Ghost Stories

The Finance Ghost
  • 0,0 (0)
  • Geldanlage

Ghost Stories is a long-form podcast that gives me the opportunity to have deeper conversations with founders, executives and market participants who have a great story to tell.

  1. Ghost Stories #102: A market holding its breath

    20. Mai

    Ghost Stories #102: A market holding its breath

    In this episode of Ghost Stories, I was joined by Satrix’s Nico Katzke to unpack a global market that feels eerily calm in the face of rising risk. From Middle East tensions and the growing threat of energy disruption to the curious resilience of equity markets, the conversation explores whether investors are underpricing just how fragile the current environment really is. With oil prices climbing and inflation risks creeping back into the narrative, this episode digs into what it all means for portfolios. From the outlook for South African equities and resources to the surprising strength in US earnings, there's much to discuss. Along the way, we tackled ETFs, market complacency, and whether concepts like “bubbles” even matter in a world being rapidly reshaped by AI and shifting global power dynamics. In this episode: Why oil prices and the Strait of Hormuz matter more than ever The risk of market complacency in the face of geopolitical tension How energy shocks could drive inflation and hit consumers Why SA resources have surged - and whether it can continue The resilience (and risks) within US equity markets Stagflation risk and the long-term outlook for the dollar How ETFs can help navigate uncertain markets Why “bubbles” might actually be part of progress in innovation Disclaimer: Satrix Managers (RF) (Pty) Ltd is a registered and approved Manager in Collective Investment Schemes in Securities. Collective investment schemes are generally medium- to long-term investments. With Unit Trusts, Exchange Traded Funds (ETFs) and Actively Managed ETFs (AMETFs), the investor essentially owns a “proportionate share” (in proportion to the participatory interest held in the fund) of the underlying investments held by the fund. With Unit Trusts, the investor holds participatory units issued by the fund while in the case of ETFs and AMETFs, the participatory interest, while issued by the fund, comprises a listed security traded on the stock exchange. ETFs and AMETFs are registered as a Collective Investment and can be traded by any stockbroker on the stock exchange, LISP platforms and / or via online trading platforms. ETFs and AMETFs may incur additional costs due to being listed on the JSE. Past performance is not necessarily a guide to future performance, and the value of investments / units may go up or down. A schedule of fees and charges, and maximum commissions is available on the Minimum Disclosure Document or upon request from the Manager. Collective investments are traded at ruling prices and can engage in borrowing and scrip lending. Should the respective portfolio engage in scrip lending, the utility percentage and related counterparties can be viewed on the ETF and AMETF Minimum Disclosure Document. AMETFs are ETFs are actively traded by a Portfolio Manager to adjust the AMETF holdings and asset allocation with the aim to outperform the benchmark. AMETFs differ from ETFs which only track indices. The Manager does not provide any guarantee, either with respect to the capital or the return of a portfolio. The index, the applicable tracking error and the portfolio performance relative to the index can be viewed on the ETF and AMETF Minimum Disclosure Document and/or on https://satrix.co.za/products.

    26 Min.
  2. Ghost Stories #101: Under the hood - the data edge at WeBuyCars

    20. Mai

    Ghost Stories #101: Under the hood - the data edge at WeBuyCars

    In this episode of Ghost Stories, The Finance Ghost goes beyond the headline numbers and gets under the hood of WeBuyCars with Deputy CEO Wynand Beukes and CFO Chris Rein. Instead of rehashing the latest earnings, the conversation focuses on what really matters: how the business is adapting to a rapidly shifting automotive market, from the rise of Chinese brands to increasing pressure on pricing and margins. At the heart of it all is data. From Bayesian pricing models to proprietary software and AI-driven decision-making, WeBuyCars is building a competitive edge that goes far beyond scale. This episode explores how the company uses data to manage risk, optimise inventory, and keep turning stock in a deflationary market - and why getting the buying decision right is everything. This podcast deals with topics like: What “percentile-based buying” actually means in practice The impact of Chinese vehicle entrants on pricing and margins Why the "up to R250k" segment is strategically critical and the competitive realities at higher price points How WeBuyCars uses data and machine learning to price risk The “empty bay problem” and why growth requires bold decisions Inventory risk, margin pressure and managing a deflationary market Why WeBuyCars sees itself as a technology business at heart Important disclosure: The Finance Ghost has a shareholding in WeBuyCars. WeBuyCars believes strongly in the value of Ghost Mail in the South African investment ecosystem. They have sponsored this podcast for readers, but The Finance Ghost was allowed to ask whatever he wanted to ask. Please do your own research and do not treat this podcast as an endorsement of WeBuyCars as an investment.

