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Steinhoff


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#1 SoleTrader

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Posted 19 January 2018 - 02:10 PM

Steinhoff is a pure gamble. I wont touch it unless one of 2 things happens:

 

1. break above R20.00 long

2. break below R5.00 short

 

anything in between is for the mugs....pump and dump

 

Most are convinced this company will fold especially the major  overseas banks 

Above R20 i will be selling.  Below R5 i will be buying. Risk/Reward. 


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#2 Bullhunter

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Posted 19 January 2018 - 10:59 AM

The news today was very positive. I bought 30 000 shares at 680c. I see Biccard in the FM calling the share to R25+. Wonder where is Magda who called it a Ponzi scheme after looking at the financials while having her morning dump?

 

Ferrier was appointed as advisers to Steinhoff Asia in late December. Gabriel Bernarde, now with Viceroy, resigned from Ferrier on November 3 according to Ferrier BUT according to Linkedin, Bernarde left in December.

A coincidence that all of this happened so close to Steinhoff's 6th December announcement?

Where there is smoke, there is fire.


Edited by Bullhunter, 19 January 2018 - 11:00 AM.

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#3 SoleTrader

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Posted 18 January 2018 - 08:09 PM

The news today was very positive. I bought 30 000 shares at 680c. I see Biccard in the FM calling the share to R25+. Wonder where is Magda who called it a Ponzi scheme after looking at the financials while having her morning dump?
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#4 Bullhunter

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Posted 18 January 2018 - 05:27 PM

Mattress Firm and Steinhoff match:

 

https://www.fool.com...res-what-i.aspx

https://www.marketwa...-bid-2016-08-08


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#5 Bullhunter

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Posted 18 January 2018 - 05:17 PM

Mattress Firm and Steinhoff match:

 

https://www.fool.com...res-what-i.aspx


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#6 Polly

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Posted 18 January 2018 - 02:07 PM

Steinhoff is a pure gamble. I wont touch it unless one of 2 things happens:

 

1. break above R20.00 long

2. break below R5.00 short

 

anything in between is for the mugs....pump and dump

 

Most are convinced this company will fold especially the major  overseas banks 


Edited by Polly, 18 January 2018 - 02:11 PM.

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#7 Investment novice

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Posted 18 January 2018 - 07:28 AM

high volume trades; almost 35% variance with the share yesterday after bottoming finishing 25% up in Frankfurt with most of gains in the later part of the day.

No current news except for the fact that bank of America says they will not change their risk appetite-

did the market take this as a signal that the lenders are still backing Steinhoff and expect stabilisation and growth???

 

does anyone have any other news as to the reason behind yesterdays share price debacle....hopefully some sensibility returns and SENS announcement expected soon even if it just indicates progress and timelines

 

 

 

 


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#8 Investment novice

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Posted 17 January 2018 - 12:26 PM

could this all be a storm in a tea cup- hypothetically- reuters exposed the global trade deal and accounting irregularity which was defended. Viceroy exposed management self enrichment with the KL deal; and the remaining concerns are relates to revenue and debt representation. the revenue may be inflated but perhaps 10% inflated? who knows- there is real underlying value and assets generating sales (19 dec presentation)....

 

I cant wait for the full disclosure.......I will bank my house savings at R5.80 a share...worth the risk


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#9 Investment novice

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Posted 15 January 2018 - 02:14 PM

some interesting reading looking at the Tesco case study, and some online critical articles

 

1. hopefully Steinhoff too big too fail and is able to sort liquidity and provide market update this week.

2. shareholder law suits can be settled out of court may take 3 years to do so.

3. German fraud case open since 2015???? and still may take several months- this sounds rather spurious - surely there should have been enough evidence

4 market has already hammered Steinhoff based on share price- interesting read from small caps; and from seeking alpha blood in the baths- share price volatility- an interesting share - high risk- high volume to place at least 10% of funds in-

 

5. Africa bank which is not a suitable comparison- due to steinhoffs high book value and assets- suspended and re - named with old share holders receiving 1:1 share.

 

6. With Steinhoff's current pricing- may be a great acquisition target by online sellers wanting front office retail space or by cash flush companies.

 

 


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#10 Investment novice

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Posted 11 January 2018 - 02:26 PM

interesting average SA share volumes reduced significantly today but Europe maintained with some big volume purchases?

there must be some news that we should expect soon


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#11 Investment novice

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Posted 11 January 2018 - 02:25 PM

interesting average SA share volumes reduced significantly today but Europe maintained with some big volume purchases?

there must be some news that we should expect soon


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#12 Investment novice

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Posted 11 January 2018 - 09:47 AM

on 6Th December  :)  :D  :P

great call- wonder if the market will heed to aspen efforts at stemming the decline


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#13 Bullhunter

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Posted 10 January 2018 - 11:47 PM

One has to ask why Steinhoff chose to make Frankfurt its primary listing. Old man Bruno Steinhoff is German and probably wanted to expropriate his wealth back to Germany (he was born in 1937-JUST prior to WW2).

