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Op Dinsdag 5 Desember 2017 was die Steinhoff-groep nog R199 miljard werd. Vier en twintig uur later is meer as R160 miljard daarvan uitgewis. Die Steinhoff-sakeryk, wat oor 20 jaar tot ’n internasionale sakereus opgebou is, het oornag verkrummel.
Markus Jooste, Steinhoff se flambojante grootbaas, het per SMS bedank en vlug sedertdien van die een na die ander geraamte wat uit sy kas val: tientalle spoghuise vir ’n blonde minnares, resiesperde, bewerings van bedrog en ’n blinkswart Jaguar vir ’n ou universiteitskoshuis.
Wat presies het hier gebeur? Wie het wat geweet? Wat is Steinhoff, wie is Markus Jooste en wat het dit met die sogenaamde Stellenbosch-mafia te doen? Hoe pas Christo Wiese, Shoprite en Pepkor in en waarheen is die pensionarisse se geld? Die bekende sakeskrywer James-Brent Styan beantwoord dié en ander vrae in hierdie verstommende verhaal van die grootste finansiële ineenstoring in die geskiedenis van Suid-Afrika.
Deur onderhoude met betroubare bronne, inligting uit vertroulike dokumente en in- dieptenavorsing oor Steinhoff se geskiedenis, onthul hy dít wat die groep oor jare probeer wegsteek het.
Steinhoff en die Stellenbosse Boys is ’n boeiende sakeriller wat nog dekades lank in sowel raadsale as sitkamers oorvertel sal word.
On 5 December 2017 the Steinhoff group was still worth R199 billion. Twenty four hours later more than R160 billion of this fortune was wiped out. The Steinhoff Empire which took 20 years to build into an international business giant, had crumbled overnight.
Markus Jooste, Steinhoff’s flashy CEO, resigned via SMS and has since been fleeing an avalanche of scandals and accusations: luxury homes for a blonde mistress, allegations of fraud, racing horses and unparalleled extravagance, a lavish, black Jaguar for an old university residence...
What exactly happened here? Who knew what? What is Steinhoff, who is Markus Jooste and what does it all have to do with the so called Stellenbosch mafia? Where does business tycoon Christo Wiese, Shoprite and Pepkor fit in and where is the pensioners’ money?
Well-known financial writer James-Brent Styan unpacks these and other questions in this astounding tale of power and greed, of secrets and deceit, and ultimately the biggest financial breakdown in the history of South Africa.
Through interviews with trustworthy sources, revelations from confidential documents and in-depth research about Steinhoff’s history, Styan uncovers what the group doesn’t want you to know.
Follow the Money: The story of Steinhoff, Markus Jooste and the Stellenbosch Boys is a gripping financial thriller that will be told as cautionary tale or salacious scandal in both boardrooms and living rooms for decades to come.
Corporate Finance: A South African perspective second edition takes a fresh principles-based approach to the study of financial management. It is aimed at second and third-year students following courses in financial management in BCom or BBusSc degree programmes.
The book explains financial management concepts and practice in an accessible and concise way, while supporting students with plenty of practice examples and illustrations of real-life application.
Corporate Finance features:
Created by the continuous feedback of a "student-tested, faculty-approved" process, CFIN4 delivers a visually appealing, succinct print component, tear-out review cards for students and prep cards for instructors, and a consistent online offering with CourseMate that includes the new MindTap Reader eBook in addition to a set of interactive digital tools including self quizzes, extra problems for practice, downloadable flash cards, quizzes and more--all at a value-based price and proven to increase retention and outcomes. CourseMate for CFIN4 also provides additional online resources such as material on Ethical Dilemmas, to stimulate thought-provoking class discussion. Integrative Problems pull together concepts from each chapter and allow instructors to guide students through a step-by-step process, and apply what they have learned within the chapter to solve realistic business problems.
The second edition of Corporate Governance In South Africa addresses the changes in the corporate governance landscape in South Africa brought about by the King IV Report on Governance for South Africa, 2016 and changes to several international codes.
