15225 replies to this topic

[Squideye]

German prosecutors say they are ready to charge former Steinhoff executives for what is known as the biggest financial scandal in South African history. James Brent-Styan says he for one is not optimistic that the real culprits will be brought to book. He joined Michelle Craig on the AM Report @

[Africa1962]

Africa1962, on 04 Mar 2021 - 06:05 AM, said:

i dont think they made it...announcements are out but No Steinhoff....

 

https://www.deutsche...rgy-AG--2563288

 

see new names here

[Africa1962]

DayTraderDad, on 03 Mar 2021 - 11:07 AM, said:

https://www.onvista....dhoch-438404311

 

The furniture retailer Steinhoff  as well as the IT security company Secunet and the personnel management software provider Atoss are therefore expected back in the SDax 

 

i dont think they made it...announcements are out but No Steinhoff....

[LarryK]

I remember how jooste managed to dominate the discussion in parliament. He won't be easy to prosecute unless experts are brought in. Not sure if there's anyone left with the right expertise?

Tiekkie, on 04 Mar 2021 - 04:36 AM, said:

https://www.moneyweb...l-charges-loom/ every outlet is talking everyday about SNH...I see this as positive.

[Tiekkie]

https://www.moneyweb...l-charges-loom/ every outlet is talking everyday about SNH...I see this as positive.

[DayTraderDad]

sommerso, on 03 Mar 2021 - 7:33 PM, said:

I suspect the deeper pocket institutions might have a off the record kitty, call it miscellaneous ..or petty... or stationary funds to play with ... higher risk and higher rewards type stuff to improve their bottom lines. They could use that to pump the price by 10% and then sell off or short ..or whatever they do.... if you can make a quick 10% in a day on 5 million commercial bucks, it would be a good day? 

I support your view because I also believe that is happening. One can see when they come in all of  sudden big offer/bids arrive.

[sommerso]

Everlearning, on 03 Mar 2021 - 2:21 PM, said:

Hi Tolly

 

Not sure of the GSacks transaction and if it was not just a 'bookover'.

 

Generally almost all funds as part of their investment mandate are only able to invest in 'clean' companies. That would mean they need "unqualified" audits to be able to invest. 

 

Anyway, I'd love to be wrong and maybe someone else on the group can elaborate

 

I suspect the deeper pocket institutions might have a off the record kitty, call it miscellaneous ..or petty... or stationary funds to play with ... higher risk and higher rewards type stuff to improve their bottom lines. They could use that to pump the price by 10% and then sell off or short ..or whatever they do.... if you can make a quick 10% in a day on 5 million commercial bucks, it would be a good day? 

[DayTraderDad]

Tolly12, on 03 Mar 2021 - 2:42 PM, said:

Thank you Everlearning.

 

So I need to understand why, based on MorningStar report I've seen frequently posted also here, quite a lot of Institutonal and Fund seems already invested in Steinhoff (with few percentage).

I'll try to study and understand if they are aready able or not.

 

M

I am confident that the big guys are already playing that´s why we see big volumes. But they are very nervous until there is a settlement.

[Tolly12]

Everlearning, on 03 Mar 2021 - 2:21 PM, said:

Hi Tolly

 

Not sure of the GSacks transaction and if it was not just a 'bookover'.

 

Generally almost all funds as part of their investment mandate are only able to invest in 'clean' companies. That would mean they need "unqualified" audits to be able to invest. 

 

Anyway, I'd love to be wrong and maybe someone else on the group can elaborate

 

Thank you Everlearning.

 

So I need to understand why, based on MorningStar report I've seen frequently posted also here, quite a lot of Institutonal and Fund seems already invested in Steinhoff (with few percentage).

I'll try to study and understand if they are aready able or not.

 

M

[Everlearning]

Hi Tolly

 

Not sure of the GSacks transaction and if it was not just a 'bookover'.

 

Generally almost all funds as part of their investment mandate are only able to invest in 'clean' companies. That would mean they need "unqualified" audits to be able to invest. 

 

Anyway, I'd love to be wrong and maybe someone else on the group can elaborate

[Tolly12]

Everlearning, on 03 Mar 2021 - 1:27 PM, said:

Ja Tiekkie I agree!

My sense is that Institutional and Funds will not be able to invest until they have an "Unqualified" Audit Report which as things stand will only be at the end of this financial year (Sept 2021). This would be huge as they are normally in for the long run and would mop up the 'loose' shares trading daily.

 

Anyway, we just got to hang in there and ride the waves!

 

Hi Everlearning, 

 

why you say that 'Institutional and Funds will not be able to invest until they have an "Unqualified" Audit Report'  when we know that few weeks ago we have been informed that Goldman Sachs increase (and the decrease) his position in Steinhoff up to 3%?

So it seem that big Instututions are already able to buy Steinoff shares despire the lack of a Qualified Report.

 

Thank you to clarify me this pont!

T

[Everlearning]

Ja Tiekkie I agree!

My sense is that Institutional and Funds will not be able to invest until they have an "Unqualified" Audit Report which as things stand will only be at the end of this financial year (Sept 2021). This would be huge as they are normally in for the long run and would mop up the 'loose' shares trading daily.

 

Anyway, we just got to hang in there and ride the waves!

[Tiekkie]

DayTraderDad, on 03 Mar 2021 - 11:07 AM, said:

https://www.onvista....dhoch-438404311

The furniture retailer Steinhoff as well as the IT security company Secunet and the personnel management software provider Atoss are therefore expected back in the SDax

I hope the local institutions will see the light and start looking at the company again.

[DeltaHedge]

Sleepwa123, on 03 Mar 2021 - 10:53 AM, said:

Volumes aren't that low considering its already the same as the whole of yesterday's volume on the JSE.

 

Any guesses as to why its moved like this today?

 

where are you reading your volume from ? IG giving me wrong info then.

[Sleepwa123]

Thanks DTD.

 

I see the changes are effective 22 March so not long to wait.

[DayTraderDad]

Sleepwa123, on 03 Mar 2021 - 10:58 AM, said:

I see some references to a possible inclusion into the S-Dax to be announced tonight.

As I understand it, this would push up demand because index funds would need to include Steinhoff in their portfolio.

https://www.onvista....dhoch-438404311

 

The furniture retailer Steinhoff  as well as the IT security company Secunet and the personnel management software provider Atoss are therefore expected back in the SDax 

[Sleepwa123]

I see some references to a possible inclusion into the S-Dax to be announced tonight.

As I understand it, this would push up demand because index funds would need to include Steinhoff in their portfolio.

[Sleepwa123]

Volumes aren't that low considering its already the same as the whole of yesterday's volume on the JSE.

 

Any guesses as to why its moved like this today?

 

[Tiekkie]

DeltaHedge, on 03 Mar 2021 - 09:51 AM, said:

such low volume but 7 percent up

I wish I can understand these markets.Lol

[DeltaHedge]

Tiekkie, on 03 Mar 2021 - 08:54 AM, said:

German prosecutors set to announce charges against former top Steinhoff executives https://www.news24.c...utives-20210303

such low volume but 7 percent up