

310
00:15:07.776 --> 00:15:08.476
It's time.

311
00:15:08.732 --> 00:15:09.432
Let's go.

312
00:15:09.959 --> 00:15:10.659
Let's go.

313
00:15:10.659 --> 00:15:12.675
It's time to actually call Sasol a buy.

314
00:15:13.456 --> 00:15:17.821
Now, naturally, last week was followed by
great moves.

315
00:15:18.040 --> 00:15:24.884
And on Friday, when I was trading 102 or
103 Rand, I was high-fiving myself every

316
00:15:24.884 --> 00:15:26.884
three minutes.

317
00:15:26.884 --> 00:15:28.227
Man, this guy knows how to pick stocks.

318
00:15:28.649 --> 00:15:32.321
So Monday, I need to go on the same outlet
again.

319
00:15:32.509 --> 00:15:35.212
And I thought, now, how do you say double
up to catch up?

320
00:15:36.415 --> 00:15:38.680
This week, I decided to call Total.

321
00:15:41.995 --> 00:15:48.302
24 hours later, you've got the, what do
you call it, the ceasefire.

322
00:15:49.165 --> 00:15:55.806
And yesterday, Sasol dropped something
like 15% or 12% today, another 2%. So

323
00:15:56.509 --> 00:15:57.556
I think model the story.

324
00:15:58.228 --> 00:16:02.869
Mark often said it, my crystal ball is the
murkiest of murk at the best of days.

325
00:16:02.915 --> 00:16:09.619
But I think Sasol today closed 79.37, as I
mentioned,

326
00:16:09.665 --> 00:16:10.365
another 2% down.

327
00:16:10.497 --> 00:16:15.124
But, I mean, as mentioned, before this,
let's call it the whole

328
00:16:15.624 --> 00:16:18.104
Israel-Iran escalated,

329
00:16:18.983 --> 00:16:24.834
Cecil already started to improve on the
fact that they had this payment from

330
00:16:25.334 --> 00:16:26.709
Transnet. They settled there.

331
00:16:27.100 --> 00:16:28.928
That's going to reduce their debt.

332
00:16:29.272 --> 00:16:30.881
There's some plans with the whole

333
00:16:35.897 --> 00:16:37.709
Lake Charles, the US.

334
00:16:38.101 --> 00:16:39.162
So that's looking good.

335
00:16:39.163 --> 00:16:43.306
So everything started to look good, and
the share price really started to move.

336
00:16:44.849 --> 00:16:50.517
And currently, as we're sitting here,
we're looking at a social share price,

337
00:16:50.853 --> 00:16:55.282
which is now trading lower before the
whole Iran-Israel escalation.

338
00:16:55.313 --> 00:17:01.626
So if you liked it back then, I definitely
like it more now.

339
00:17:01.688 --> 00:17:07.454
So at $80, I do think it's trading at,
what do you call it, three times.

340
00:17:08.005 --> 00:17:12.268
forward PE multiple, it should be
increasing its dividends.

341
00:17:12.729 --> 00:17:14.511
So I'm a long-term holder.

342
00:17:14.550 --> 00:17:17.675
Let's just make it 100% clear.

343
00:17:18.057 --> 00:17:21.597
If this thing drops down to $50, I would
much probably buy some more.

344
00:17:22.698 --> 00:17:23.737
I'm not betting the farm.

345
00:17:24.245 --> 00:17:26.120
My current holding is something like $2 or
$3.

346
00:17:26.121 --> 00:17:31.604
I won't be so rude as to ask you what your
average is at the moment with Sassl in

347
00:17:31.604 --> 00:17:33.604
your portfolio.

348
00:17:33.604 --> 00:17:35.604
No, it's about 2%, 3%.

349
00:17:35.604 --> 00:17:37.604
So it's not a big bet.

350
00:17:37.604 --> 00:17:42.744
It's definitely a company that I think,
what last week has taught us with the

351
00:17:42.744 --> 00:17:44.744
likes of the Sassl,

352
00:17:44.744 --> 00:17:45.467
the ExxonMobils, the Totals, the BPs.

353
00:17:45.889 --> 00:17:52.092
What that has taught us is that it's a
fantastic hedge against a further

354
00:17:52.092 --> 00:17:54.092
escalation,

355
00:17:54.092 --> 00:17:56.092
geopolitical escalation.

356
00:17:56.092 --> 00:17:56.123
So maybe just something to have a look at.

357
00:17:57.045 --> 00:17:59.717
Sassl is, we will keep a close eye on that
in coming weeks.

358
00:18:00.045 --> 00:18:03.498
Okay, let's have a look at some of the
pertinent prices.

359
00:18:03.741 --> 00:18:06.681
The dollar-rand is 1779.

360
00:18:06.682 --> 00:18:10.243
The euro-rand is 2068.