Corporate Governance In South Africa covers the following areas: the corporate governance framework in South Africa, comparisons with various international corporate governance frameworks, and contemporary governance issues. The book also offers a corporate governance implementation guide.
Examples of failed corporate governance practices, both local and international, are provided throughout the book, seeking to illustrate the importance of effective corporate governance practices by companies.
With an insider's view of the mind of the master, Mary Buffett and David Clark have written a simple guide for reading financial statements from Buffett's successful perspective. They clearly outline Warren Buffett's strategies in a way that will appeal to newcomers and seasoned Buffettologists alike. Inspired by the seminal work of Buffett's mentor, Benjamin Graham, this book presents Buffett's interpretation of financial statements with anecdotes and quotes from the master investor himself. Destined to become a classic in the world of investment books, Warren Buffett and the Interpretation of Financial Statements is the perfect companion volume to The New Buffettology and The Tao of Warren Buffett.
This authoritative and accessible investment classic promises rare insight into what it really takes to run money in a top-performing investment fund. Anthony Bolton, the UK's most successful stock market investor, tells the story of his contrarian approach to managing money. He provides invaluable lessons on the factors that really matter in picking a stock: the need to identify good managers, how to run a portfolio, the importance of value investing, reading charts and how to trade successfully.
This introductory business finance text covers five major areas: corporate objectives, strategic corporate development, financial strategy, mergers and acquisitions, and strategic financial management. Adopting a unique 'business life cycle' approach, it explores financial approaches and techniques in the context of a business' life stage - whether it is young and growing, at its peak, or in decline.
Were you looking for the book with access to MyFinanceLab? This product is the book alone, and does NOT come with access to MyFinanceLab. Buy Essentials of Corporate Financial Management with MyFinanceLab access card, 2/e (ISBN 9780273759027) if you need access to the MyLab as well, and save money on this brilliant resource. Essentials of Corporate Financial Management supports courses designed to cover the core topics of finance in 15 to 30 hours of lectures. The book is suitable for undergraduate students studying finance as part of a business related degree, MBA students, and others studying finance at business schools. It also provides the foundation elements needed by students going on to study more advanced finance. The step-by-step learning approach enables students to achieve a high level of financial knowledge without assuming a prior knowledge of finance. Selected core topics and key concepts are delivered with depth, allowing students to gain an understanding of the topical debates within this field, where disagreement or alternative perspectives lead to lively discussion. Need extra support? This title can be supported by MyFinanceLab, an online homework and tutorial system which can be used by students for self-directed study or fully integrated into an instructor's course. This product is the book alone, and does NOT come with access to MyFinanceLab. You can benefit from MyFinanceLab by speaking to your local Pearson Account Manager about setting up a version that is customised to suit your course via www.pearsoned.co.uk/replocator For educator access, contact your Pearson Account Manager. To find out who your account manager is, visit www.pearsoned.co.uk/replocator
Securities lending master agreements are vital for covering securities loans between contracting parties. They also offer legal and credit protection and a close-out netting procedure if a party defaults or goes bankrupt. These agreements are widely used by banks, securities houses, pension funds, hedge funds and insurance companies. ""
"Mastering Securities Lending Documentation" is a practical guide to understanding the negotiation of these master agreements used in the United Kingdom, United States and Europe. It is an essential handbook for anyone involved in negotiating these agreements and includes: An introduction to the history and operations of the market A clear, user-friendly explanation of all paragraphs of the master agreements An easy-to use split page format with the original text and commentary Examples of commonly negotiated additions and amendments and their implications Answers to legal, risk and operational questions
Published by the International Swaps and Derivatives Association, the 1992 and 2002 ISDA(R) Master Agreements are the main contracts used in the over the counter global derivatives market. "Mastering the ISDA Master Agreements" provides a practical, clear and useful guide to help understand and negotiate these Master Agreements.
This revised and updated edition is an essential handbook for anyone involved in negotiating agreements, from financial institutions through to fund managers, law firms, credit officers, regulators and business students. The new edition includes:
The ISDA Mater Agreements are complex documents and it can take up to two years to become proficient in negotiating and understanding their key elements. "Mastering the ISDA Master Agreements" provides a detailed overview of the legal, credit and operational issues inherent in the ISDA Master Agreements.
