Magic Markets

The Finance Ghost and Moe-Knows discuss key market trends across stocks, currencies, fixed income, commodities, macroeconomics and geopolitical trends, helping you understand what's going on out there.

Latest Episodes

54

December 01, 2021 00:24:56
Magic Markets #54: Oh-My-Cron!

Magic Markets #54: Oh-My-Cron!

In Episode 54 of Magic Markets, there’s a new variant in town. And that means that the gap between the haves and the have-nots will just get bigger. As the world decided to ostracise South Africa instead of supporting the country, it was another reminder of how this virus has widened the wealth gap. As unemployment in South Africa keeps increasing, we highlight a scary statistic out of Standard Bank: unsecured lending has returned to pre-Covid levels, but asset-based lending hasn’t. In a discussion that touches on a wide variety of points, ranging from office vacancies to the tourism industry, the hosts consider a world that just can’t seem to shake this virus. Magic Markets is your invitation to be part of our discussions on the markets.   ...

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53

November 24, 2021 00:22:05
Magic Markets #53: Bad Balance Sheets

Magic Markets #53: Bad Balance Sheets

In Episode 53 of Magic Markets, we kicked things off with a brief discussion on Jerome Powell (who is now apparently considered “hawkish”) and the Turkish Lira, which is rather broken. We then moved from fiscal balance sheets to company balance sheets. In particular, we explored what happens when bad balance sheets happen to good people. In the aftermath of the pandemic, we’ve seen companies struggle with unsustainable debt. In some cases, this is an opportunity for large new equity investors or existing anchor shareholders to increase their stakes at a depressed valuation. By working through examples like Tongaat, Brait and EOH, we show how important the balance sheet can be. Magic Markets is your invitation to be part of our discussions on macro themes and company-specific news in the markets. ...

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52

November 18, 2021 00:22:47
Magic Markets #52: Q3 Revenue and Cyclicals

Magic Markets #52: Q3 Revenue and Cyclicals

After a flurry of international guests on Magic Markets, hosts The Finance Ghost and Mohammed Nalla take a breather for the one-year anniversary of Magic Markets and hang out with each other for a change. Of course, markets are always on the menu, so the hosts decided to discuss some of the important trends in the US market in the third quarter. There’s a brief discussion on inflation and the revenue growth numbers coming through in S&P 500 companies. The hosts also looked at the sectors that are expected to benefit over the next few months, referencing various data sources in the process. Magic Markets is your invitation to be part of our discussions on global markets. ...

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51

November 10, 2021 00:28:41
Magic Markets #51: Foreign Investment in SA

Magic Markets #51: Foreign Investment in SA

Natale Labia is a South African living in Italy (Milan, to be exact) and so he brings a European perspective to the show. As an ex-South African banker, Natale is familiar with our market. He applies that expertise in his role as a partner at Lionhead Capital, where he is Head of Macro Strategy and Economics. You can read more about Natale's background at this link. Some listeners may recognise his name from his regular contributions to Daily Maverick, a publication which Magic Markets co-host The Finance Ghost also contributes to on a weekly basis. In this show, we discussed a macro view on the relative valuation of South African bonds and equities compared to other markets. We also talked about sectors of interest in South Africa and how international investors view our country. Magic Markets is your invitation to be part of our global conversations on the markets and investments. ...

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50

November 03, 2021 00:23:38
Magic Markets Ep50: Competition Commission

Magic Markets Ep50: Competition Commission

After the controversy around Grand Parade’s efforts to sell Burger King South Africa to a private equity fund, the Competition Commission became even more topical for investors. South Africa is a somewhat unique environment, with public interest considerations creating the risk of unpleasant outcomes in deals. Internationally, antitrust legislation and regulatory policy can make a significant difference to investment returns. Some Big Tech companies are more at risk than others. To help make sense of it all, Duncan Lishman joined us to discuss the world of competition regulation. As a competition economist, Duncan is highly skilled and experienced in this area.  Magic Markets is your invitation to join our conversations with experts on topics that affect the markets. ...

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49

October 28, 2021 00:26:32
Magic Markets #49: Heroes and Net Zeroes

Magic Markets #49: Heroes and Net Zeroes

There’s nothing more topical than ESG. There’s also nothing more complicated and politically sensitive on the global stage.  With COP 26 taking place soon in Glasgow, everyone is focused on ESG. We are seeing this in the markets, in corporate strategies and in asset management products.  To help us make sense of it all and to get a global view on these matters, we were thrilled to welcome Kate Mackenzie to the show. Kate is a Bloomberg Green Columnist based in Australia. We had to navigate some tricky time zones to make this episode work, but that pales in comparison to how tricky the underlying topics are.  Magic Markets is your invitation to join The Finance Ghost and Mohammed Nalla on a journey of discovery in the markets. ...

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