It had financial problems, and the price they offered was amassive premium on the...
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It had financial problems, and the price they offered was a
massive premium on the underlying value. It raised a lot of eyebrows, and it seemed like he wanted to
enter the US market at all costs. And in many ways it
didn't make sense. And at that stage the share price
actually started also to decline from the highs it hit 2014/15, and it steadily
declined from there. This is what tipped off a number of
the more alert investors to the fact that Steinhoff clearly wasn't pursuing
a rational investment philosophy
massive premium on the underlying value. It raised a lot of eyebrows, and it seemed like he wanted to
enter the US market at all costs. And in many ways it
didn't make sense. And at that stage the share price
actually started also to decline from the highs it hit 2014/15, and it steadily
declined from there. This is what tipped off a number of
the more alert investors to the fact that Steinhoff clearly wasn't pursuing
a rational investment philosophy
Full Transcript
00:00:01.000 --> 00:00:02.679
It had financial problems,
00:00:02.068 --> 00:00:08.032
and the price they offered was a
massive premium on the underlying value.
00:00:08.321 --> 00:00:10.032
It raised a lot of eyebrows,
00:00:10.321 --> 00:00:14.056
and it seemed like he wanted to
enter the US market at all costs.
00:00:14.561 --> 00:00:17.281
And in many ways it
didn't make sense.
00:00:17.801 --> 00:00:22.999
And at that stage the share price
actually started also to decline
00:00:22.041 --> 00:00:26.032
from the highs it hit 2014/15,
00:00:26.321 --> 00:00:28.121
and it steadily
declined from there.
00:00:29.081 --> 00:00:32.088
This is what tipped off a number of
the more alert investors to the fact
00:00:32.881 --> 00:00:37.032
that Steinhoff clearly wasn't pursuing
a rational investment philosophy.
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Movie Summary
The biggest corporate scandal in South African history, the fall of Steinhoff led to a loss of R200 billion. Steinheist untangles the story: the investors who were taken in; the victims and the CEO, Markus Jooste, who's still a fr...