The book includes:
Acquisitions are one of the most powerful tools in the business armoury, but they can also be positively dangerous. Conducting thorough due diligence is one of the most effective ways to reduce the risk involved in acquisition and investment, and to improve the chances of success. Due diligence is a term traditionally used for the review process applied to an acquisition. In recent times, the practice has evolved substantially and the level of detail and analysis now possible allows companies to take better development decisions.Well conducted due diligence can help a transaction to proceed smoothly, and can even enable companies to find ways of adding value to acquisitions and other partnerships. Any transaction is highly risky - at least 50% of acquisitions fail and numerous other partnerships end in disappointment and acrimony. Due diligence is the essential step to taking the risk out of deals and business partnerships. This book is a concise, comprehensive guide to the process, containing practical advice, accessible analysis, and case studies.
Fundamentals of Corporate Finance helps students develop the intuition and analytical skills necessary to effectively apply financial tools in real-world decision-making situations. The authors provide a fully integrated framework for understanding how value creation relates to all aspects of corporate finance; whether it be evaluating an investment opportunity, determining the appropriate financing for a business, or managing working capital. This unique and integrated framework also provides robust coverage of problem solving and decision-making skills.
"Uses a combination of great stories and thoughtful analysis to suggest that we must find a way to change the purpose of our corporations if we are to build a society that works for all of us. Rebecca M. Henderson, John & Natty McArthur University Professor at Harvard University "Fresh, balanced, highly readable and deeply informed" John Pepper, former Chairman and CEO of P&G "Thought-provoking and insightful, Accountable offers a pragmatic and original roadmap to transform capitalism into a system that's more inclusive, sustainable, and just." Dr. Rajiv J. Shah, President of The Rockefeller Foundation Capitalism is failing and the tools we are relying on to fix it - corporate social responsibility, divestment, impact investing, and government control - are only making things worse. -Chevron boasts about the $50 million per year it spends on renewable energy whilst it spends 200 times that on oil exploration -Goldman Sachs touts its 10,000 Women initiative but its board ranks 358th out of the Fortune 500 for gender diversity and women earn 55% less than men do on average By focusing on corporations rather than people, we've put our faith in empty trends and brand-focused window-dressing. Why should those responsible for our current crisis be trusted to fix it? In Accountable, authors Michael O'Leary and Warren Valdmanis offer a blueprint for everyone to take responsibility for using their economic power as consumers, as investors, as employees, and as voters to trigger a fundamental shift away from an economy that is unethical, unfair, and destructive to our environment and institutions. Their investigation cuts through the tired dogma of current economic thinking to reveal a hopeful truth: if we can make our corporations accountable to a deeper purpose, we can make capitalism both prosperous and good. Trenchant and gripping, this is an indispensable guide and call to action for citizens to take control of our economic power and hold corporations to a higher standard.
Communicate your company's commitment to growing its market value
Fundamentals of Corporate Finance, 3rd Edition by Robert Parrino, David Kidwell, and Thomas Bates develops the fundamental concepts underlying corporate finance in an intuitive manner while maintain a strong emphasis on developing computational skills. The authors believe that students who understand the intuition underlying the basic concepts of finance are better able to develop critical judgments necessary to apply financial tools in real decision-making situations. The Third Edition offers a level of rigor that is appropriate for both business and finance majors and presents the content in a manner that all students find accessible and engaging.
