{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Best and worst JSE Stocks Over the Last Decade","description":" dd \ud83c\udf0d Worldwide Markets \u2013 Episode 658 \ud83d\udcc5 26 November 2025 \ud83c\udf99\ufe0f Hosted by Simon Brown \ud83d\udcbc Powered by Standard Bank Global Markets & Shyft \ud83d\udd25 This Week\u2019s Big Themes \ud83d\udcca JSE 10-year returns \u2014 miners dominate! \ud83d\udcbd Nvidia results: great numbers, strange market reaction \ud83e\udd47 Harmony goes big on copper \ud83d\udee0\ufe0f SA Inc sleeper stock ready to run with GDP recovery \ud83d\udce6 Process\/Tencent update: super-app dreams + buybacks \ud83e\udde0 Standard Bank launches new AI structured product \ud83c\udfaf Power Hour: Position your portfolio for 2026 (8 December) \ud83c\udfed Invicta Results \u2014 A Deep Value SA Inc Play \ud83c\udfd7\ufe0f Capital equipment group with exposure to SA, EU, US & Asia. \ud83c\udf0d Tariffs hit their China \u2192 US shipments. \ud83d\udcb0 Valuation extremely cheap: PE < 5 Dividend yield > 3% Price-to-book: 0.7 \ud83d\udea7 SA\u2019s weak GDP is the drag \u2014 but a recovery to 1.8% \u2192 2% \u2192 3% could turn this into a major SA Inc winner. \u2699\ufe0f Manufacturers sweating assets = more parts sold = small cyclical buffer. \ud83e\udd62 Prosus \/ Naspers \/ Tencent \u2014 Cash Flow Turns Positive \ud83d\udcb5 First positive free cash flow ever \u2192 +$59m vs -$104m. \ud83d\udcb0 Billions of $ in cash reserves. \ud83c\udf54 Food delivery (iFood, etc.) gaining scale + working toward a unified \u201csuper-app\u201d model. \ud83e\udde7 Still overwhelmingly driven by Tencent, but: \ud83c\udfae Tencent Games \ud83c\udfb5 Tencent Music \ud83d\udcfa Online ads \ud83d\udcf1 WeChat ecosystem \ud83c\udfa5 Epic Games stake \ud83c\udf9e\ufe0f TikTok-style platforms \ud83d\udd04 Ongoing share buybacks funded by selling Tencent into Hong Kong. \ud83d\udcbb Nvidia \u2014 Big Beat, Yet the Stock Falls? \ud83d\udcc8 Beat on revenue, profit, and guidance \u2014 classic Nvidia. \ud83e\udd14 But inventory jumped 32%, raising questions about demand visibility. \ud83c\udfed Meta reportedly exploring Google chips, with Amazon & Google also pushing their own silicon. \u26a0\ufe0f Non-Nvidia chips = slower + higher power usage \u2192 still \u201cB-grade\u201d. \ud83d\udcc9 Technically: Support at ~$180 Next support ~$166 Further support ~$150s \ud83c\udf88 Bubble chatter now turning into \u201cyes, it is a bubble\u201d \u2014 but bubbles go UP before they pop. \ud83d\udcc9 Mag-7 200-day MA signals: Only Meta sits below (-10%). Microsoft almost there (+1.5%). Amazon also soft (+5%). \ud83e\udd47 Harmony \u2014 From Gold to Copper Giant? \ud83e\ude99 Buying + building the Eva copper project in Australia. \ud83e\uddf1 Production cost: $2.50\/lb copper (vs spot ~$4.50\u2013$5.25). \u26cf\ufe0f Harmony is shifting from pure gold \u2192 gold + copper, diversifying earnings. \ud83c\udf99\ufe0f Jimmy Moyaha\u2019s view: \u2714\ufe0f Good blend of cyclical exposures \u2714\ufe0f Some risk hedging between metals \u26cf\ufe0f Deep SA gold mines = harder + costlier \u2192 copper is a logical hedge. \ud83d\udd0c Copper = \u201cmetal of the future\u201d (again) due to electrification & green tech. \ud83e\udde0 Standard Bank AI Structured Product (Now Open!) \ud83e\uddfa Basket: \ud83c\uddfa\ud83c\uddf8 US Tech (NASDAQ) \ud83c\udde8\ud83c\uddf3 China Tech (KWEB) \ud83d\udcb8 Auto-call feature: Year 1: If both indices are positive \u2192 16% payout If not, each subsequent year with positivity \u2192 16% per year Max 5-year horizon = up to 80% \ud83d\udee1\ufe0f Capital protection: 100% capital back if indices not more than 30% down at maturity \ud83d\udcb5 Minimum: R25,000 (+ R1,000 increments) \ud83d\uddd3\ufe0f Closing: 3 December 2025 \ud83d\udccd Available via OST or your stockbroker. \ud83d\udcc8 10-Year JSE Winners \u2014 The Miners Dominate \ud83e\udd47 Top Performers (per-year returns, excluding dividends) \ud83e\udd47 Harmony Gold \u2014 43.5% p.a. (3600% total!) \ud83e\udd48 Gold Fields \u2014 37% \ud83e\udd49 Kumba Iron Ore \u2014 33% (42% incl. dividends) \u2692\ufe0f Exxaro \u2014 28% + 12% dividends \u2699\ufe0f Northam Platinum \u2014 28.5% \ud83c\uddec\ud83c\udde7 Argent \u2014 27% (first non-miner) \ud83d\udcbc African Rainbow Capital \/ Valterra \u2014 25% \ud83c\udfe6 Capitec \u2014 22.5% + dividends \u2192 24% total \ud83d\udee0\ufe0f Bell Equipment, Merafe, Sibanye \u2014 strong ~19%+ \ud83c\udf10 Datatec \u2014 19% + 17% dividends \u2192 37% \ud83d\udcc9 Big Losers (per-year declines) \ud83e\ude93 Eskom (ELI \/ ACO) \u2014 -26% \ud83d\udce6 Nampak \u2014 -18% \ud83d\udecf\ufe0f City Lodge \u2014 -14.5% \ud83e\uddea ArcelorMittal \u2014 -14% \ud83d\udc8a Aspen \u2014 -10% \ud83d\udee2\ufe0f Sasol \u2014 -10% \ud83c\udfd8\ufe0f Balwin \u2014 -7% \ud83c\udf54 Famous Brands \u2014 -7% \ud83e\uddf1 PPC \u2014 -5% \ud83d\uded2 Pick n Pay \u2014 -5% \ud83c\udfe5 Netcare \u2014 -4.8% \ud83e\uddfa Woolworths \u2014 2.4% p.a. (only 1.4% incl. dividends) \ud83d\udcca Top 40 \u2014 10-Year Benchmark Performance \ud83d\udcc8 118% total return over 10 years \ud83d\udcc9 CAGR: 8.2% (\u224810.5% incl. dividends) \ud83d\udccc Best period: 11.6% (2019) \ud83d\udccc Worst: ~3% during crisis \ud83c\udfaf Real return (CPI ~5%): \u22487% \u2014 very respectable. \ud83d\udce3 Call to Action \ud83d\udcac Tell us in the comments: Which 10-year winners do you own? Which stats shocked you most? What\u2019s your best-performing JSE stock of the last decade?   ","author_name":"WorldWide Markets with Simon Brown","author_url":"http:\/\/www.justonelap.com","html":"