    32 Min.
  3. Ghost Stories #100: Mining through the cycle - Sibanye-Stillwater's strategy

    11. Mai

    Ghost Stories #100: Mining through the cycle - Sibanye-Stillwater's strategy

    Sibanye-Stillwater CEO Richard Stewart has stepped into the top job at a time when the company is printing money in its gold and PGM operations. But success during the favourable times in the cycle is driven by what a mining company does through the cycle. From cost control measures through to strategic commodity investments, there are many strategies that Sibanye-Stillwater uses to create long-term shareholder value. In this excellent discussion, Richard gives us deeper insights into the operating environment and how the group positions itself over time. This podcast deals with topics like: The reality behind Sibanye’s surge in EBITDA How the gold and PGM portfolios are structured (and why it matters) Synergies from consolidation and the economics of contiguous mining assets The shift from deep-level to shallow gold operations and what it means for margins Cost management, AISC, and building resilience through the cycle Mechanisation strategy in the US and its impact on productivity and costs Section 45X credits and the geopolitics of critical minerals South Africa’s “green shoots” vs persistent structural challenges Sibanye’s lithium strategy and positioning in EV supply chains The growing importance of recycling as a stabiliser in volatile markets Oil price impacts: what matters, what doesn’t, and what to watch The one factor that keeps the CEO up at night (hint: it’s not commodity prices) Sibanye-Stillwater believes strongly in the value of Ghost Mail in the South African investment ecosystem. They have sponsored this podcast for readers, but I was allowed to ask whatever I wanted to ask. Please do your own research and do not treat this podcast as an endorsement of Sibanye-Stillwater as an investment.

    42 Min.
  4. Ghost Stories #99: Unleashing independent retail - the foundation of SPAR's turnaround

    31. März

    Ghost Stories #99: Unleashing independent retail - the foundation of SPAR's turnaround

    Reeza Isaacs is the newly appointed CEO of SPAR. As hot seats go, this one is warmer than a freshly-baked bread at your local store. With plenty of experience in difficult retail settings, Isaacs is excited for the challenge. He believes strongly in the independent retail model that forms the underpin of the SPAR wholesale business. Through a focused strategy on Ireland and South Africa, SPAR is committed to getting the basics right and demonstrating the benefits of independent retail. This podcast deals with topics like: Management stability and long‑term commitment at SPAR. Lessons from offshore activities and why Ireland is different. The strengths and trade-offs of SPAR's wholesale and independent retailer model. SAP implementation failures and risk mitigation strategies. Rebuilding retailer trust and loyalty, especially in KZN. Online, on‑demand retail, and SPAR’s pragmatic participation strategy. Margin recovery initiatives and operational self‑help levers. Growth adjacencies, including pharmacy, pet care, and private label. SPAR believes strongly in the value of Ghost Mail in the South African investment ecosystem. They have sponsored this podcast for readers, but I was allowed to ask whatever I wanted to ask. Please do your own research and do not treat this podcast as an endorsement of SPAR as an investment.

