If ordinary people and young kids can checkmate Jooste, then we can also do it to anyone if we weren't scared.
Viceroy Research, a three-man company, was headed up to short sell dodgy stocks. It was they who published Steinhoff's dubious accounting practices. Until now, the identities of the three guys have remained anonymous as Bloomberg has revealed the founder as an ex-social worker who hired two 23-year-old Australian rookies. Perring, the founder, studied social care, law and psychology and began a career as a social worker, while dabbling in the markets. "As an investor, I had an uncanny ability to find stocks that went to zero" he said with a chuckle. The report continues why he left social care to pursue his hobby, the company's big fish catches and a story about when he dropped off his 4-year-old daughter at school in December 2016 when two men with Eastern European accents trapped him in his Audi. They threatened to harm his family unless he admitted writing extensive reports alleging wrongdoing...
Perring had already picked Mattress Firm (US) as a candidate for shorting until Steinhoff announced plans to pay a 109 percent premium to acquire the chain. The outsize bid piqued his interest in Steinhoff instead. "There were no apparent synergies that could justify the premium, so there had to be another story" he reasoned.
www.bloomberg.com/news/articles/2018-01-...to-steinhoff-triumph
Topic Author