 

Bruno Steinhoff rang the bell at the Frankfurt Stock Exchange in December 2015, celebrating as the furniture manufacturer he founded in 1964 returned to Germany after 17 years on the Johannesburg Stock Exchange. Unfortunately for him, things had changed somewhat since he left Germany in 1997. 

 

He mentored Jooste, the gruff son of a postal worker who had qualified as an accountant. Wiese too was from a humble background in the small Northern Cape town of Upington.

 

NO FURTHER COMMENT REQUIRED.


Edited by Bullhunter, 10 January 2018 - 11:51 PM.

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#14 Spree

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Posted 10 January 2018 - 04:24 PM

on 6Th December  :)  :D  :P


You called it, Polly. I should have heeded your call and sold, or reduced my holdings. Damn!
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#15 Polly

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Posted 10 January 2018 - 02:53 PM

We already had EOH, now Steinhoff...who is next??  My call Aspen!

 

All manipulated balance sheets whose profits just grow and grow unbelievably...issuing script

 

Skeletons has to show up sometime.

on 6Th December  :)  :D  :P


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#16 Investment novice

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Posted 10 January 2018 - 01:16 PM

Steinhoff accountants too clever for themselves- functioning as a bank!!!

 

it would be interesting to see if PWC can infact add validity to the OBS and demonstrate benefit and legality.

Hopefully not that the OBS are all toxic assets which erodes value- probably not.

 

read the following which I though was rather interesting relating to OBS and banks- credit risk management

 

The off-balance sheet activities are in many instances part o the common business of banking , and not necessarily intended to avoid the regulations as argued by my friend Mo Chaudhury of McGill University, Canada : For example, lines of credit granted by the bank to its customers, the Letters of Credit in the international trade transactions and guarantees given therein by the banks to the exporters, any bank guarantees and contingency liabilities not booked in the balance sheets, the forward market transactions in currencies , and all other financial derivative transactions made often to hedge the risks in the balance sheets like interest rate risks .Many of the forward market transactions like buying and selling currencies are often to cater to the requirements of the customers for hedging their financial and business risks. They are all off-balance sheet activities meant to reduce the risks of the bank customers and of banks themselves in their banking books . If bank's rate sensitive assets are greater than rate sensitive liabilities, if interest rates decline in future , they are exposed to loss , and this can be hedged through an interest rate swap of paying the floating rate and receiving a fixed rate . Taking an interest rate swap is an example for an off-balance sheet activity. Having said all that positive activities, sometimes some banks indulge in speculative risk taking off-balance sheet activities also. However, regulators are trying to prevent that by even limiting the proprietary trade in financial markets by the banks directly and indirectly.....

 

I would guess SNH is guilty of management enrichment and the rest is noise.......

 

hope my noise is more interesting than the redundant media reports


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#17 Investment novice

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Posted 10 January 2018 - 12:55 PM

Viceroy Research, Aurelius Value: Paid Shills Create Negative Fake News on MiMedix Group, MDXG

Do we know who Viceroy research are ? have they painted a plausible story or exaggerated information that they were able to hack, necessitating a comprehensive defense of value and transparency of a poorly integrated multinational?

 

I keep on listening to the bankers presentation on the 19th and cant understand how these leadership brands with revenue and cash flows would need to overly inflate its revenue- perhaps entrepreneurial accounting guided by tax experts. perhaps management enrichment and innapprorpriate representation....but this is not a debt ridden bankrupt company??? 

 

your thoughts

 


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#18 Investment novice

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Posted 09 January 2018 - 12:24 PM

cant blame the media therefore use them to your benefit. media volume increased with ECB selling off bonds and sale of jet, share depressed- its a buy for a quick buck. Steinhoff update on liquidity is due and this should give a 30% gain. Have not seen further sell off of PSG or STAR shares to plug the liquidity gap so it looks like austerity measures and salvaging key assets is the focus. smaller entities may be downsized to raise capital????

 

speculation, speculation; speculation...just hope these sods can at least issue a timeline for when they presume 2017 financials  may be ready let alone the remaining years....

 

as you say very scant  communication with lack of detail


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#19 Blackobar

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Posted 08 January 2018 - 02:53 PM

some nice austerity measures filtering through; board clean up; and so on.
its a waiting game now hey.
the media coverage has been poor as most articles regurgitate what they think they have read from the SENS or what they can sensationalise.
really hope that all is not as bad and some share recovery occurs for the pension funds and for SA's reputation.


You can't blame the media coverage. Steinhoff shareholders are getting little to no information on what's going on, they are just sitting and waiting hoping for "better news" from Steinhoff honchos . The thugs running Steinhoff are the worst, i really feel bad for their shareholders
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#20 Investment novice

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Posted 08 January 2018 - 11:14 AM

some nice austerity measures filtering through; board clean up; and so on.

its a waiting game now hey.

the media coverage has been poor as most articles regurgitate what they think they have read from the SENS or what they can sensationalise.

really hope that all is not as  bad and some share recovery occurs for the pension funds and for SA's reputation.

 

 


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