The Money Shot

CLIFFCENTRAL.COM  |  Podcast , ±15 min episodes every 1 week  | 
Find out where the money’s going, who’s got the money, how you can make more of the money and who’s making decisions about the money. Every Monday on The Gareth Cliff Show we get an update on what’s happening in the world of finance from money manager, Anthea Gardner – MD of Cartesian Capital, founder of, Ironman, prolific reader, Francophile, survivor of the Arab Spring & wine enthusiast.

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Threats of currency war & SASBO strike

China fired a warning shot as it weakened its currency against the US Dollar. The Yuan fell by 6% on Monday, not enough to make up for the Trade Tariffs that were imposed the week before, but certainly a warning. Trump reacted badly, asking the Fed to review currency manipulation. SASBO, the SA banking union, is threatening to strike over job losses on the sector. They have 73k employees registered with the union, threatening to bring SA banking system to a halt.

Billions on the Move

It's a busy week as the US Fed cuts interest rates. Trump imposes an additional 10% trade tariff on $300bn worth of Chinese goods. Meanwhile back at home, the boardroom brawl continues between Old Mutual and Peter Moyo, Eskom reports a R20.7bn loss for the financial year, and the Rand plummets to close Friday at R14.76 against the US Dollar - after trading with a 13 handle just a week ago. And Woolworths reports rather disappointing results.

SA Govt treading dangerous waters

CPI inflation came in again slap bang in the middle of the SARB’s target range. Eskom gets an additional bailout of R59bn, and the chickens are already coming home to roost as Fitch kept our credit rating stable, but downgrades the outlook from stable to negative... and Moody’s warns that government debt is now at dangerous levels.

What the Markets Are Not Loving

It seems like the markets are not loving the renewed talks of China/US trade wars and the seizing of the British “fuel smuggling” tanker by Iran in the Strait of Homuz. Anthea explains that, as well as sharing the good news of the SA Reserve Bank cutting interest rates and Ford committing to creating 1,200 new jobs as they ramp up their new plant here in SA. She also reports on EOH, Pioneer Foods and PepsiCo. To wrap things up, she discusses how Netflix has fallen 12% in after-hours trading on Wednesday after indicating that it had lost subscribers in the US for the first time since 2008.

To Virgin Galactic, and Beyond...

The market is swinging in all directions while the Rand is constantly flirting with the 13 handle to the USD, but can’t seem to settle on this figure. Woolworths releases a trading update which is in line with what was expected. Health is important and FNB’s banking app now rewards good well-being. The CEO of the Stringfellow Group hands himself over to the police in Honeydew, following allegations that he may have misappropriated hundreds of millions in client funds. Plus, more on Richard Branson’s space-tourism venture, Virgin Galactic.

Peter Moyo vs Trevor Manuel

With Gareth away, the rest of the team take up this week's finance conversations with Anthea, starting with a look at trading volumes and US non-farm payrolls. Congratulations go out to Christine Lagarde and Phuti Mahanyele-Debengwa on their new positions. Anthea then unpacks Eskom’s debt for government bonds or ring-fencing it in a special account, before giving details of escalating battle between Peter Moyo and Trevor Manuel. She wraps things up by helping a listener find out more about Karatbars.

The New #PayBackTheMoney

With the beginning of July signalling the mid-point of the year, Anthea reports on the JSE closing the first half of 2019 in positive territory, despite a weak economy - an economy that remains stuck in its longest downward cycle since 1945. She also looks at the formal sector adding 22 000 new jobs in the first quarter of 2019, Daniel Mminele’s resignation, the petrol price, and Steinhoff looking to recover R870m from Jooste. The new #PayBackTheMoney - Discovery Bank - gets discussed, too.

Up and Down Rates & Facebook's new Cryptocurrency

The US Fed has left rates unchanged, but signalled that they are prepared to cut rates. On Wednesday the European Central Bank (ECB) surprised the market by signalling an increased likelihood of rate cuts (although rates are already at record lows) and stimulus measure. South Africa’s May 2019 CPI inflation rate came out at 4.5% y/y (April 4.4% y/y). Multichoice reported core HEPS up 10% to 410cps, which was roughly the mid-point of the range given in the recent trading update. Naspers has released its results for the year to end March. KAP reported a core HEPS decline of 8% for FY19, which is an unexpected disappointment, especially in light of the 6% growth achieved in H1. And Facebook announced the launch of its cryptocurrency, Libra.

Fake Meat, Real Money

How has the bombing of the two Japanese oil tankers in the strait of Hormuz by the Iranians impacted the economy? Anthea explains it to the team, before looking at emerging markets, mining production and Business Confidence. She also touches on Naspers rising, even though Tencent fell in Hong Kong. She concludes with an analysis of Beyond Meat, a Los Angeles based producer of plant-based meat substitutes.

How To Make Your Money Work For You

In this special edition of The Money Shot, the team turn the tables on Anthea as they pick her brain about her new book, 'How To Make Your Money Work For You'. Find out how her book advises you to ‘sweat your assets’ by making your hard-earned cash work for you – and it won’t even require a degree in accounting.

Another CEO Bites The Dust

Markets ended the week in the black, but it was mostly about the macro-economics last week - get insight about this straight from Anthea here. SAA's CEO, on top of all other CEOs recently, has stepped down. She also looks at company news before giving her take on US non-farm payrolls.

What Tech Investments Should You Be Looking At?

While Anthea is away, Henry Biddlecombe takes her seat to give an update on finance and the markets. He breaks down what operating leverage - this incredibly boring-sounding accounting term - has to do with your portfolio. Then, he also weighs out whether the Beyond Meat IPO is something to get excited about. Lastly, he gives his take on the tech you can invest in without burning your fingers.

193 episodes

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