19 replies to this topic

[soutie]

Steinhof...Mattress Firm...Overpaid Wiese & co all agreed/signed off....Tick...

Brait.....New Look...Really overpaid Wiese & co all agreed\signed off...Tick...

 

Steinhof ...Wiese wants his cookies back & can't have them...Steinhof too big to bully

Brait...Wiese wants his cookies back....Brait not so big to bully...To be continued......

 

My conclusion shareholder gets screwed....

[Lionelza1]

Hi Lionel...Didn't you get your fingers burnt in Steinhof....? While this is a different movie I see very similar actors don't you...?

Hi Soutie, yeah fingers burnt in steinhoff.

Similar actor Wiese but he was not the reason for steinhoffs collapse

So the plan is to change management in Brait, seeing the historic trend on this share why not hey! .... Market seems to be liking it... Trick?

But yea business "position" still the same, huge debt... I haven't bought... Will watch to see how market reacts

[soutie]

Hi Lionel...Didn't you get your fingers burnt in Steinhof....? While this is a different movie I see very similar actors don't you...?

[Lionelza1]

https://www.sharenet...seq=3&scode=BAT

 

any1 with views on this?

[Lionelza1]

One to watch out for I reckon..decent volumes traded since rumours on Christo wiese plans

https://m.fin24.com/...s-2019091915400

[Bullhunter]

Time for a technical bounce. Took some at R59 today

At R42 it must be a bargain?

[SoleTrader]

And off she goes. Interesting that Brait looking east for expansion.

[SoleTrader]

Time for a technical bounce. Took some at R59 today

[SoleTrader]

I squirmed out of this one at a decent profit of R14 per share on the day of the trading update. Too late to short now, but NewLook is full of debt. Most likely best to put zero value on it. This takes the NAV down to R67. Add a 10% discount for a holding company, results in a value of R61 per share. So fully priced my gut feel right now.

[CrescoRSA]

Taking a beating today!! Looking attractive, yes - but there's definitely still some downside. This one can even get to under R50 in the coming months. The Rand will continue to strengthen, which is not good for them

[SoleTrader]

Completed my order today. I see the stock fell out of the ALSI40 index, so the dumb index funds and ETFs suppressed the price when they liquidated their holdings. Any case, the stock technical looking like a buy, much cheaper that a year ago

[Jack5]

I've Also been looking at this one for my long term portfolio. I was thinking it might drop a litlle more, as the pound has weakend further since the last NAV update. Maybe it's already priced in?

[SoleTrader]

Looks like a decent entry level point. Took 75% of my order at 7600c today.

[SLEEKONE]

I also wanted to get in when it was R125, now I regret not punting when i could

[myusuf]

Ok I got in at 127 - when it was 10p down on friday

[Fuxx]

I read of rumours that Wieso is looking at buying a supermarket chain in the UK..

Something to keep an eye on!

 

At 160 I would short it. 130 buy it... interesting where it trades. NAV is only like 82 or so...

[Sam]

Isn't the 30% the problem?
Surely it should have been higher but then wouldn't have been an as attractive investment for the take up which was oversubscribed.
My reasoning here is that at maturity, because of the lower convertible px ( assuming that the market px is somewhat higher at that time) more share will have to be issued than if market price were paid. This will tend to dilute share value.
Still... I agree with you that the markdown was most likely a bit extreme.


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[Fuxx]

The drop was a complete overshot by the market. Those convertible bonds are only at a 30% premium in a few years, Brait will do more.

 

This is a good buy to 140 odd levels again I reckon

 

 

[myusuf]

Is this going north or south after the drop this week