    29 Min.
  5. Ghost Stories #98: Fixed income investing - how to move beyond cash in a balanced portfolio

    24. März

    Ghost Stories #98: Fixed income investing - how to move beyond cash in a balanced portfolio

    In this episode of Ghost Stories, we get stuck into the world of fixed income - a space that retail investors often overlook in favour of equities. Yusuf Wadee of Satrix concurs with The Finance Ghost's cricket analogy: fixed income returns act as the singles that keep the scoreboard ticking over. But that doesn't mean that investors should default to low-yield cash accounts. Veteran fixed-income portfolio manager James Turp from Ninety One explains how his funds aim to optimise returns in the sweet spot between cash and bonds. And now, with the launch of the Satrix Income Actively Managed ETF (AMETF), investors have an easy way to access this expertise. Topics covered in this podcast: How a balanced approach to equities and fixed income helps build an innings Diversification, volatility, and survivorship bias How most investors fall into “lazy cash” traps The structure and purpose of the Satrix Income AMETF How the partnership between Satrix and Ninety One works How James constructs an active fixed‑income portfolio Duration, interest‑rate cycles, and inflation dynamics Liquidity and accessibility of an actively managed ETF Tax‑free savings considerations for fixed‑income ETFs Keen to learn more? Check out the Satrix Income AMETF (JSE: STXINC) here. Please remember that nothing you hear on Ghost Stories should be treated as advice. You must always speak to your personal financial advisor. Satrix Managers (RF) (Pty) Ltd a registered and approved Manager in Collective Investment Schemes in Securities. Collective investment schemes are generally medium- to long-term investments. With Unit Trusts, Exchange Traded Funds (ETFs) and Actively managed ETFs (AMETFs) the investor essentially owns a “proportionate share” (in proportion to the participatory interest held in the fund) of the underlying investments held by the fund. With Unit Trusts, the investor holds participatory units issued by the fund while in the case of an ETFs and AMETFs, the participatory interest, while issued by the fund, comprises a listed security traded on the stock exchange. ETFs and AMETF are registered as a Collective Investment and can be traded by any stockbroker on the stock exchange, LISP platforms and or via online trading platforms. ETFs and AMETFs may incur additional costs due to it being listed on the JSE. Past performance is not necessarily a guide to future performance, and the value of investments / units may go up or down. A schedule of fees and charges, and maximum commissions are available on the Minimum Disclosure Document or upon request from the Manager. Collective investments are traded at ruling prices and can engage in borrowing and scrip lending. Should the respective portfolio engage in scrip lending, the utility percentage and related counterparties can be viewed on the ETF and AMETF Minimum Disclosure Document. The index, the applicable tracking error and the portfolio performance relative to the index can be viewed on the ETF and AMETF Minimum Disclosure Document. International investments or investments in foreign securities could be accompanied by additional risks such as potential constraints on liquidity and repatriation of funds, macroeconomic risk, political risk, foreign exchange risk, tax risk, settlement risk as well as potential limitations on the availability of market information. AMETF are ETFs which are actively traded by a Portfolio Manager to adjust the AMETF holdings and asset allocation with the aim to outperform the benchmark. AMETF differ from ETFs which only track indices. The Manag...

    34 Min.
  6. Ghost Stories #97: From mechanical work to judgement in portfolio management - reallocating human effort with AI

    23. März

    Ghost Stories #97: From mechanical work to judgement in portfolio management - reallocating human effort with AI

    At Forvis Mazars in South Africa, the team is actively working on AI-driven solutions for clients. Shane Cooper (Head of Digital Advisory) is spearheading this effort, with one of the applications of this technology being in the portfolio management space. Institutional investors with complex structures face multiple challenges in managing their investments. As Shane explains in this podcast, it's an operating model problem rather than a software problem - but AI can help. Rishi Juta (Director of Corporate Finance) joined this discussion to deliver insight into real-world applications across due diligence and risk management. It's all about transforming unstructured data and commentary into useful information for decision-making. This is an excellent introduction to the technology that Forvis Mazars in South Africa is developing for institutional clients. Topics covered in this podcast: The shift from mechanical work to judgement work - and why it changes the entire process of portfolio oversight. Why unstructured data (like management commentary and board‑pack narratives) often tells you more than the numbers. How “intelligent ingestion” lets AI chew through PDFs, emails, scans, and commentary like a grown‑up sorting out a toddler’s plate of vegetables. Early‑warning risk signals across a portfolio: covenant pressure, reporting behaviour, management tone, governance drift, sector stress and more. How this tech is being built specifically for regulated environments - IFRS, GRAP, scenario planning, traceability, explainability and all the governance that institutions actually need. Why large‑scale portfolios guarantee that humans will miss something - and how an AI layer can stop the rot early, while still taking advantage of having a human in the loop. If you would like to learn more about this technology, connect with Shane Cooper or Rishi Juta on LinkedIn. For more information on AI-specific applications, you'll find Shane's contact details on the Forvis Mazars website.

