@RogueInvestor

Investment Observer.

[@RogueInvestor @RogueInvesto]

@GamingGrifter @WeBuyCars_SA @WeBuyCars_SA are getting hammered. No wonder the stock is dropping faster than a bag of bricks in a pond.

[@RogueInvestor @RogueInvesto]

@FinancialMail @ChrisRoper Its because someone else has to pay for the human right.

[Albie Cilliers @albie_cilliers]

Reinet, run by Rupert "the Bear", keeps chasing investors away. Latest NAV up less than 1% while the MSCI World Index gained 12.5%. Reinet keeps significantly under performing a passive index, as it did for the past 18 years ...

[@RogueInvestor @RogueInvesto]

“Not only does this raise the question of what they’re hiding, but it also makes a mockery of our access to information laws if you can’t use it to get even this basic information about share trades.”

[@RogueInvestor @RogueInvesto]

@RobRose_ Is asking the @JSE_Group all the right questions...
https://t.co/1mXUkH0Jl0

[@RogueInvestor @RogueInvesto]

“The @JSE_Group has deliberately tried to delay this case right from the start, and has now come up with the most obtuse arguments.”

[@RogueInvestor @RogueInvesto]

"JSE fights to protect its largest broker..." Fixed it for you. https://t.co/AuNEOQgsm2 via @currencynewsza @GTalevi @JSE_Group

[@RogueInvestor @RogueInvesto]

@Investec selling shares without a mandate. Sounds like another broker I know of.

[Albie Cilliers @albie_cilliers]

If your broker is Investec, and you used to own RMH shares, take note of the following :

I heard that Investec screwed up and sold some, or all of their non-discretionary client's RMH shares in the AttBid offer of 47c. That's why they had to buy back 1.2 million shares in the market last week because one of these clients demanded his RMH shares back as he did not give an instruction to accept the offer ... Remember, per the circular, if you did not give an explicit instruction to your broker to accept the offer, the default was to keep your RMH shares. If Investec sold your RMH shares without instruction, you can demand that they buy your RMH shares back.

[@RogueInvestor @RogueInvesto]

@karynmaughan He's a communist for goodness sake. What do you expect? For him to be decent and step aside?

[@RogueInvestor @RogueInvesto]

@JSE_Group Looks the other way, all the time.

[Artur Nadolny @ArturNadol7566]

THE MAN THEY JAILED TO SAVE THE BANKS

Tom Hayes @robilypj spent five and a half years in prison. He lost his marriage, his career, and a decade of his life. The Serious Fraud Office called him the ringmaster of a global conspiracy. The judge gave him 14 years to send a signal to the City.

The signal the City received was: make sure it's a trader who goes down, not a bank.

Libor is the interest rate that banks used to report daily, forming a benchmark that underpinned roughly 350 trillion dollars worth of loans and financial products globally. Hayes, a derivatives trader at UBS and Citigroup, was convicted in 2015 of nudging his bank's Libor submissions in directions that benefited his trading positions.

His own bosses knew. Senior bank officials were doing the same thing at a far larger scale. The Bank of England was implicated in secret recordings. None of that made it into the jury's deliberations in any meaningful way.

In July 2025 the UK Supreme Court unanimously quashed his conviction. The jury had been misdirected by the trial judge, the court found. Hayes had been denied a fair trial. The SFO said it would not seek a retrial.

That last part is doing a lot of work. Because a retrial would require actually prosecuting the case properly. Which would mean the jury hearing about the senior bank executives. And the central bank. And the regulators who looked away. And that is apparently not in the public interest.

BBC journalist Andy Verity @andyverity spent years documenting exactly this. His 2022 Radio 4 podcast The Lowball Tapes and his 2023 book Rigged laid out the evidence that the direction to push rates down was coming from the top of the financial system, not from one trader in Tokyo. The Criminal Cases Review Commission referred Hayes's case back to appeal shortly after publication. Journalism, doing the job regulators refused to do.

