15225 replies to this topic

[DayTraderDad]

 

Typical Warren has all the answers yet not anywhere does he mention investing is a risk and one can possibly loose all your money!!  The very basic disclaimer in any broker house.He also fails to mention the reason why a share price drops because the experts dump the share then start crying the company has committed fraud.. Also failed to explain that the EBITDA is not the same as before EPS ( due to so many unknowns still to be established together with contingent liabilities))still much the same yet investors were happy to pay R60 ( before the fraud)which would put a big PE yet rule number one don't buy a share with high PE.( thats why afs is being restated as P/E was overstated and price now much much lower. Price of share  now targeting  a negative p/e)

 

Yes now negative because of all the restructuring and paying for the investigation costs which is a once off. Try for once to look past the negativity and read the piece from Seeking Alpha which puts it very clear.

[DayTraderDad]

every one has an angle...everyone has a view....respect!!!

 

seeing with one eye only can have disastrous consciences...

Yes you correct if you think Jooste is the only one in the world of finance then think again (even big names like GE also caught up with fancy accounting) the most corruption exists because accountants and expert lawyers allow it just take a look at the Panama papers that Warren makes reference and try to understand how all that happened?? So called experts of legal and accounting back ground putting all the deals together for the rich. Where was Warren when lots of people long time ago were saying they could not understand the SNH financials because were too complicated! At that time everybody was pumping up SNH. As far as I remember in South Africa one is innocent until proven guilty yet these journalist already had their court and charge!! Warren should not mention SNH he should focus  on Jooster because all is doing is continuing with the negative propaganda against SNH which itself is a victim. So just spend a minute and think about it!

[Polly]

Typical Warren has all the answers yet not anywhere does he mention investing is a risk and one can possibly loose all your money!!  The very basic disclaimer in any broker house.He also fails to mention the reason why a share price drops because the experts dump the share then start crying the company has committed fraud.. Also failed to explain that the EBITDA is not the same as before EPS ( due to so many unknowns still to be established together with contingent liabilities))still much the same yet investors were happy to pay R60 ( before the fraud)which would put a big PE yet rule number one don't buy a share with high PE.( thats why afs is being restated as P/E was overstated and price now much much lower. Price of share  now targeting  a negative p/e)

Edited by Polly, 28 January 2019 - 11:28 AM.

[Polly]

every one has an angle...everyone has a view....respect!!!

 

seeing with one eye only can have disastrous consciences...

[DayTraderDad]

   

Ya neh.....listened to the first 5min...laughable....sometimes these journalists pushes boundaries unknown to them...and sometimes they shud just stfu....let them run a business and lets see where they take it to....probably to the gutters in no time.

still have faith in this share...we just gotta see how much damage babbas friend caused.

Typical Warren has all the answers yet not anywhere does he mention investing is a risk and one can possibly loose all your money!!  The very basic disclaimer in any broker house.He also fails to mention the reason why a share price drops because the experts dump the share then start crying. Also failed to explain that the EBITDA is still the same as before EPS still much the same yet investors were happy to pay R60 which would put a big PE yet rule number one don't buy a share with high PE.

[Lionelza1]

 

https://ewn.co.za/20...gs-by-steinhoff

 

Ya neh.....listened to the first 5min...laughable....sometimes these journalists pushes boundaries unknown to them...and sometimes they shud just stfu....let them run a business and lets see where they take it to....probably to the gutters in no time.

still have faith in this share...we just gotta see how much damage babbas friend caused.

[Tom]

https://ewn.co.za/20...gs-by-steinhoff

[DayTraderDad]

Friday and steinhoff.... Grown to be a love hate relationship... Will today bring anything?

I am not expecting much movement the volumes very low the rise in Frankfurt is more due to Rand strength.

[Lionelza1]

Friday and steinhoff.... Grown to be a love hate relationship... Will today bring anything?

[DayTraderDad]

Good view: https://www.4investo...stock&ID=130294

[Tom]

yea all markets could be in the red but if market was interested in todays sens issue they wouldve pumed it right?

 

butttttt....patience right? 

 

Probably because most investors believe that this debt restructuring means that the debt interest rate will be restated from 5% to 10%, which translates to 1 billion Euro a year, and that this is too much for Steinhoff who is burdened by many other operational and huge coming legal and regulatory costs, and that this means slow poison for Steinhoff, and eventually the creditors will squeeze all money they can squeeze from Steinhoff, and so nothing will be left for the share-holders.

Edited by Tom, 22 January 2019 - 08:15 PM.

[DayTraderDad]

yea all markets could be in the red but if market was interested in todays sens issue they wouldve pumed it right?

 

butttttt....patience right? 

I have noted that when there is no special news pending SNH follows the DAX index. Today's sense was more informative to comply with the LUA then news. Volumes also relatively low

[Lionelza1]

Haha Lionel no pumping today all markets in the red.

yea all markets could be in the red but if market was interested in todays sens issue they wouldve pumed it right?

 

butttttt....patience right? 

[DayTraderDad]

Haha thanks cappy yea I hold my own view.

Whether you use words such as "inextricably" or "complexity" etc etc etc, does not change the fact that steinhoff USELESS management is NOT DELIVERING on their promises, and we have seen how market responds when that happens right?

Most of what we await is extremely dependant on the findings and yea I get that it is a huge challenge for them, I also get the fact that they are dependant on other service providers to get the info they await. So then why on earth are they allowing this share to trade? as it is useless snh management that has the power to selfsuspend this share right?

