🌠Worldwide Markets Ep. 646 – 3 September 2025

ðŸŽ™ï¸ Hosted by Simon Brown

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📈 Key Topics This Week

🌠Emerging Markets: 20 Years of Poor Returns

EM ETFs have underperformed vs. the US and gold

20-year CAGR:

📊 NASDAQ: +1,400% (14.5% CAGR)

🟡 Gold: +700% (10.9% CAGR)

🇺🇸 S&P 500: +440% (8.7% CAGR)

🌠Emerging Markets: +193% (5.5% CAGR)

BRIC dream (Brazil, Russia, India, China) never delivered 💭

Headwinds: financial crises, currency depreciation 💸, weaker governance 📉

🟡 Gold & ⚪ Silver Running

Gold futures hit $3,560/oz 🚀

Central banks now hold more gold than US Treasuries

Silver back above $40, near 2011 highs

Stagflation worries (low growth, high inflation, debt) → gold demand surges

Gold weekly chart | 02 September 2025

🛒 Shoprite* Results & 60/60 Growth

Checkers 60/60 delivered R18.9bn revenue ðŸŽðŸ“¦

That’s nearly 20% of Checkers’ sales & close to Pick n Pay’s market cap

Strong results, inflation at just 2.3% ✅

Stock price up ~5%

🚗 Record August Vehicle Sales

51,880 units sold, highest since Oct 2019

Brands leading:

🚙 Toyota (13k+)

🚗 Suzuki (~6.5k)

🇨🇳 Rising share from Chinese brands (GWM, Chery, JAC)

Trend: consumers keeping cars longer, turning to cheaper imports ðŸ·ï¸

🧪 ASP Isotopes JSE Listing

Listed ahead of Renergen* takeover

Local pricing looks wildly inflated at R1,100 vs. realistic ~R165 📉

Very thin volumes; caution urged âš ï¸

🌠Geopolitics: New World Order

India 🤠Russia 🤠China meeting – cooperation on energy, fertilizers, space & security

Growing shift away from USD towards RMB in oil settlement

US power not gone yet, but cracks in global dominance showing ðŸ›ï¸

🔑 Takeaways

EM equities have disappointed; US tech dominance continues 💻

Gold remains a hedge in uncertain times 🟡

Shoprite Sixty60 is now a R20bn business 🚚

Car sales at record highs, boosted by affordable Chinese brands 🚘

Watch out for weird valuations in new listings 👀

Geopolitics shifting – 2025 could be a turning point ðŸŒ

📌 Next week’s episode will be late – Simon’s at LeaderX on Tuesday. Come say hi if you’re there! 🙌

Simon Brown

* I hold ungeared positions.

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