Hayes has since sued UBS for 400 million dollars, alleging the bank deliberately fed false information to prosecutors and used him as a scapegoat to protect senior executives and reduce its own regulatory penalties. UBS declined to comment.

One trader jailed. Fourteen billion dollars in fines distributed across the global banking system. Zero senior executives prosecuted. One BBC journalist who read the documents everyone else ignored. That is the complete ledger of accountability for the biggest interest rate fraud in financial history.

Sources: Bloomberg @Bloomberg, BBC @BBC (Andy Verity @andyverity), Guardian @guardian, CNN @CNN, Fortune @FortuneMagazine, Fox Business @FoxBusiness and many others

[@RogueInvestor @RogueInvesto]

@Advocacy_AmaB

"Another case where we are grinding through the 180 period is a matter where the Johannesburg Stock Exchange has indicated its intention to review the IR decision to grant access to certain stock trades, over which the JSE asserts blanket confidentiality.

In this case we have indicated our intention to join the court review as a friend of the court as Inhlanhla Ventures (not us) was the original requesting party, but we view the blanket secrecy the JSE attaches to trading data as being problematic – and an open invitation for bad actors to manipulate the market."

@JSE_Group

[@RogueInvestor @RogueInvesto]

@ZenzoLusengo @Moneyweb @WarrenC_ZA #awkward

[@RogueInvestor @RogueInvesto]

Craig Butters has something to say about Enx and its management. When he talks, you should listen.

Remember #Steinhoff?

https://t.co/3hILcgHLTb

[@RogueInvestor @RogueInvesto]

At the recent Enx AGM a reasonable question about a R15m indemnity payment was shut down. @WarrenC_ZA and enx CEO #RobertLumb commented in the @FinancialMail article. There is nothing in their comments that addresses the concerns that were raised. Why won't Enx investigate the sequence of transactions impacting the R15m indemnity paid on behalf of Paul Baloyi's company? At the time, Baloyi was the Enx chairman. Absent a credible explanation, the optics look terrible.

[@RogueInvestor @RogueInvesto]

What is @JSE_Group hiding?

[Albie Cilliers @albie_cilliers]

Securities trading occurs in a public arena, and related information may well be disclosable in response to a legitimate PAIA request.

Non-compliance with an enforcement notice is an offence and can result in a fine of up to R10-million or imprisonment, or both https://t.co/jVDADSExpT

[@RogueInvestor @RogueInvesto]

South Africa’s Muslim population is only three percent, but the country is almost an Iranian client https://t.co/Hx62muDNd4

"Another key player in South Africa’s ruling mafia is Pandor’s brother, Zolani Kgosietsile “Kgosie” Matthews, an independent executive director at enX Group and Zarclear Holdings. Matthews was formerly the Group Chief Executive Officer at the Passenger Rail Agency of South Africa and Chairman of the Ports Regulator. He held other sensitive government-related positions and was the executive chair of the now-defunct Thea Laboratories, once one of the biggest companies in South Africa. Most importantly, he was councilor of South Africa’s Independent Communications Authority at the peak of the MTN telecom scandal, when the communications giant was accused of paying bribes to the Taliban and Al Qaeda.

MTN faced terror charges over being suspected of facilitating attacks in Iran and Afghanistan. The security scandal, however, was only the tip of the iceberg for MTN, which also had to pay billions in fines to Nigeria over violations involving failure to disconnect unregistered users from Nigeria’s network. MTN retained the services of the Obama administration’s former Attorney General, Eric Holder, to defend themselves. Matthews’ meteoric rise and ability to evade accountability speaks to South Africa’s systemic institutional corruption."

[@RogueInvestor @RogueInvesto]

@ginnydmm Put down the phone. Unplug the air fryer. Disconnect the WiFi. Take off the duvet cover and the feather pillow. No more KFC.