"The Company currently anticipates publishing its Group audited financial statements for 2017
and 2018 by 18 April 2019, subject to any delay caused by the challenge to the SEAG CVA."

Subject to any delay caused...that's a worry, so why not suspend this share until they sort out their mess?

Your response is however noted

So much for today's pump haha eish

Haha Lionel no pumping today all markets in the red.

[Lionelza1]

Haha thanks cappy yea I hold my own view.

Whether you use words such as "inextricably" or "complexity" etc etc etc, does not change the fact that steinhoff USELESS management is NOT DELIVERING on their promises, and we have seen how market responds when that happens right?

Most of what we await is extremely dependant on the findings and yea I get that it is a huge challenge for them, I also get the fact that they are dependant on other service providers to get the info they await. So then why on earth are they allowing this share to trade? as it is useless snh management that has the power to selfsuspend this share right?

"The Company currently anticipates publishing its Group audited financial statements for 2017
and 2018 by 18 April 2019, subject to any delay caused by the challenge to the SEAG CVA."

Subject to any delay caused...that's a worry, so why not suspend this share until they sort out their mess?

Your response is however noted

So much for today's pump haha eish

[DayTraderDad]

Good day DayTraderDad,

 

I agree on the broader view that you seem to hold regarding the survival and sustainability of Steinhoff.  I also mostly agree on the reasons that you have articulated.

 

I do not however, necessarily hold the view that on 29 April 2019 (now confirmed by Steinhoff as 18 April 2019).

 

My reasons for saying this is that the sillier side of the market may react negatively to the (once off) loss that the company will declare (mostly due to the enormous impairments and corrections that are required to reverse the accounting irregularities).

 

I do however see the share price recovering significantly post this announcement all the way to 2022.

 

Best Regards

Captainfrom82

For me the PwC results, the Financials of 2017 and 2018 because a lot is already known so not expecting any surprise. The value I find in SNH which for me will put the share back on the R20's or even R30's is the final financial restructuring. The reality is the EBITDA at present is much the same as it was before the collapse of the share in Dec 2017 so the cash flow is there so the only thing to sort is the settlement of the debt. 

This is how I see the road ahead to R20:

In view that the CVA is designed to change the convertible bonds into ordinary loans means that the loans can be settle with selling part of each unit. I believe that PEPCO Europe, Greenlit Brands in Australia and Conforama each will be either listed or privately owned but 49% shareholding will be sold/exchanged for present debt very much like Mattress Firm. This will leave SNH a holding company with 51% holding and possibly no debt and ready for future growth.

 

[Captainfrom82]

DayTraderDad really dude? I am assuming u are invested in this share..... So this useless management tells u on 29th April u will be given Financials of the company right? So u invest more or u hold but u have a huge expectation because it's YOUR money.... Come 29th April they say sorry we underestimated we will now release 40th August.... Then Mr Market moers this share and it drops 40%....

DUDE your investment is then fckd! And u want to talk to me about complexity? *** that sh¡t.... If these useless ouks can't deliver then get some1 in who can.... Klaar!

 

Hi Lionelza1,

 

I believe that you are conflating issues.  In other words, this is my opinion - you are welcome to your own.

 

Steinhoff has provided estimated dates for the audited FY financials.  Obviously this is inextricably connected to the PwC report and findings. 

 

There are two keys issues that have to be dealt with, viz; a) substantive issues; and procedural issues.  Both of these factors have to be completely satisfied in order for the PwC report to have credibility and for action to be taken.  This is standard procedure, and this is NOT up the Steinhoff.  The sooner that you are able to realise this, you may be a little less emotional about it.

 

Ever heard of the expression that the wheels of justice may grind slowly, but they grind exceedingly fine?

 

Best Regards

Captainfrom82

[Captainfrom82]

Haha yes lets see share price at present only reflecting sentiment with lots of speculation but lets talk again 29th April and see if I did my homework or not.

 

Good day DayTraderDad,

 

I agree on the broader view that you seem to hold regarding the survival and sustainability of Steinhoff.  I also mostly agree on the reasons that you have articulated.

 

I do not however, necessarily hold the view that on 29 April 2019 (now confirmed by Steinhoff as 18 April 2019).

 

My reasons for saying this is that the sillier side of the market may react negatively to the (once off) loss that the company will declare (mostly due to the enormous impairments and corrections that are required to reverse the accounting irregularities).

 

I do however see the share price recovering significantly post this announcement all the way to 2022.

 

Best Regards

Captainfrom82

[DayTraderDad]

Important dates... 28feb2019 Q1 update, 18april afs 2017,2018

A "little" informative sens.... Let the pump begin?????

For me there are a few items of importance:

1 - "As the challenge periods have now expired,no further challenges are permitted." This is good news the only challenge is the LSW all other creditor still on board.

2 - "at 14 December 2018 the total sum owed to LSW (inclusive of interest and costs) amounted to approximately €291.4m." Actual debt is half of the €582 m.

3 - "Pepkor Europe (including Poundland) business continues to benefit from strong levels of liquidity" - This business continue to show growth.

4 - "Mattress Firm is self-supporting following the emergence from chapter 11" - Good to know MF still running without life support.

So the only business still needing attention is Conforama

[Lionelza1]

https://www.sharenet...seq=1&scode=SNH