348 replies to this topic

[Polly]

R1.64 is now line in sand..

 

If breaks on a closing basis today i will short to R1.00

[Polly]

from a tweet from Karin Richards

 

1/ Steinhoff 2017 accounts are a mess. All 329 pages of it. Appears that: • 2015 + 2016 write-offs amount to €11.4bn (R185bn). See below. • Plus 2017 impairments: €3.9bn (R63bn). See next tweet. TOTAL: €15.3bn (R248bn)

 

 

2/ Steinhoff impairments for 2017: €3.9bn (R63bn) are shown below. Please refer to prior tweet for 2015/16 and Total.

 

 

3/ SNH: There does not appear to be very much left of Steinhoff, with Owners' Equity at only €0.9bn. Net borrowings amount to €8.8bn - almost 10 times owner's equity. And this does not include contingent claims or further losses to flow from the 2018 result

 

4/ Steinhoff: More than 40% of total assets is still made up of intangibles (€7.2bn) even after the huge impairments.

 

5/ Steinhoff: There are 3 full pages of cryptically described contingent claims. I am not game to try and figure out a total value, but Bloomberg puts it at €6.2 bn, more than half of which is from Christo Wiese.

 

 

 

My conclusion..market is actually very kind in pricing it at R2.00..abso;ute no value in thsi share!!

[Lionelza1]

could agree with you more..

Lots of others as well....never listened...

But sorry to say you and other suckers didnt listen...All got caught in the in that Guru frenzy pumping some historical numbers and nav... Now you pay the price..

IN hindsight without the gurus pumping with all big talk and sales pitch will you have bought????

They completely misinfomed you guys and i have been saying that for ages...With all there insults , name calling and character assassination , i stood firm....They never moved me...that was there intention.. I was the guy they needed taken out...
And check yesterdays insults...Like they made the right call and price going to go up...How stupid can one be??

have you finger on trigger today...This is going to get whacked..

I have a target of R1.00..not today but very soon..

had a look at Frankfurt PS chart last night....Got whacked on high volume...

If my bottom trendline breaks , means clever money dumping...Join the crowd then..


Did you see the PS thread... All happy and again saying ohh expected and from now base and restructuring going forward and all according to grand plan of things by management.. From 2017 to 2018 afs can only get worse....and again promise no audit opinion.. and Claims for Africa hanging in thin air...

Well news for them...No grand plan...PS forced to do all this " grand Plan" without a choice...Just to survive... Everything for sale at moment...besides Pepkor ( Wiese lay your hands off that or)

Hi P.... No I ain't listening to those cakes... I just got greedy!!!

But I made up my mind to sell this useless thing when I can... Truelly a waste of my time!!!!!!!!

[Polly]

Was not a easy decision to hold yesterday P

I'm wasting my time on this one, getting caught up with all the wadda wadda etc.. Losing focus off my own business!

could agree with you more..

 

Lots of others  as well....never listened...

 

But sorry to say you and other suckers didnt listen...All got caught in the in that Guru frenzy pumping some historical numbers and nav... Now you pay the price.. 

 

IN hindsight without the gurus pumping with all big talk and sales pitch will you have bought????  

 

They completely misinfomed you guys and i have been saying that for ages...With all there insults , name calling and character assassination , i stood firm....They never moved me...that was there intention.. I was the guy they needed taken out...

And check yesterdays insults...Like they made the right call and price going to go up...How stupid can one be??

 

have you finger on trigger today...This is going to get whacked..

 

I have a target of R1.00..not today but very soon..

 

had a look at Frankfurt PS chart last night....Got whacked on high volume...

 

If my bottom trendline breaks , means clever money dumping...Join the crowd then..

 

 

Did you see the PS thread... All happy and again saying ohh expected and from now base and restructuring going  forward and all according to grand plan of things by management.. From 2017 to 2018 afs can only get worse....and again promise no audit opinion.. and Claims for Africa hanging in thin air...

 

Well news for them...No grand plan...PS forced to do all this " grand Plan" without a choice...Just to survive... Everything for sale at moment...besides Pepkor ( Wiese lay your hands off that or)

[Polly]

live price...down 6% in Germany to .1165

[Lionelza1]

guys dont get carried away with then pumpers use of trade gate and other stuff..These are bucket shop operators offering over the counter shares.. Joker man said up 20% on Trade gate...True maybe but he knows niks about investing..Will you trust a over the counter operator share price? Of cos not..only punters and gamblers trade their...volumes negligible.

Big funds etc will only use proper channels to trade..Via there Stock exchange..

bet this one gets banged 15/20% there today!! and tomorrow we break that vital bottom trend line....Sorry L i called you to closed..should listened...

back to R1.00 here imo.....

Was not a easy decision to hold yesterday P

I'm wasting my time on this one, getting caught up with all the wadda wadda etc.. Losing focus off my own business!

