15225 replies to this topic

[DayTraderDad]

Haha no need for handle to keep tears from POMPERS!!!! Remember just sell only 50% so you only get half of the hiding. HAHAHA what a bunch of fools!!!

Forgot to mention that was POLLY the TROLL great advise!!!

[DayTraderDad]

Yes share forgot to make a handle   Will close gap.

Haha no need for handle to keep tears from POMPERS!!!! Remember just sell only 50% so you only get half of the hiding. HAHAHA what a bunch of fools!!!

[Lionelza1]

Haha Lionel you miles behind the curve. I told you before taker a course on day trading you might learn something.
You still trading with a system that prices are 15 min delayed.
There is nothing wrong taking profit on 2 or 3 cents its the percentage that matters.!!! You make me laugh!!!

Sheesh.... I would tell u to go read the threads..... But u don't even know how to read properly

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[DayTraderDad]

Hilarious ain't it.. Sure u don't pay attention to this thread, sure ur not invested, for all I know u pumped before the dump hey... your style is still the same, ur spelling still sucks, still wanting to know from Polly what's going up etc

Its easy to change alias and move on ain't it... Atleast DTD confirmed his alias change.. Anywayz not interested in what you say... this should open around R1. 84 2morrow, my avg R1. 80 so I'm still green... Not sure for how long tho and yes I do pay attention to what market does and how it reacts to info... U should too

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Lionel keep me out of your POMP system you way behind my league only fools run around the JSE with a POMP!!!

[DayTraderDad]

good , bad or evil??
 
See EOH what they did...
Why not through the provable kitchen sink and write most if not all off?  Oh forgot they will then be technically insolvent if they do...BUt they are arent they??
Is management still playing games to prevent the inevitable and prolong the agony? Id day a big YES!!
 
Was this the PS decision alone or has the auditors agreed to this? We will soon find out...

EOH hiding still coming keep a good eye on the state capture and the PIC enquiries. You going to get seriously shocked!!! Especially when the pay the money back scenario comes in play!!

[DayTraderDad]

Sure dear... U blurt out all your useless trades on Pollys thread... U buy and sell after 2-3c and believe ur making good profits.. Go pull out ur calculator and see who's making money... U or ur broker

I would like to call u one of Snippys cons but I cant, I think the only person ur conning is urself

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Haha Lionel you miles behind the curve. I told you before taker a course on day trading you might learn something.
You still trading with a system that prices are 15 min delayed.
There is nothing wrong taking profit on 2 or 3 cents its the percentage that matters.!!! You make me laugh!!!

[Lionelza1]

Yes share is trending upwards see daily chart. I think Polly also mentioned it.

OK thanks

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[Milo]

Yea it did not forget to make handle, it got hammered due to that sens...and I still cannot understand markets reaction, is it short term speculation?

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Yes share is trending upwards see daily chart. I think Polly also mentioned it.

[Lionelza1]

Yes share forgot to make a handle Will close gap.

Yea it did not forget to make handle, it got hammered due to that sens...and I still cannot understand markets reaction, is it short term speculation?

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[Polly]

 

As you may have gathered from the rhetoric on this platform, there is a very sharp disagreement on the matters relating to the Steinhoff  Balance sheet.  There is significantly less dispute on the Income Statement.  

 

 

What ever disagreement  settled on anything in the balance sheet has to go through the income statement , above  or below the line...but still has to go through!!! ( other side of entry)  Be it intangible or goodwill assets write offs and even overstated/understated income , false fictitious revenues , etc...Only thing that wont go through income statement is any contingent liabilities!!

 

If your referring to future clean earnings thats still a bone of contention . The whole supply chain has been effected , stigma of doing business with this company again, higher cost of borrowings , all those daily professional fees , specialist salaries and the big factor to consider...Cost of future restructuring which im sure you know doesnt come cheap...

 

PS : dont worry , long enough here to tell you no one has ever got sued here for giving opinions / views be it right or wrong...and its all free so no need to to register with FSB . Just telling for a friend here who was concerned.......

 

 

( although Snapit did come in as a clown  alias to threaten a few guys saying he was from FSB)     

[Milo]

Getting hammered!!!

 

Yes share forgot to make a handle   Will close gap.

[Captainfrom82]

Thanks. Goodwill and intangible... Not the only contributor to value. This is accounting packaging. This value in itself is somewhat difficult to assess and not absolute. Interesting to see a conservative amount and more interesting that this is not zero. Question... If this is the value in 2017, could the subsequent year 2018 result in an increase of the value or would it be static. Be good to get a sense of the balance sheet with all inputs pre and post restructuring...

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It reminds me of the old joke about there only being two types of people in the world...those who can extrapolate from an incomplete data set...

 

As you may have gathered from the rhetoric on this platform, there is a very sharp disagreement on the matters relating to the Steinhoff  Balance sheet.  There is significantly less dispute on the Income Statement.  This is useful, because many of us internationally believe that the Steinhoff valuation and thus the share price correction, will come from the earnings.   Incidentally, within the Steinhoff circles, many of the senior people share this sentiment.

