Resilient and the 65-day EMA
The tactic employed by overseas short-sellers to take a short position in a well-traded share, publish a damning report and then close out the short position for a substantial profit is not exclusive to Viceroy. Our own 36ONE Asset Managers have done the same with the Resilient group of companies (including NEPI, Greenbay and Fortress), claiming that the company only achieved its impressive market rating
Capitecs PEG
The badly researched report on Capitec by Viceroy has left the share trading at a significant discount. Following its immensely successful criticism of Steinhof, Viceroy's report on Capitec was underwhelming to say the least.
Capitec's CEO and many analysts have come out in strong support of the share - saying there is nothing wrong with its business model or its management of its delinquent loan
Wall Street’s Correction
The correction which is taking place on Wall Street has now reached 10% - and it may go further. The JSE Overall index is down and will fall further to bring it into line with Wall Street. Other world markets are following suit. For the private investor, the key consideration is whether this is the start of a new bear trend or simply a correction and a buying opportunity. When thinking about this, you should consider that
Viceroy and Capitec
The second Viceroy report on Capitec Bank may be a miscalculation. It is difficult to tell. On the face of it, there is nothing wrong with Capitec. It is extremely well-managed, strongly capitalised and has its parent company, PSG, and the South African Reserve Bank to support it. But can you be certain? The extraordinary events of 26th, 29th and 30th January are typical of the type of difficulty