What Did You See PWC?

  Market Scorecard It is finally here, the PWC report on the fraud at Steinhoff was released on Friday evening. The full 3 000 page report is not publicly available, but the 10 page executive report can be downloaded from the company webpage here - PWC Forensic Investigation into Steinhoff. The report goes as far … Continue reading What Did You See PWC?

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Steiniversary

  Market Scorecard Today marks a year since Steinhoff blew up, I (Michael) remember the morning clearly. We heard news overnight that the directors had a meeting in Germany and that Markus Jooste had stepped down as CEO. The whole Vestact team was in early to discuss what to do next. The decision was taken … Continue reading Steiniversary

  To market to market to buy a fat pig. Yesterday the S&P 500 hit another record. No not another record high but the most number of days without a 3% drawdown. The previous record was 241 days and was set in 1996. It is amazing how calm markets have been this year. In years … Continue reading