Member
Posted 04 January 2017 - 09:05 AM
As someone with a Dokter graad (self assigned or awarded), you should be aware that it takes more than 1 buyer to rerate a share. Also, the JSE doesn't really like it when a share price gets manipulated.,..
Have you got hard evidence of this? And would you be saying this had you not sold out already? Not necessarily saying you wrong, but would like to know on what basis you make this rather serious accusation.
Little Master
Posted 03 January 2017 - 03:53 PM
As someone with a Dokter graad (self assigned or awarded), you should be aware that it takes more than 1 buyer to rerate a share. Also, the JSE doesn't really like it when a share price gets manipulated.,..
Advanced Member
Posted 12 December 2016 - 02:46 PM
Member
Posted 05 December 2016 - 11:53 AM
McDougall's resignation is just the cherry on top. @DividendTycoon yes its horrible to be let down when you believed in something, but as Buffet said, The share doesn't know that you own it. I think Trustco is that classic restaurant kitchen analogy - the patrons have got no idea what's happening in the kitchen. For me the red light flashed when rumours of van rooyen being a common thief started, then one rather panics first and investigates later.
He has admitted publicly to having a criminal record for something many years back. I am less worried about that than the reason for McDougall's resignation or the bad press Trustco is receiving, and the mining issues. I also felt the debt on the Balance Sheet had risen a little too high. I will most likely wait until the March 2017 results are released to decide on further action, but I can say that the risks have definitely risen, hence reducing my holding, and risk.
Little Master
Posted 03 December 2016 - 01:33 PM
Member
Posted 03 December 2016 - 10:53 AM
I spent time studying things after McDougall's resignation, and studying the numbers. While not in a panic as I still have some faith in the company, I sold about 20% of my holding at R3.20. The rest is effectively free, but may lighten holdings further in new tax year if I do not get a better feeling about things. Pity as this was a long term wealth building hold, but sometimes you have to be able to change your mind if new facts warrant it.
Member
Posted 03 December 2016 - 10:52 AM
I spent time studying things after McDougall's resignation, and studying the numbers. While not in a panic as I still have some faith in the company, I sold about 20% of my holding at R3.20. The rest is effectively free, but may lighten holdings further in new tax year if I do not get a better feeling about things. Pity as this was a long term wealth building hold, but sometimes you have to be able to change your mind if new facts warrant it.
Little Master
Posted 03 December 2016 - 09:06 AM
Edited by SoleTrader, 03 December 2016 - 09:08 AM.
Little Master
Posted 28 November 2016 - 03:30 PM
Ai Dokter. But anycase R8600 not such a large amount of cash, our politicians steal multiples of that on a daily basis.
Little Master
Posted 26 November 2016 - 10:29 AM
Member
Posted 25 November 2016 - 03:19 PM
The chickens coming home to roost?
McDougall admitted uncertainty over the prospects of the mining licence could scuttle the deal.“If we don’t get any mining licence we don’t have any deal.
Do not really see the problem:
2 scenarios:
1: No licence = no deal = no problem
2. License received. Have to reach minimum earnings, think it something like N$250m for first batch of shares. No profit = no deal = no problem.
Still, is a pity McDougall resigned, that is always a worry.
Little Master
Posted 25 November 2016 - 01:14 PM
The chickens coming home to roost?
http://www.observer....mond-deal-fishy
Little Master
Posted 24 November 2016 - 04:49 PM
And there the Financial Director follows his deputy and resigns as well. O gonna what now?
Little Master
Posted 23 November 2016 - 07:24 PM
Member
Posted 18 November 2016 - 08:27 AM
Not sure about the Doctor story, but I have chosen to overlook all the side issues and just look at the numbers, which are still ok.
I understand your position, I am probably suffering confirmation bias in the other direction, but do still believe there can be a good result here long term, although sure there will be some pain along the way.
Little Master
Posted 17 November 2016 - 11:32 AM
Member
Posted 17 November 2016 - 09:06 AM
1. Rumours that the CEO has got a criminal record
2. Director a fugitive from the law
3. Their banking and finance arms are essentially loan sharks (e.g. one of their financed clients ended up paying R24000 for a R6000 laptop)
4. Their diamond business is a pipe dream - geological surveys of that area indicate no commercial diamonds whatsoever - van Rooyen wouldn't/couldn't even answer basic questions posed by the FM on the operation.
5. is the diamond operation a conduit for something more sinister, e.g blood diamonds from Angola and West Africa?
https://www.newera.c...zao-ad-trustco/
Katzao labeled Van Rooyen a convicted thief.
What are we dealing with here?
Above is what you wrote on the 10 March and presently, so despite knowing or suspecting he is a 'criminal' in March you proceeded to invest again in TTO. Why would you do that? Now that the share price slipping and your investment looking poor you looking for reasons to dump the share again. Called confirmation bias.
I take all these criminal reports with a pinch of salt. Although I do not doubt that there are some ghosts in the closet, most owner-CEO's did not get there being nice guys.. The results had a few things I am slightly concerned with, but will study more, overall it is still quite profitable though. The dividend pass is a pity, although it makes sense. I am a long term investor and not worried about share price in short term, hopefully they will buy back more at these prices, as they say they are doing.
Little Master
Posted 16 November 2016 - 06:19 PM
Little Master
Posted 16 November 2016 - 05:02 PM
There goes the dividend, there goes the shareprice! And once again no tax paid, so the eanings is artificially inflated.
Looking for a buyer, no one is sight.
Member
Posted 16 November 2016 - 08:33 AM
Shareholders wont be too chuffed if the stock is trading below 480c when the minority purchase happens! Lets wait for the results - but 500c this year looks like a pipe dream! My question once again, why cant they get the final signature for the Government Official?
Not too worried about them paying 480c if they feel it valued correctly, there is no way you could pick up over 40m shares without moving price substantially.
And as we speak they release another SENS stating that although the elusive civil servant hasn't given them a signature, they are amending the Huso conditions (in the CEOs favour I assume) The smoke and mirrors continue. Maybe not so many diamonds in them dunes hey Mr CEO?
I read this as a positive move, price of diamond mines to be based on earnings, so if a dud then surely no payment.