    28 Min.
  7. Ghost Stories #96: Public and private markets - ETFs help bridge the gap

    11. März

    Ghost Stories #96: Public and private markets - ETFs help bridge the gap

    Private markets are playing a growing role in global investing. Private equity, private credit, infrastructure and private property investments are a significant part of economic activity. And with more companies remaining private for longer, investors will need to look deeper for the opportunities of tomorrow. These markets come with challenges related to daily price discovery, liquidity and due diligence. Although ETFs cannot solve these issues, they can act as a liqudity sleeve in situations where committed institutional capital can be invested in a liquid ETF until the private market manager calls the capital. The benefits of this approach include reduced cash drag, efficient cost management in transactions and more certainty over cash deployment for the parties to a transaction. Duma Mxenge, Head of Business & Market Development at Satrix, joined me on this podcast to explain exactly how this works. This discussion is aimed at institutional investors and professionals who are active in private markets. This podcast was first published here.  Disclaimer: Satrix Investments (Pty) Ltd & Satrix Managers (RF) (Pty) Ltd is an authorised financial services provider. The information does not constitute advice as contemplated in FAIS. Use or rely on this information at your own risk. Consult your Financial Adviser before making an investment decision. While every effort has been made to ensure the reasonableness and accuracy of the information contained in this document (“the information”), the FSP’s, its shareholders, subsidiaries, clients, agents, officers and employees do not make any representations or warranties regarding the accuracy or suitability of the information and shall not be held responsible and disclaims all liability for any loss, liability and damage whatsoever suffered as a result of or which may be attributable, directly or indirectly, to any use of or reliance upon the information. For more information, visit https://satrix.co.za/products

    25 Min.
  8. Ghost Stories #95: Reeling in returns: Sea Harvest's best-ever performance

    6. März

    Ghost Stories #95: Reeling in returns: Sea Harvest's best-ever performance

    The ocean is a mystical place that has captured our imagination as a species for as long as anyone can remember. And although there are many fish in the sea, unlocking that resource in a sustainable and profitable way really isn’t that simple. Sea Harvest has signed off on an incredible year that demonstrates the depth of the strategy - quite literally. The way they think about the various seafood products is fascinating, as explained by CEO Felix Ratheb on this podcast. With operating margin more than doubling in 2025 and headline earnings coming in 4.2x higher than the prior year, this income statement has plenty of operating leverage. This adds to the intrigue around the business model and how the group is managed, with those insights delivered by CFO Muhammad Brey in this discussion. Get ready to learn from Felix and Muhammad on this excellent podcast. The passion for the ocean comes through just as clearly as the numbers. This podcast deals with topics like: The importance of hake to Sea Harvest's business Diversification beyond hake - and beyond South Africa's waters as well Why the Ladismith Cheese disposal makes strategic sense Key features of the business model that lead to such high operating leverage The approach taken to managing financial risks like fuel costs and forex movements Sustainable fishing and how Sea Harvest interacts with the precious resources in our oceans The financial outlook for the group, recognising the cyclicality in the model Sea Harvest believes strongly in the value of Ghost Mail in the South African investment ecosystem. They have sponsored this podcast for readers, but I was allowed to ask whatever I wanted to ask. Please do your own research and do not treat this podcast as an endorsement of Sea Harvest as an investment.

    50 Min.
Alle anzeigen (25)

Info

Ghost Stories is a long-form podcast that gives me the opportunity to have deeper conversations with founders, executives and market participants who have a great story to tell.

Informationen

  • Erstellt von
    The Finance Ghost
  • Jahre aktiv
    2022 - 2026
  • Folgen
    25
  • Bewertung
    Unbedenklich
  • Copyright
    © 2022
  • Sendungswebsite
    Ghost Stories

Das gefällt dir vielleicht auch