361
00:18:10.322 --> 00:18:14.064
And the British pound against the round is
2423.

362
00:18:14.079 --> 00:18:16.165
Euro-dollar, 116.25.

363
00:18:16.345 --> 00:18:19.564
When a currency goes on a move, it doesn't
stop.

364
00:18:20.072 --> 00:18:24.322
This could be two years in the making,
this dollar bear market.

365
00:18:24.681 --> 00:18:25.384
It will just go.

366
00:18:26.150 --> 00:18:27.150
Difficult to stop it.

367
00:18:27.243 --> 00:18:27.993
It's in a trend.

368
00:18:27.994 --> 00:18:30.087
116.25.

369
00:18:30.103 --> 00:18:32.134
People were talking about par with the
euro.

370
00:18:32.540 --> 00:18:33.322
Not that long.

371
00:18:33.709 --> 00:18:34.409
ago.

372
00:18:34.769 --> 00:18:36.909
British Pound, 136.20.

373
00:18:36.910 --> 00:18:37.610
Look at that.

374
00:18:37.610 --> 00:18:43.155
That was below 120 at one stage in the
last year anyway.

375
00:18:43.413 --> 00:18:45.671
Commodities, gold price having a breather
down

376
00:18:46.811 --> 00:18:50.475
$47 on my screen to 33.24.

377
00:18:50.476 --> 00:18:55.475
The platinum price, 13.11, which is up
around about $5.

378
00:18:55.553 --> 00:18:58.272
Palladium down $12 or 1.1%.

379
00:18:58.350 --> 00:19:01.069
All right, the all-important crude oil
that we've been talking about.

380
00:19:01.457 --> 00:19:03.098
I just looked at a graph this morning.

381
00:19:03.258 --> 00:19:06.199
In early May, it was $60 a barrel.

382
00:19:06.219 --> 00:19:07.019
That's Brent crude.

383
00:19:07.316 --> 00:19:09.457
Went close to $80 a barrel recently.

384
00:19:09.559 --> 00:19:10.480
That's a big move.

385
00:19:10.496 --> 00:19:13.019
That's what's a third.

386
00:19:13.457 --> 00:19:20.363
It went up a third in less than two months
and then came crashing down as soon as the

387
00:19:20.848 --> 00:19:22.098
ceasefire became apparent.

388
00:19:22.441 --> 00:19:27.941
Current price, $67.85, which on the day is
actually up just over

389
00:19:28.566 --> 00:19:30.707
1%. Natural gas prices are...

390
00:19:31.005 --> 00:19:37.890
flat uh bitcoin it was below 100 uh two
days ago it's now 107

391
00:19:37.891 --> 00:19:44.757
and 173 another reason why trump is so so
happy he loves his crypto and we

392
00:19:44.781 --> 00:19:48.679
know why the south african 10-year bond
yield very very good news for the country

393
00:19:49.070 --> 00:19:52.164
9.92 percent and the u.s

394
00:19:52.523 --> 00:19:59.070
10-year i think it's about seven week low
was around about 427 428 now 4.31 percent

395
00:19:59.070 --> 00:20:01.070
ahead of

396
00:20:01.070 --> 00:20:05.475
powell giving his speech and yeah s&p 500
futures they're flat

397
00:20:05.674 --> 00:20:12.440
6146 for the september futures so that's
that what shares caught your eye today on

398
00:20:12.440 --> 00:20:14.440
the jc up and

399
00:20:14.440 --> 00:20:18.570
down please skulk Yeah, I think I'm going
to go sector specific because it's sort of

400
00:20:18.570 --> 00:20:20.570
an inverse.

401
00:20:20.570 --> 00:20:20.875
It was an inverse of what we've seen
yesterday.

402
00:20:20.914 --> 00:20:23.961
Yesterday, we had this massive, massive
retracement.

403
00:20:24.320 --> 00:20:25.641
And it was close to a 3%

404
00:20:27.117 --> 00:20:32.180
rise in financial stocks because we had
this massive movement in the RAND.

405
00:20:32.258 --> 00:20:34.961
RAND improved as well as dollar weakness.

406
00:20:34.962 --> 00:20:36.945
So that was good for financials.

407
00:20:37.805 --> 00:20:42.414
And the flip side was our resources got
hammered with some of these...

408
00:20:44.361 --> 00:20:45.621
commodity prices retracing.

409
00:20:46.002 --> 00:20:52.926
Today, I don't want to say it was the
inverse because, I mean, the resource

410
00:20:52.926 --> 00:20:54.926
index only recovered,

411
00:20:54.926 --> 00:20:56.926
let's call it five basis points.

412
00:20:56.926 --> 00:20:58.926
That's not really a recovery.

