501 replies to this topic

[Procrastinator]

Yep, luckily not touching this one but thought it couldn't get much worse, I was mistaken!

Capitec will be next, impossible that they are not going to burn exactly like Abil on the unsecured debt. At the moment they are being opaque about their NPL situation "extend and pretend" is the description used in papers this weekend, trying to fly under the radar hoping that the tide will turn, the inevitable chickens will come to roost some time in the near term.
PSG will come off too when this one eventually pops out.

[Goliath]

Looks like you are on the money here, Moody's downgrade today, down 6.7 % so far today to 8.50, lots of funds taking a proper bath on this one.

 

Yep, luckily not touching this one but thought it couldn't get much worse, I was mistaken!

[Zero Hedge]

Hi Zero Hedge,

Any links to your source for these hedge funds?

Which hedge funds?

Plenty of US based funds...there was article on Moneyweb early 2013 where they quoted the specific hedge fund manager...from Canatus Capital (search Moneyweb and you will find article). Also Bloomberg article out recently stating 36One also short...as I have said before be careful playing this one from the Long side...you are catching a falling knife..management can't be TRUSTED and their business model is broken.

 

 

     36ONE Asset Management, which oversees the equivalent of
$1.1 billion, has shorted shares in South Africa’s largest
unsecured loans-provider in a bet declines have further to run,
according to Jean Pierre Verster, who helps oversee the
Johannesburg-based company’s 4 billion-rand ($384 million) hedg

[Procrastinator]

How much worse can it get?
 
Well ..... What's the NAV?  somewhere around R5 I believe (could be wrong)....
 
This company has such a good chance of going under its not worth even looking at. 
 
Looking for deep value will be the end of people.

Looks like you are on the money here, Moody's downgrade today, down 6.7 % so far today to 8.50, lots of funds taking a proper bath on this one.

[ThatBlackGuy]

Not very good results, but think if you look at it, how much worse can it get? They made lot of provisions etc and seems they have tighten the screws so it could perhaps just get better from here on forward.. at least that is what a lot of the asset managers think? Yes unsecured lending not very popular now but it will stay as a lot of people rely on this type of financing.. my opinion at least, could be wrong

 

How much worse can it get?

 

Well ..... What's the NAV?  somewhere around R5 I believe (could be wrong)....

 

This company has such a good chance of going under its not worth even looking at. 

 

Looking for deep value will be the end of people.

[Goliath]

I really don't understand this share

Shocking results, crashes down to a low of R7.62, and now back up over R9.50

 

Not very good results, but think if you look at it, how much worse can it get? They made lot of provisions etc and seems they have tighten the screws so it could perhaps just get better from here on forward.. at least that is what a lot of the asset managers think? Yes unsecured lending not very popular now but it will stay as a lot of people rely on this type of financing.. my opinion at least, could be wrong

[Queen B]

LMAO

Classic Interview

[TradeBit]

https://www.facebook...&type=2

 

[Queen B]

I really don't understand this share

Shocking results, crashes down to a low of R7.62, and now back up over R9.50

[Mokhachane]

Seems foreign hedge funds got this one 100% right...they believe it is going to zero and are still shorting it...and that is despite the fact that they now have to pay 16% for the borrow...who would have thought!!

Hi Zero Hedge,

Any links to your source for these hedge funds?

Which hedge funds?

[HDB]

Had a read through the moneyweb articles, the results is bad but some of the guys seems to think it can't get much worse? Opinions?

It looked like that 12 months ago.....and then again 6 months ago!!

R14.00...then R12.00 and now ????

[Goliath]

Had a read through the moneyweb articles, the results is bad but some of the guys seems to think it can't get much worse? Opinions?

[Zero Hedge]

Will probably go down a bit more before going up..? My thinking, perhaps someone eyeing it for possible buyout or who knows?

Seems foreign hedge funds got this one 100% right...they believe it is going to zero and are still shorting it...and that is despite the fact that they now have to pay 16% for the borrow...who would have thought!!

[Goliath]

I'm pot committed

Can anyone tell the bottom or is this another Blue Financial in the making

Will probably go down a bit more before going up..? My thinking, perhaps someone eyeing it for possible buyout or who knows?

[HendrikB]

I bought ABIL at R28.00. Sold at R14.00 including the rights. Very dissapointed in the management, CEO in particular. CLUELESS.

[Eagle7]

I'm pot committed

Can anyone tell the bottom or is this another Blue Financial in the making

[soutie]

Oh dear....! Bottom pickers get ready....

[Goliath]

Good heavens, what a trading statement!

[Procrastinator]

At a glance it appears they've used most of the rights cash to cover the losses reported here..!
 
JSE's only listed ponzi.....roll up.....roll up.....

Management logic flawed, when they did the rights offer they declared a dividend almost simultaneously, truly the mind boggles with this bunch.

[HendrikB]

3 billion in 6 months. Thats ridiculous.