triage Posted December 9, 2017 Share Posted December 9, 2017 Great pick-up jacsar. It looks like Steinhoff is a South African company but also listed on the German bourse. And yeah it looks like it was German regulations that may have flushed out dodgey accounting practices. Here is a Bloomberg piece: they talk of US$21 billion in debt being at risk. https://www.bloomberg.com/news/articles/201...scandal-deepens Link to comment Share on other sites More sharing options...
blacksheep Posted December 9, 2017 Share Posted December 9, 2017 Nasty. Looks like Steinhoff"s auditors are being looked at - "Steinhoff International auditors must be investigated" https://www.iol.co.za/business-report/da-st...igated-12313443 German prosecutors still probing Steinhoff for possible accounts fraud https://www.fin24.com/Companies/Retail/germ...-fraud-20171207 Link to comment Share on other sites More sharing options...
blacksheep Posted December 12, 2017 Share Posted December 12, 2017 Seems Viceroy Research - activist shorter - may have been responsible with this report on Steinhoff - https://viceroyresearch.files.wordpress.com...le-viceroy2.pdf Viceroy were responsible for a couple of damaging reports on ASX listed companies. More recently they've been running a campaign against MiMedx - that's been quite ugly http://www.valuewalk.com/2017/12/steinhoff...xt/amp/Viceroy/ Link to comment Share on other sites More sharing options...
alonso Posted March 12, 2018 Share Posted March 12, 2018 NAB > WBC. Well I never. Link to comment Share on other sites More sharing options...
nipper Posted March 12, 2018 Share Posted March 12, 2018 price-wise, yep NAB is $30.40 whlie WBC closed today at $30.26 Number of shares on issue tell a different story for Market Cap. : $82.37bn vs $102.43bn But yes, Westpac has had two periods of comparative weakness; in the last year, but not following Half Yearlies, rather than when Quarterlies announced, it has underperformed, ....and down 14.1% vs NAB's 7.85% for 12 months Link to comment Share on other sites More sharing options...
alonso Posted March 12, 2018 Share Posted March 12, 2018 It's still about $3 down on when I sold it over a year ago although it has moved about a bit. Link to comment Share on other sites More sharing options...
blacksheep Posted April 5, 2018 Share Posted April 5, 2018 Great cartoon from David Row AFR On a more sobering note, noticed short positions on the big 4 have now broken through the $5 billion mark, and that's to 27 March 2018 https://www.shortman.com.au/market Link to comment Share on other sites More sharing options...
blacksheep Posted April 18, 2018 Share Posted April 18, 2018 noticed short positions on the big 4 have now broken through the $5 billion mark, and that's to 27 March 2018 Now $5.5 billion as at 11 April 2018 and rising - THE BIG FOUR BANKS (ANZ, CBA, NAB, WBC) https://www.shortman.com.au/market Link to comment Share on other sites More sharing options...
nipper Posted April 20, 2018 Share Posted April 20, 2018 Things are getting rough out there in Fractional Banking and Ticket Clipping Land. The Royal Commission is landing a few punches! Link to comment Share on other sites More sharing options...
triage Posted April 20, 2018 Share Posted April 20, 2018 In an ideal world some of these banking executives would get jail-time, some of the regulator bosses would be sacked and their agencies be totally reworked and a couple of political bods would suffer career-ending setbacks. For instance I don't know how Scott Morrison in good conscience can remain as Treasurer given how hard and long he fought not to have the royal commission. But we live in an era of no consequences so I'm guessing none of the above will eventuate. Hopefully at some stage the rc rips right into the massive money laundering industry that has been allowed to develop in Australia but it would be too much to ask for it to also look into how the financial services sector and the regulators have allowed thousands of established Australian residential properties be illegally acquired and owned by foreigners. Link to comment Share on other sites More sharing options...
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