Lessons From Steinhoff
The loss by Coronation of R14bn in the Steinhoff debacle shows the weakness of fundamental analysis when compared with technical analysis. Altogether, mostly big institutions lost at least R200bn from the Steinhoff collapse. Coronation, taking a primarily fundamental approach, focused its analysis on predicting the probable future dividends to come out of Steinhoff - and then discounted that, using
Bitcoin Revisited
On the 8th of December last year we wrote an article on the extraordinary rise in the US dollar price of Bitcoin. We suggested that what we were looking at was an asset bubble that would inevitably burst – mainly because its chart was exponential – and that cannot be sustained. We compared it to the Tulip Mania which gripped Holland in the 17th