Ghost Stories

The Finance Ghost
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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 #93: Budget Speech 2026 - a pivot to stability

    15 H FA

    Ghost Stories #93: Budget Speech 2026 - a pivot to stability

    South Africa’s 2026 Budget Speech announced a mix of bold, interesting and ultimately positive changes - especially for small businesses and South African investors. With pro-business policies that signal economic stability, could this be a turning point for the country? Described affectionately by Tertius Troost (Associate Director - Tax Consulting at Forvis Mazars) as a "boring" budget, this is the first time in years that we've seen any kind of tax relief for South Africa's middle class. In his words, it's a pivot to stability - and at a time when things are really looking up for South Africa. He joined me on this podcast to break down the budget basics and to specifically comment on areas like: How the budget addresses "bracket creep" by adjusting personal income tax brackets for inflation.  The increase in the VAT registration threshold and how this assists small businesses. A boost for investors in the form of a higher annual limit for Tax-Free Savings Accounts (TFSA). The approach taken to online gambling and whether education and regulation should precede taxes. Other changes aimed at helping South Africans with retirements savings and even global investments. You can connect with Tertius on LinkedIn here. As always, please discuss the impact of the tax changes on your affairs with your personal financial advisor. Nothing you hear on this podcast should be interpreted as advice.

    26 min
  2. Ghost Stories #92: Balancing global portfolios with Europe and Japan ETFs

    10 FEB

    Ghost Stories #92: Balancing global portfolios with Europe and Japan ETFs

    The team at Satrix has clearly been busy. They've launched two brand new ETFs to help South Africans tweak their exposure to offshore markets. If you're ready to learn more about Europe and Japan, then you're in the right place. Why does it matter? For most South African investors, offshore exposure is really just a proxy for US tech names. It's hard to avoid this outcome, as Big Tech has been the driving force of most global indices, let alone US indices. The Magnificent Seven are everywhere. Well, almost everywhere. Diversification across both sectors and regions is important for investors. In that spirit, Satrix has launched the Satrix Stoxx Europe 600 ETF and the Satrix MSCI Japan ETF. Siyabulela Nomoyi of Satrix joined me to unpack these offerings. This included discussions on: The macro trends in each region and how they have such different top-of-mind items at the moment The nature of the underlying indices tracked by these ETFs and how they vary in terms of market depth and sector exposures The investment thesis for each regions and what the drivers of returns will likely be over time How both products should be seen as complementary to the global picture If your portfolio is a Lego structure, Satrix has just given you two new pieces. 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

    36 min
  3. Ghost Stories #91: Building sonar for navigating private credit

    9 FEB

    Ghost Stories #91: Building sonar for navigating private credit

    Ian Norden, CEO of Intengo Market, returns to Ghost Stories to talk about the sector of the market that he is passionate about: listed and private credit. Corporate credit (or "debt" from the company perspective) is a key source of funding for companies and can drive higher returns for equity investors if used properly. For investors in these credit instruments, optimising yield and risk are key.  But as we observe a world of shrinking public issuance and growing demand for yield, will private credit be able to address this imbalance and fill the gap? Intengo sits at the coalface of this industry, building the data and workflow systems that allow private credit markets to scale responsibly, transparently and efficiently. They are playing the crucial role of building sonar in a market where you'll find private credit sitting below the surface.  Key themes covered: Private credit vs listed credit — and why the distinction matters Why credit markets are buy-and-hold by design Supply–demand imbalances in South African debt markets The rise of hedge funds and alternative assets Data, complexity, and the future of private credit infrastructure What private credit growth signals about economic growth

    31 min
  4. Ghost Stories #90: Beyond bricks and mortar, a global property ETF made for South African investors

    15 GEN

    Ghost Stories #90: Beyond bricks and mortar, a global property ETF made for South African investors

    The first Ghost Stories podcast in 2026 opens the door to global property investments with Satrix. In this lively and insightful discussion with Lauren Jacobs, Senior Portfolio Manager at Satrix, you'll learn about how Satrix is broadening the range of property investment opportunities for investors. Aside from a discussion on the various property strategies followed by investors (ranging from buy-to-let through to owning REITs and associated ETFs), this podcast gives you details on the existing suite of property ETFs and unit trusts offered by Satrix. This includes the Satrix Property ETF (JSE: STXPRO) that Ghost loves owning in his tax-free savings account. And of course, there was much focus placed on the new ETF in the stable: the Satrix Global Property ETF (JSE: STXGLP). With rand-denominated exposure to offshore property, this ETF brings property asset classes that you won't find anywhere else on the JSE (like senior housing and data centre funds). Get ready to learn about how to broaden and diversify your equity exposure in property.  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

