VICEROY RESEARCH: Rumour rules the market
Speculation about who the New York-based research firm will target next has fuelled panic selling of SA stocks
Shouting "fire" in a crowded theatre is guaranteed to cause a panicked scramble for the exits. The JSE now has its own equivalent: Viceroy Research. New York-based Viceroy, which comprises a team of only three people, bills itself as something of a white knight fighting for the rights of shareholders. It declares: "As global markets become more opaque and complex, and traditional gatekeepers and safeguards often compromised, investors and shareholders are at greater risk than ever of being misled or uninformed by public companies and their promoters and sponsors."Viceroy proved its point in spectacular style with Steinhoff. It released a research report shortly after the global retailer’s December 6 announcement that the release of its 2017 results had been delayed indefinitely, pending a probe into accounting irregularities. The damning report runs to 37 pages and is impressively thorough. And it raises the issue of why at least some aspects of the many irregularities revealed in t...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.