413
00:20:58.926 --> 00:21:00.824
But the financial index, they took a
beating today, close to 1.5%

414
00:21:00.934 --> 00:21:03.934
down today with the likes of some of these
banks.

415
00:21:03.996 --> 00:21:05.418
Standard Bank down 3%.

416
00:21:06.715 --> 00:21:08.090
First Rand, that was positive.

417
00:21:08.184 --> 00:21:09.684
Other trading, Updata.

418
00:21:09.762 --> 00:21:11.981
APSA was down 2.2%. So.

419
00:21:12.572 --> 00:21:17.898
I thought it was an interesting day for
the bank, sort of inverse of what we've

420
00:21:17.898 --> 00:21:17.918
seen yesterday.

421
00:21:18.199 --> 00:21:19.359
And then the PGMs.

422
00:21:19.398 --> 00:21:23.882
I mean, PGMs were still fairly strong this
morning, as you mentioned.

423
00:21:24.203 --> 00:21:29.328
Prices are still trading higher now, but
you can see the last few hours there was a

424
00:21:29.328 --> 00:21:31.328
bit of a retracement.

425
00:21:31.328 --> 00:21:32.390
The likes of the Volterra is down 3.1%.

426
00:21:32.406 --> 00:21:37.703
Impala, Platinum, down 1.5%. So, as
mentioned,

427
00:21:39.218 --> 00:21:40.796
just a funny, funny day all around.

428
00:21:40.859 --> 00:21:41.874
Big movements.

429
00:21:43.025 --> 00:21:49.573
and definitely moving in in these
directions yeah valterra as you say down

430
00:21:49.573 --> 00:21:51.573
over three percent and that was after a
mining max

431
00:21:51.573 --> 00:21:56.620
article where the ceo said he thought the
prospects for the platinum price and other

432
00:21:56.620 --> 00:21:58.620
platinum group metals was

433
00:21:58.620 --> 00:22:02.057
uh pretty good sorry i wasn't listening i
was listening but i was doing something

434
00:22:02.057 --> 00:22:04.057
else that should

435
00:22:04.057 --> 00:22:05.573
become apparent in the moment i i i hang

436
00:22:05.588 --> 00:22:12.576
on your every word uh scott believe me i
can repeat it you have 10 minutes Netcore

437
00:22:12.576 --> 00:22:14.576
down 6.5.

438
00:22:14.576 --> 00:22:16.576
What is that?

439
00:22:16.576 --> 00:22:18.576
Next story?

440
00:22:18.576 --> 00:22:20.576
Why is Netcore down 6.5?

441
00:22:20.576 --> 00:22:22.576
I actually came out with results.

442
00:22:22.576 --> 00:22:24.576
Oh, I see.

443
00:22:24.576 --> 00:22:26.576
Yeah, yeah.

444
00:22:26.576 --> 00:22:28.576
Netbank was the only company that actually
it's sort of always interesting because I

445
00:22:28.576 --> 00:22:30.576
looked at the results this morning and I
was like,

446
00:22:30.576 --> 00:22:32.576
well, did it look too bad?

447
00:22:32.576 --> 00:22:34.722
But it's always interesting when a company
bring out results just as the market

448
00:22:34.722 --> 00:22:34.765
closed.

449
00:22:34.765 --> 00:22:35.675
You need to go and look.

450
00:22:36.784 --> 00:22:38.206
Oh, you mean it was last night?

451
00:22:38.347 --> 00:22:39.047
Okay.

452
00:22:39.206 --> 00:22:39.906
Yeah, yeah.

453
00:22:40.008 --> 00:22:46.955
between the lines but again i don't think
it's uh it's expensive it didn't look uh

454
00:22:46.955 --> 00:22:48.955
too bad but uh yeah

455
00:22:48.955 --> 00:22:53.780
mr market thought otherwise they didn't
like it didn't like the results at all

456
00:22:53.780 --> 00:22:55.780
okay on the upside we've

457
00:22:55.780 --> 00:23:00.553
got a disc up 2.1 and the founder and ceo
of diskim just

458
00:23:00.569 --> 00:23:06.678
thought you know why not give my two sons
a nice little media present 6.8 billion

459
00:23:07.064 --> 00:23:13.852
25 stake in the company which is i don't
know what the the reason for that is

460
00:23:13.852 --> 00:23:15.852
whether it's for tax reasons

461
00:23:15.852 --> 00:23:20.215
or whether he wants them to take over his
position joint ceos or something i don't

462
00:23:20.215 --> 00:23:22.215
know no no they're not

463
00:23:22.215 --> 00:23:26.723
involved that's a nice nice nice so he's
got three sons so so the one son sold he's

464
00:23:26.723 --> 00:23:28.723
he's

465
00:23:28.723 --> 00:23:32.488
already involved so he's got his shares
and his is is is on the board yeah um

466
00:23:32.832 --> 00:23:35.535
But these two sons, they're not...

