766
Patrick - how is your system going to handle the Woolworths nil paid letters, can we take up to, what we have as a balance in our accouts?
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767
Shares / Re: Metair. Titan or Titanic?
« on: September 24, 2014, 09:21:46 pm »
Yup - I'm still holding as well. Not sure why the market has hammered them, as the results were acceptable. HEPS was down 16% but this is only as a result of them issueing shares to buy Mutlu Turkey - they issued 46.4 million shares. Also seems that best results are the 2nd half of the year. Also in December 2013 the PIC increased its holdings in MTA to 7.112%
Methinks that investors are a fickle bunch
Hey Orca how about an update in your settling process, everything going smoothly, no more fights over water??
Methinks that investors are a fickle bunch
Hey Orca how about an update in your settling process, everything going smoothly, no more fights over water??
768
Not skelm. Fully compliant with the letter of the law
Umm.... Not actually......
Agree
770
Off topic / Re: Live chat
« on: September 09, 2014, 01:19:13 pm »
I fear a sovereign downgrade in the not too distant future - the plat mines have said it will take 18 months to get back to where they were just prior to the strikes inflation is in its moor and the rand is heading south towards R 11 again to the dollar. Just waiting for the next big labour event to tip the scales in this country
771
What is wrong Orca, I have been using the buy high sell low method for about 4 years now.Well I held on to my Pinnacle and yesterday saw my potential paper loss drop from about R 42,000 to now a more manageable R 9,000. Was going to use it as a CGT tax write down later in the year but will hold as won't get the write down was anticipating
772
Shares / Re: African Bank
« on: August 17, 2014, 07:01:02 pm »
At least he is honest about it - the aNC have been doing this since 1994 but just haven't been bold enough to say it as it is 
773
Shares / Re: African Bank
« on: August 17, 2014, 02:16:43 pm »
This whole fiasco with African Bank can only be seen as diabolical.
What is going to be moved into the "good bank" - African Bank did not run a retail banking operation so they have little or no deposits from the general public. The lending policy of the bank was doomed from inception, however they followed the noise made by government to lend to the mass market, their failing - they got no protection guarantees from government to cover them for this eventuality
If there was any upside I doubt whether Coronation would have dumped almost 70% of their holdings on Thursday and Friday. I can't recall in my 40 years in banking of any bank that has been put into curatorship or even more recently business rescue that has come out of the wringer frsh and clean and ready to go banking again.
The biggest unknown is who was buying up the dumped Coronation shares and other fund managers who were getting themselves out of the pickle at any cost. I also think the PIC are up the creek as they did not seem to reduce their holdings.
There are constantly noises by political parties that banks should be nationalised here is an ideal opportunity for the PIC to buy the bank and then try and run it and get it out of its dilemma - but they won't goes this route because they can see any SIU is poorly managed and merely consumes tax payer monies
What is going to be moved into the "good bank" - African Bank did not run a retail banking operation so they have little or no deposits from the general public. The lending policy of the bank was doomed from inception, however they followed the noise made by government to lend to the mass market, their failing - they got no protection guarantees from government to cover them for this eventuality
If there was any upside I doubt whether Coronation would have dumped almost 70% of their holdings on Thursday and Friday. I can't recall in my 40 years in banking of any bank that has been put into curatorship or even more recently business rescue that has come out of the wringer frsh and clean and ready to go banking again.
The biggest unknown is who was buying up the dumped Coronation shares and other fund managers who were getting themselves out of the pickle at any cost. I also think the PIC are up the creek as they did not seem to reduce their holdings.
There are constantly noises by political parties that banks should be nationalised here is an ideal opportunity for the PIC to buy the bank and then try and run it and get it out of its dilemma - but they won't goes this route because they can see any SIU is poorly managed and merely consumes tax payer monies
774
Off topic / Re: Live chat
« on: August 08, 2014, 04:45:05 pm »
I tried to post yesterday but as I have a sh.t.y Telkom noisy line I couldn't and my internet is running like a horse and cart instead of a Ferrari.
I scrolled through a few peoples portfolios and was curious to find that some competitors have negative numbers of shares in their portfolio
Another curiosity is that Lunar has made about R 250,000 with sale of shares but has costs and fees of some R 113,000 yet his portfolio value is still over a million. Are fees not added/deducted from each trade one makes when buying/selling shares as is the case with conventional buying/selling through a broker
Just curious as to the mechanics of things
I scrolled through a few peoples portfolios and was curious to find that some competitors have negative numbers of shares in their portfolio
Another curiosity is that Lunar has made about R 250,000 with sale of shares but has costs and fees of some R 113,000 yet his portfolio value is still over a million. Are fees not added/deducted from each trade one makes when buying/selling shares as is the case with conventional buying/selling through a broker
Just curious as to the mechanics of things
775
Shares / Re: African Bank
« on: August 08, 2014, 10:55:53 am »
Would be interesting to know how many of the competitors had ABL in their competition portfolios, and quantity and who has taken the greatest pain from the drop in ABL's share price
Just curious
Just curious
776
Off topic / Re: Live chat
« on: August 05, 2014, 02:05:24 pm »Yeah we were told to evacuate the office.Too late - if it had been a big one
777
Off topic / Re: Live chat
« on: August 01, 2014, 03:11:00 pm »What made you by Mr Price?Not sure who this addressed to but I also bought Mr Price today - about R 64,000 worth - one of the few shares that is bullet proof at the moment
778
Shares / Re: Shares vs compound interest
« on: July 30, 2014, 10:55:06 pm »
SARS can undertake an audit of your affairs at anytime - you will be required to produce documentation, failing to supply adequate documentation could result in them treating you as a trader until you prove otherwise, there can be severe penalties as well.
There is a thread somewhere on this site where Orca went through all the tax issues some time before he left for Portugal - makes interesting reading
There is a thread somewhere on this site where Orca went through all the tax issues some time before he left for Portugal - makes interesting reading
779
Shares / Re: Shares vs compound interest
« on: July 30, 2014, 03:56:39 pm »Also forgot to mention that interest is taxed as income (after the small exemption), dividends are traced before they get to you and if you sell shares you only pay capital gains tax after R30k and is a third of income tax.The CGT only applies if you hold shares for 3 years or more - less than that and SARS could treat you as a trader and profits/losses will be treated as income for tax purposes, and if you are on a high tax threshold it could be painful
780
The Investor Challenge / Re: Shares Daily Volume
« on: July 22, 2014, 10:37:18 am »Thoughts from the rest of the competitors?Don't change the rules mid term - if the decision was made to exclude certain counters then we must live with that decision to end of competition