    35 min
  5. Ghost Stories #89: 25 years of Satrix - how indexation changed investing in South Africa

    19/12/2025

    Ghost Stories #89: 25 years of Satrix - how indexation changed investing in South Africa

    In the year 2000, a lot happened. There was some questionable pop music. There was also the Dot-Com Crisis, followed by a period that saw incredible equity returns in South Africa until the Global Financial Crisis hit in 2007/2008. And during that important period in our local market, we also saw the emergence and initial growth of ETFs in South Africa, spearheaded by Satrix. To reflect on 25 years of ETFs in South Africa, René Basson joined me to share the important milestones and fascinating stories that defined this journey. In doing so, it became clear just how much has changed in South Africa to make investing accessible to everyone. Join us as we look back on how Satrix made it possible for everyone to own the market. 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
  6. Ghost Stories #88: Cell C - more than just an MVNO engine

    11/12/2025

    Ghost Stories #88: Cell C - more than just an MVNO engine

    Cell C has been on quite the adventure in its efforts to carve out a sustainable competitive position. The telcos space can be brutal, with historically high levels of capital investment required to compete. This has thankfully changed, with Cell C having created a profitable business model that goes well beyond the MVNO operations that the market tends to focus on. In this podcast, CEO Jorge Mendes joined me to explain Cell C's business and how they plan to win across key verticals like Prepaid and Postpaid in addition to the exciting MVNO and other opportunities. We talked about why the turnaround is behind them and how Cell C plans to grow into the future. As a separately listed company with a much simpler balance sheet, Cell C is on the radar of investors and worth understanding in more detail. This podcast is an excellent resource in your research process. This podcast has been sponsored by Cell C. As always, I was given an opportunity to dig into the strategy and ask my own questions in my quest to learn more. You must always do your own research and speak to a financial advisor before making any decision to invest. This podcast should not be seen as an investment recommendation or an endorsement.

    34 min
  7. Ghost Stories #87: Lessons from 2025 - discipline over drama

    08/12/2025

    Ghost Stories #87: Lessons from 2025 - discipline over drama

    As we look back on a fascinating year in the markets, Nico Katzke (Head of Portfolio Solutions at Satrix) delivered a fantastic mix of insights on this podcast that can be applied to your strategy in 2026 and beyond. For example, it's so important not to learn the wrong lessons from a particular investment or observation. It's also important to avoid complexity for the sake of complexity - if there's a simple solution that works, then that's probably the right one.  Along with insights related to investment term, diversification, the AI "bubble" (a term that Nico isn't a fan of), US hegemony, gold and REITs, there's just so much in here. Get ready to apply more discipline and less drama to your portfolio decisions, assisted by the depth of knowledge and experience shared by Nico on this podcast.  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

    42 min
  8. Ghost Stories #86: The "always-on" mentality at Sirius Real Estate

    02/12/2025

    Ghost Stories #86: The "always-on" mentality at Sirius Real Estate

    Sirius Real Estate is a great example of a JSE-listed property fund that gives local investors a chance to participate in offshore markets. With a strategy focused on the UK and Germany, Sirius follows an “always-on” mentality to the opportunities in those markets. Whether following megatrends like defence spending and the further industrialisation of the German economy, or being open to opportunistic plays in business parks that offer attractive upside opportunities, Sirius is never too far away from a deal. To understand more about the strategy of the fund and how they win in these markets, I was joined by a full house of CEO Andrew Coombs, CFO Chris Bowman and CIO Tariq Khader. Get ready to learn all about Sirius and the opportunities for this fund. This podcast has been sponsored by Sirius Real Estate. As always, I was given an opportunity to dig into the strategy and ask my own questions in my quest to learn more. You must always do your own research and speak to a financial advisor before making any decision to invest. This podcast should not be seen as an investment recommendation or an endorsement.

    40 min
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Descrizione

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.

Informazioni

  • Creatore
    The Finance Ghost
  • Anni di attività
    2022 - 2026
  • Puntate
    25
  • Classificazione
    Contenuti adatti a tutti
  • Copyright
    © 2022
  • Sito web del podcast
    Ghost Stories

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