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Community


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Online Share Trading

Engage and learn about markets and trading online

Christo Wiese

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Mark_A
Occasional Contributor
Hi all, I know he's a director but has anyone got any idea why SA's wealthiest man is buying truck loads of this share?
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7 REPLIES 7
SimonPB
Valued Contributor
he's worth around R40-50billion, so for him this is petty cash ..
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rsalie
Super Contributor
probably the 0.01% of his portfolio that he gambles with. PGL has been promising alot for a long time and ppl are still waiting for it to deliver. It has been trading at a massive discount to it's NAV for ages ... that says it all.
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partridge
Super Contributor
Proportionately a couple(?) of day's earnings?? - this is legacy investment stuff.
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Blik
Super Contributor
It might be petty cash, but Oom Christo didn't get rich by making bad calls, no matter how cheap. Rich people tend to be cautious with their cash IMHO. Maybe banking on something good from Gilbertson.
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partridge
Super Contributor
Rich people also make bad calls ( plus some very average ones - like Tradehold???? ) - those now selling the Big Issue as a result of these calls will confirm bad calls come form all quarters.... that said - read for example what the Economist 2014 survey says about commodities( +TIVE) - and luxury goods
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Blik
Super Contributor
True - but I guess my point was that the issue shouldn't be whether the money is petty cash or not, it should be whether it is a good decision or not. I personally think there might be something there, so I have bought a little chunk....we will see. I am not very clever, but am hoping this is a clever move!
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Creature_of_the
Super Contributor
somebody just bought over 3million shares just now????.
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