Steinhoff share price crash big time

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Expilot
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Steinhoff share price crash big time

Unread postby Expilot » Wed Dec 06, 2017 9:47 pm

Christo Wiese just lost R30 billion in the last couple of days!!
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Re: Steinhoff share price crash big time

Unread postby cage » Wed Dec 06, 2017 9:50 pm

Boo frikken Hoo.. somehow he will cope.
Think of the other lesser investors.
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Re: Steinhoff share price crash big time

Unread postby JCA » Wed Dec 06, 2017 10:38 pm

Bitcoin next?
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Re: Steinhoff share price crash big time

Unread postby jandub » Thu Dec 07, 2017 10:02 am

One article I've seen: "Arme Christo Wiese het die afgelope paar dae meer as R30 miljard verloor en sy aandeel in Steinhoff het tot ongeveer R19 miljard gedaal" WTF! ARME Christo Wiese my <<moderated - language>>, like Cage said, I am sure he will survive.

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Re: Steinhoff share price crash big time

Unread postby Redmoon » Thu Dec 07, 2017 10:58 am

I wonder if it has anything to do with some of th “Big Cheeses” buying heavy equipment
? Share holders can’t be happy.
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Re: Steinhoff share price crash big time

Unread postby wasabi » Thu Dec 07, 2017 11:09 am

Hope your and my pensions aren't invested in SHF......likely they are.
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Re: Steinhoff share price crash big time

Unread postby Spoke Eagle » Thu Dec 07, 2017 11:25 am

Then on the counter; local Rustenburger bought Steinhoff bigtime last night and sold early this morning. Made 3,2 bar over night :D
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Re: Steinhoff share price crash big time

Unread postby Iceberg » Thu Dec 07, 2017 11:39 am

Spoke Eagle wrote:Then on the counter; local Rustenburger bought Steinhoff bigtime last night and sold early this morning. Made 3,2 bar over night :D

He must have sold early. It has crashed another 40% so far today!
Time to buy some?
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Re: Steinhoff share price crash big time

Unread postby PO » Thu Dec 07, 2017 11:48 am

SNH:
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Re: Steinhoff share price crash big time

Unread postby Jack Welles » Thu Dec 07, 2017 2:50 pm

Is it the right time to buy Steinhoff shares?

https://www.moneyweb.co.za/news/compani ... ns-emerge/

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Clever Alan Gray - only owned 0,2% for a loss to date of R291 million.
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Re: Steinhoff share price crash big time

Unread postby hjs » Fri Dec 08, 2017 7:47 am

If I had a choice, I would rather buy Steinhoff than Bitcoin. I fear Bitcoin is a ponzi scheme.
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Re: Steinhoff share price crash big time

Unread postby danie.e » Fri Dec 08, 2017 7:55 am

Hope the Bitcoin guru's took note. When you cook the books, the result is trash. Steinhoff at least have "some" assets that can be sold off to partially offset shareholders loss if required.

Crypto currencies only have - wait for it --------------

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NOTHING!
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Re: Steinhoff share price crash big time

Unread postby Jack Welles » Fri Dec 08, 2017 8:18 am

hjs wrote:If I had a choice, I would rather buy Steinhoff than Bitcoin. I fear Bitcoin is a ponzi scheme.

For me the real problem is a question of adequate due diligence:

<rant> when contemplating an investment (or a donation for that matter) a prudent soul should do due diligence on the target recipient. It is without due diligence that the gullible get fleeced and corruption flourishes. Due diligence cannot be performed in the absence of information. If one doesn't know exactly who is doing what, how the financials are structured, where is the recipient located, are they appropriately registered etc etc, then one cannot conduct a due diligence </rant>

Given that, it is interesting to see that a prudent financial manager like Alan Gray had substantially reduced its holding in Steinhoff and lost (currently) R290 million, of Govt monies the Govt Employees Pension Fund alone is (currently) down R12,5 billion. Guess who did adequate due diligence and who didn't?

The same applies the Bitcoin. But even as a personal punt I need to do due diligence and I cannot get my head around who owns what? Who controls the largest quantity of Bitcoin? Who owns the exchanges where Bitcoin is traded? How secure are the "vaults" where the Bitcoin is housed? How much more Bitcoin can still be mined? etc etc.

Without full information there can be no due diligence. Without adequate due diligence the gullible get fleeced and corruption flourishes.
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Re: Steinhoff share price crash big time

Unread postby PO » Fri Dec 08, 2017 10:33 am

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Re: Steinhoff share price crash big time

Unread postby Expilot » Fri Dec 08, 2017 6:45 pm

Chris



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