 

Regarding the true value, I have posted before that I am a value investor (and typically use the NAV as a margin of safety).  However, from time to time using a NAV is not really a true reflection.  For retail companies, this is usually the case (look at Pick & Pay, SHoprite, Spar, Clicks or Dis-Chem - they all trade at a multiple of their NAV).  For Steinhoff, the company is actually trading to a discount to the NAV.  This in itself should point to something.

 

I do not think that the FY18 or for that matter the FY19 financials will reflect too much info on their Balance Sheets.  We may see a significantly different picture on the FY20 Balance Sheet when the broader Steinhoff restructuring actually manifests physically and is represented accordingly on the books.  This is especially relevant to the MF and Confo structures.

 

THE ABOVE IS MY OWN OPINIONS AND IS NOT INVESTMENT ADVICE.  IN SOUTH AFRICA, I AM NOT A REGISTERED FSP

 

 

Best Regards

Captainfrom82

[Investment novice]

The Mattress Firm Impairment refers:

On the Balance sheet three years are reflected (as they have to due to IAS Restatement procedures), 1H18, 1H17 as well as unaudited estimated FY2017

On the Goodwill reported, the values for Mattress Firm is E1b, E2.7b and E1b respectively for each year. The Mattress Firm impairments were excluded from the 1H17 Goodwill, but had been factored in after 1H17 onto the unaudited estimated FY17 and the 1H18 financials.

Best Regards
Captainfrom82

Thanks. Goodwill and intangible... Not the only contributor to value. This is accounting packaging. This value in itself is somewhat difficult to assess and not absolute. Interesting to see a conservative amount and more interesting that this is not zero. Question... If this is the value in 2017, could the subsequent year 2018 result in an increase of the value or would it be static. Be good to get a sense of the balance sheet with all inputs pre and post restructuring...

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[Captainfrom82]

IN I still am very positive on SNH but I am also a realist and bad news seems to knock the share for a 6 even though it was already expected.

Even now the NAV is still E0.46 or R7.37 and still generating cash with its business so don't be guided by charts or technical analysis SNH trades simply and purely in sentiment with lots of people shorting.

I found it amazing this morning people were talking technicals and I just could not believe it that's why I said the formation of the cup in the graphs was to catch the tears of the pumpers.

SNH will recover again once the final restructure is in place!

 

The Mattress Firm Impairment refers:

 

On the Balance sheet three years are reflected (as they have to due to IAS Restatement procedures), 1H18, 1H17 as well as unaudited estimated FY2017

 

On the Goodwill reported, the values for Mattress Firm is E1b, E2.7b and E1b respectively for each year.   The Mattress Firm impairments were excluded from the 1H17 Goodwill, but had been factored in after 1H17 onto the unaudited estimated FY17 and the 1H18 financials. 

 

Best Regards

Captainfrom82

[Midas1]

Paranoia,,thinking others winning or loosing more than you. my nav tells me balance up..concern yourself with own balance

[Lionelza1]

Some kind paranoia.

Sure dear... U blurt out all your useless trades on Pollys thread... U buy and sell after 2-3c and believe ur making good profits.. Go pull out ur calculator and see who's making money... U or ur broker

I would like to call u one of Snippys cons but I cant, I think the only person ur conning is urself

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[Midas1]

Some kind paranoia.

[Lionelza1]

Think he takes something at night..keeps saying ms jet or something to me...but he rants and roars illogically at night ...saw one night went for all contributors like looney..oniously put homself in financial corner. anyway not bothered re snh so not bothered what hes ranting about..im doing commodoties for now

Hilarious ain't it.. Sure u don't pay attention to this thread, sure ur not invested, for all I know u pumped before the dump hey... your style is still the same, ur spelling still sucks, still wanting to know from Polly what's going up etc

Its easy to change alias and move on ain't it... Atleast DTD confirmed his alias change.. Anywayz not interested in what you say... this should open around R1. 84 2morrow, my avg R1. 80 so I'm still green... Not sure for how long tho and yes I do pay attention to what market does and how it reacts to info... U should too

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[Polly]

Think he takes something at night..keeps saying ms jet or something to me...but he rants and roars illogically at night ...saw one night went for all contributors like looney..oniously put homself in financial corner. anyway not bothered re snh so not bothered what hes ranting about..im doing commodoties for now

MS J relax....

[Polly]

So we get 7.2 billion euro audited intangible assets. Not too bad as I'm sure they have used the lower end of the valuation.

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good , bad or evil??

 

See EOH what they did...

Why not through the provable kitchen sink and write most if not all off?  Oh forgot they will then be technically insolvent if they do...BUt they are arent they??

Is management still playing games to prevent the inevitable and prolong the agony? Id day a big YES!!

 

Was this the PS decision alone or has the auditors agreed to this? We will soon find out...