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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Currencies & Sensitivity

EM currency traders reacted nervously to Trump’s tweet, and Anthea explains why currencies are sensitive to seemingly insignificant things such as a tweet or someone's opinion. Trade negotiations remained in the spotlight as the Chinese delegation headed to Washington. Meanwhile back home, President Ramaphosa - in his recently launched Monday newsletters to the nation - said he is hopeful an agreement (AfCFTA – African Continental Free Trade Agreement) that could see the continent become the world’s largest free-trade zone, will boost the country’s sluggish economy.

Trade Wars & Risk

Markets were plagued by risk off sentiment last week as traders and investors worried about trade wars. Meanwhile, it looks like we’ll have a new listing on the JSE next year with Engen raising money to upgrade its Durban facilities. Then, FSCA imposed a record R100m fine on MetCI last week, four years after Third Circle lost two thirds of its value in just two days of trading in December 2015.

The Rise & Fall of Banking

Pick n Pay makes a startling announcement around being billions in debt. Capitec on the other hand seems to be bucking the banking trend and growing ever stronger, where other banks are seeing a decline. Then, Niche financial services group Ecsponent announces that they are expecting HEPS to fall by at least 195%.

The week of Central Banks

Anthea is back and gives us a full update on everything in the world of finance and banking. The CPI inflation has come out at 4.4%, while the EOH is expecting an EPS loss, and Sasol is planning on selling its South African coal mining business.

Why the Market has it so Wrong

Facebook: the 'not so sexy' tech stock these days. Henry Biddlecombe chats to us about social media platforms and what strategies they are putting in place to bring in more revenue. Do you know what influences your spending habits? Well big organisations do, and it might be useful to know how they capitalise on this with this week’s Money Shot.

Interesting Developments in the Tech Space

Sasol delays the release of its FY19 restuls and Seleho Tsatsi is in to tell us more. A new Apple phone has been unveiled and we get into the financials of this mobile giant, as well as whether it's actually worth the upgrade. On the other end of the spectrum, Facebook has launched a dating site in the US - but will they monetise this too, as we've seen with the likes of Tinder?

Let’s See the Results

There’s lots of company results from this past week. Stadio reported a 46% in HEPS for the first half of their financial year. Logistics business Imperial reported a 7% decline in full year earnings, blaming the economy for the poor performance. And finally, DRD Gold increased revenue by 11% and operating profit by 9%.

Make up your mind Mr President

Global markets adopted a 'wait and see' approach this week, in anticipation of what the US Fed would say at the Jackson Hole meeting, after the Yield curve inverted last week; volumes were just pathetic. Investors are getting whiplash as Trump spent the week flip flopping. Back home, Moody’s issued a statement stating that they believe that the South Africa’s government will try to absorb the additional support for Eskom Holdings SOC Ltd. with new revenue or expenditure measures in the mid-term budget.

US & Argentina Creating Waves

The US yield curve inverted (although briefly), meaning that the yield on the 10 year government bond was lower than the yield on the 2 year bond. Find out why this is important in this week's episode of the Money Shot. And, Argentinian populist candidate Alberto Fernandez won the primary election and the market reacted very badly.

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.

202 episodes

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