Casual investor and annoying commentator
Joined February 2023
- Tweets 6,360
- Following 93
- Followers 453
- Likes 2,368
21 Photos and videos
26 Nov 2024
I saw on a thread that someone posted about @smalltalkdaily having access to and trading on inside information. Here's another admission from him - it's pretty damning. @fscasouthafrica @JSE_Group
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22 Nov 2024
Willem Roos (of Outsurance fame) putting his money to work in We Buy Cars at these prices... sjoe
sharenet.co.za/jsepdf/SENS_2…
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22 Nov 2024
What's the best trading platform in SA? Have been using Sharenet and it's gone kak. What is similar and better?
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22 Nov 2024
Lewis Group - $JSELEW "Since the commencement of the..share repurchase..in 2017, the Group has bought back 36.7 million shares at a cost of R1.3 billion and an average price of R35.96 per share." Share currently R77, up 98% ytd. Excellent reimagining of a low quality business.
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Creditable Investor retweeted
21 Nov 2024
Monetary policy is far too restrictive in SA . The cost of capital is far too high - businesses hire people . It’s not rocket science. We need rate cuts and 25bps won’t cut it
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19 Nov 2024
Reminder that Goldrush Holdings $GRSP (formerly RACP) is in breach of its debt covenants. @pietviljoen
"the dividend cover ratio was 1.19 times and...the covenant was in breach. Absa agreed to waive their right to enforce early redemption as a result of the covenant breach".
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31 Oct 2024
TymeBank @tymebankza
An analysis.
Without shareholder support, TymeBank is insolvent.
At 30 June 2024, the Bank had accumulated losses of R7 059 429 760 (SEVEN BILLION). The loss for the year was R330 108 666.
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31 Oct 2024
"Ubuntu Botho Investments continues to provide "assurance" that the Bank will have access to continued capital and funding to be able to settle its debts as they fall due and be able to continue business as a going concern for the period ending 31 October 2025."
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31 Oct 2024
Non-executive directors took home R9.5 MILLION in fees in 2024. There are 7 non-execs...
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31 Oct 2024
As well as a nice little IT relationship with EOH Mthombo Proprietary Limited dailymaverick.co.za/article/…
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31 Oct 2024
Never mind the R175m in consulting and professional fees (excluding salaries) that the bank incurred in 2024.
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31 Oct 2024
Coen and Co were also able to buy shares in TymeBank at a discounted price. Nice deal if you can get it.
"The shares were sold at a price that was deemed to be at a discount to their fair value and a share-based payment expense was recognised by the Bank."
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31 Oct 2024
They also decided to "update" ECL methodology. "The Merchant Cash Advance (MCA) product, which was
based on a payment recency definition, was not fully
appropriate. This led to an understatement of the ECLs in the prior period." @tymebankza
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31 Oct 2024
The financial statements: "The ability of the Bank to continue as a going concern is dependent on ongoing procurement of capital and funding for the operations of the Bank."
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31 Oct 2024
The former CEO Coen Joenker was incentivised to raise capital for the bank through African Fig Investments. He made millions doing so - clearly a conflict of interest.
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31 Oct 2024
On a customer base of 9.6 million, @tymebankza has only advanced R117 million in loans. The average deposit per client is R670.
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