467
00:23:36.728 --> 00:23:37.869
on the board yet.

468
00:23:38.390 --> 00:23:44.517
And actually, now they will need to be
looked at because I think it's like

469
00:23:44.517 --> 00:23:46.517
something at 25%.

470
00:23:46.517 --> 00:23:47.255
Yeah, it's close to 25%

471
00:23:48.138 --> 00:23:51.982
Sheldon that's now been split up between
these two brothers.

472
00:23:52.943 --> 00:23:54.130
So that's a chunky.

473
00:23:54.224 --> 00:23:57.427
I mean, yeah, I need to go and speak to my
dad.

474
00:23:57.443 --> 00:23:58.443
I need to get in.

475
00:23:58.537 --> 00:24:00.318
Yeah, for goodness sake, it's about time.

476
00:24:00.630 --> 00:24:01.330
Come on now.

477
00:24:01.330 --> 00:24:01.987
Definitely.

478
00:24:01.987 --> 00:24:04.474
Do you have to do these stupid podcasts
every week?

479
00:24:05.099 --> 00:24:06.021
I mean, come on.

480
00:24:07.465 --> 00:24:08.285
Lindsay, I love you.

481
00:24:08.326 --> 00:24:09.026
Go on, man.

482
00:24:09.026 --> 00:24:11.510
What can people do on a Wednesday, you
know, 5 o'clock?

483
00:24:11.811 --> 00:24:12.932
Do you want me to give you a list?

484
00:24:13.412 --> 00:24:14.151
Having a chat.

485
00:24:14.674 --> 00:24:17.158
Belcom was up 2%, Advertik up 2%,

486
00:24:19.299 --> 00:24:21.916
Lighthouse Capital up 1.5%.

487
00:24:22.221 --> 00:24:27.471
So nothing apart from discounting me of
any interest.

488
00:24:27.502 --> 00:24:28.202
Okay, Skalk.

489
00:24:28.202 --> 00:24:29.330
So what are we expecting?

490
00:24:29.361 --> 00:24:33.908
The market to take a breather, a shock to
come from the Middle East, a shock to come

491
00:24:33.908 --> 00:24:35.908
from the tariffs.

492
00:24:35.908 --> 00:24:37.003
What are we going to be talking about next
week, do you suppose?

493
00:24:38.787 --> 00:24:40.126
It could be all of the above.

494
00:24:40.626 --> 00:24:42.591
It could be all new news.

495
00:24:43.005 --> 00:24:46.372
You know, what we say in Afrikaans,
splinternevenmulukat,

496
00:24:46.388 --> 00:24:50.232
which is translated to brand new trouble.

497
00:24:51.076 --> 00:24:52.013
Brand new trouble.

498
00:24:52.044 --> 00:24:53.654
Well, I hope not.

499
00:24:53.685 --> 00:24:57.747
It's always fun as a broadcaster to talk
about bad news, but I really hope not.

500
00:24:58.779 --> 00:24:59.841
We need to talk about good news.

501
00:24:59.982 --> 00:25:00.682
Yeah, exactly.

502
00:25:01.185 --> 00:25:02.513
Okay, well done, Scott.

503
00:25:02.716 --> 00:25:09.468
find yourself something to do i noticed
that the nights are getting longer the

504
00:25:09.468 --> 00:25:11.468
days are getting longer in the southern
hemisphere the opposite over here

505
00:25:11.468 --> 00:25:16.823
and so go and spend that extra couple of
minutes and and do something productive

506
00:25:16.823 --> 00:25:18.823
sculpt glow is a portfolio manager psg
wealth

507
00:25:18.823 --> 00:25:19.308
old oak in cape town and that was the five
o'clock shadow

508
00:25:19.892 --> 00:25:26.834
The views and opinions expressed in these
podcasts are those of Lindsay Williams and

509
00:25:26.834 --> 00:25:28.834
various contributors and do not reflect
the policy,

510
00:25:28.834 --> 00:25:30.572
position or opinion of any other agency,
organisation,

511
00:25:30.893 --> 00:25:35.533
employer or company associated with
StrictlyBusinessPodcast.com.

512
00:25:36.002 --> 00:25:42.971
Assumptions made on the analyses are not
reflective of the position of any other

513
00:25:42.971 --> 00:25:44.971
entity other than the speaker or the
author.

514
00:25:44.971 --> 00:25:49.424
And since we are critically thinking human
beings, these views are always subject to

515
00:25:49.424 --> 00:25:51.424
change, revision, and revision.

516
00:25:51.424 --> 00:25:53.424
and rethinking at any time.

517
00:25:53.424 --> 00:25:54.018
Please do not hold us to them in
perpetuity.