[Polly]

guys dont get carried away with then pumpers use of trade gate and other stuff..These are bucket shop operators offering over the counter shares.. Joker man said up 20% on Trade gate...True maybe but he knows niks about investing..Will you trust a over the counter operator share price? Of cos not..only punters and gamblers trade their...volumes negligible.

 

Big funds etc will only use proper channels to trade..Via there Stock exchange..

 

bet this one gets banged 15/20%  there today!! and tomorrow we break that vital bottom trend line....Sorry L i called you to closed..should listened...

 

back to R1.00 here imo.....

and then you have Mr HAHA trying to use tradegate to arbitrage trade it in SA...what a hoax , fraudster and liar...

 

You will lose money everyday doing that!!

[Polly]

guys dont get carried away with then pumpers use of trade gate and other stuff..These are bucket shop operators offering over the counter shares.. Joker man said up 20% on Trade gate...True maybe but he knows niks about investing..Will you trust a over the counter operator share price? Of cos not..only punters and gamblers trade their...volumes negligible.

 

Big funds etc will only use proper channels to trade..Via there Stock exchange..

 

bet this one gets banged 15/20%  there today!! and tomorrow we break that vital bottom trend line....Sorry L i called you to closed..should listened...

 

back to R1.00 here imo.....

[Polly]

Don't bother about them P, their noise is meaningless, overinvested!

Market starting to knock share down.... And it is Mr Market who I will be paying attention to as that's where my money lies... also value your views/experience and knowledge on Mr Market

yeah i got 2 on ignore..juts added the 3rd now....

[Lionelza1]

typical boys typical....the insults and name calling by the 3 musketeers continues... Deeper signs of a losing battle to take thier frustrations out elsewhere

Again another sens ( afs) and they call it at good and well....Actually feel sorry for the other okes that get caught up in here...

But they deserve what they getting....

Crooked in hook line and sinker...

and still fishing for more....

Enough for today....Lets see what tomorrow brings

Don't bother about them P, their noise is meaningless, overinvested!

Market starting to knock share down.... And it is Mr Market who I will be paying attention to as that's where my money lies... also value your views/experience and knowledge on Mr Market

[Polly]

Standing in queue and googling stuff

So an unqualified audit report is good
Qualified audit report not good
I do not find anything on NO Opinion?

 

No opinion means :

 

Not worth the paper its typed on!!! 

[Polly]

typical boys typical....the insults and name calling by the 3  musketeers continues... Deeper  signs of a losing battle to take thier frustrations out elsewhere

 

Again another sens ( afs) and they call it at good and well....Actually feel sorry for the other okes that get caught up in here...

 

But they deserve what they getting....

 

Crooked  in hook line and sinker...

 

and still fishing for more....

 

Enough for today....Lets see what tomorrow brings

[Lionelza1]

Basis for disclaimer of opinion isn’t flash...

One of them is material uncertainty related to going concern.

Thanks LK... Interesting times

[LarryK]

Basis for disclaimer of opinion isn’t flash...

One of them is material uncertainty related to going concern.

[Lionelza1]

Standing in queue and googling stuff

So an unqualified audit report is good
Qualified audit report not good
I do not find anything on NO Opinion?

[LarryK]

MJ was paid more than €2000,000 in bonuses during 2017
And look at all the money the board members got paid.
CW was paid €300,000 for 2017, for what?

[Lionelza1]

Eeehhh... No audit opinion so u guys saying that NOVEL that steinhoff published is going to be received as kak by Mr Market?

[Matrix]

Geez excuse me guys i didnt sleep a wink last night...had to see the afs and read every word...heavily invested here...

 

darn why did they finally publish....

 

 

NOT!!!! 

 

 

Thanks for the update Marix...only thing i wanted top know is the opinion....and hit on head..NO OPINION!!

 

L u missed the boat...smashing time!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

from a 2 legged doped thoroughbred horse to a one legged one now!!

 

 

You're welcome Polly.

Will be interesting to see what the market does with this.

I was previously heavily invested in SNH, but got out at R2.70 at a huge loss when I noticed I don't have any experience with investing, and know nothing...

 

What I do understand however is AFS compilation and auditing, and technically the figures mean zero as the auditors express no opinion on it. 

But almost more concerning is that the issues stated cannot be resolved before 18 June when 2018 is released, hence that will also be Disclaimer of opinion. 

 

This surely is an interesting study case!

[Polly]

company is technically insolvent , going concern problem , virtually bankrupt... How could any Auditor ever issue an opinion.. 

 

Only the fools where thinking that way!!

[Polly]

Geez excuse me guys i didnt sleep a wink last night...had to see the afs and read every word...heavily invested here...

 

darn why did they finally publish....

 

 

NOT!!!! 

 

 

Thanks for the update Marix...only thing i wanted top know is the opinion....and hit on head..NO OPINION!!

 

L u missed the boat...smashing time!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

from a 2 legged doped thoroughbred horse to a one legged one now!!