South African property market plummets (on fears of Steinhoff-like exposé)

The Johannesburg Stock Exchange’s South African property index fell 8.2% on Thursday.

The losses may be because of rumours that one of the listed property companies will be Viceroy Research’s next victim.

Viceroy Research is an independent US research group, famed for its prescience into the Steinhoff debacle.

The Money Show’s Bruce Whitfield interviewed Old Mutual Investment Group Portfolio Manager Evan Robins.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

The volatility we see makes Bitcoin look tame!

Evan Robins, Old Mutual Investment Group

The companies that have been affected have balance sheets that aren’t terrible.

Evan Robins, Old Mutual Investment Group

There’s no evidence… it’s as simple as that.

Evan Robins, Old Mutual Investment Group

When fears were allayed the market relaxed a bit.

Evan Robins, Old Mutual Investment Group

I haven’t seen this level of volatility in my career.

Evan Robins, Old Mutual Investment Group

If it’s all just noise, it’s a great buying opportunity.

Evan Robins, Old Mutual Investment Group

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This article first appeared on 702 : South African property market plummets (on fears of Steinhoff-like exposé)


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