We live in the age of big companies where rising levels of power are concentrated in the hands of a few. Yet no government or organisation has the power to regulate these titans and hold them to account. We need big companies to share their power and we, the people of the world, need to reclaim it. In Competition is Killing Us, top business and competition lawyer Michelle Meagher establishes a new framework to control capitalism from the inside in order to make it work for the many and not just the few. Meagher has spent years campaigning against these multi-billion and trillion dollar mammoths that dominate the market and prioritise shareholder profits over all else; leading to extreme wealth inequality, inhumane conditions for workers and relentless pressure on the environment. In this revolutionary book, she introduces her wholly-achievable alternative; a fair and comprehensive competition law that limits unfair mergers, enforces accountability and redistributes power through stakeholder governance. With an afterword by Simon Holmes, Member of the UK 's Competition Appeal Tribunal, Academic Visitor at the Centre for Competition Law and Policy, Oxford University
"An incisive history of the venture-capital industry." -New Yorker "An excellent and original economic history of venture capital." -Tyler Cowen, Marginal Revolution "A detailed, fact-filled account of America's most celebrated moneymen." -New Republic "Extremely interesting, readable, and informative...Tom Nicholas tells you most everything you ever wanted to know about the history of venture capital, from the financing of the whaling industry to the present multibillion-dollar venture funds." -Arthur Rock "In principle, venture capital is where the ordinarily conservative, cynical domain of big money touches dreamy, long-shot enterprise. In practice, it has become the distinguishing big-business engine of our time...[A] first-rate history." -New Yorker VC tells the riveting story of how the venture capital industry arose from America's longstanding identification with entrepreneurship and risk-taking. Whether the venture is a whaling voyage setting sail from New Bedford or the latest Silicon Valley startup, VC is a state of mind as much as a way of doing business, exemplified by an appetite for seeking extreme financial rewards, a tolerance for failure and experimentation, and a faith in the promise of innovation to generate new wealth. Tom Nicholas's authoritative history takes us on a roller coaster of entrepreneurial successes and setbacks. It describes how iconic firms like Kleiner Perkins and Sequoia invested in Genentech and Apple even as it tells the larger story of VC's birth and evolution, revealing along the way why venture capital is such a quintessentially American institution-one that has proven difficult to recreate elsewhere.
The maths, the formulas, and the problems associated with corporate finance can be daunting to the uninitiated, but help is at hand. Corporate Finance For Dummies, UK Edition covers all the basics of corporate finance, including: accounting statements; cash flow; raising and managing capital; choosing investments; managing risk; determining dividends; mergers and acquisitions; and valuation. It also serves as an excellent resource to supplement corporate finance coursework and as a primer for exams. Inside you ll discover: * The tools and expert advice you need to understand corporate finance principles and strategies * Introductions to the practices of determining an operating budget, calculating future cash flow, and scenario analysis - in plain English * Information on the risks and rewards associated with corporate finance and lending * Easy to understand explanations and examples * Help to pass your corporate finance exam!
For courses in corporate finance or financial management at the undergraduate and graduate level. Excel Modeling in Corporate Finance approaches building and estimating models with Microsoft(r) Excel(r). Students are shown the steps involved in building models, rather than already-completed spreadsheets.
Jim Paul's meteoric rise took him from a small town in Northern Kentucky to governor of the Chicago Mercantile Exchange, yet he lost it all -- his fortune, his reputation, and his job -- in one fatal attack of excessive economic hubris. In this honest, frank analysis, Paul and Brendan Moynihan revisit the events that led to Paul's disastrous decision and examine the psychological factors behind bad financial practices in several economic sectors.
This book -- winner of a 2014 Axiom Business Book award gold medal -- begins with the unbroken string of successes that helped Paul achieve a jet-setting lifestyle and land a key spot with the Chicago Mercantile Exchange. It then describes the circumstances leading up to Paul's $1.6 million loss and the essential lessons he learned from it -- primarily that, although there are as many ways to make money in the markets as there are people participating in them, all losses come from the same few sources.
Investors lose money in the markets either because of errors in their analysis or because of psychological barriers preventing the application of analysis. While all analytical methods have some validity and make allowances for instances in which they do not work, psychological factors can keep an investor in a losing position, causing him to abandon one method for another in order to rationalize the decisions already made. Paul and Moynihan's cautionary tale includes strategies for avoiding loss tied to a simple framework for understanding, accepting, and dodging the dangers of investing, trading, and speculating.
When partnerships change hands, the valuation of intangible assets can be a financial maze. This in-depth book, working through each of the basic valuation approaches: cost, market, and income, provides professionals with complete guidelines and industry standards. Its a must-have for financial analysts and attorneys!
Focus on the financial concepts, skills, and technological applications that are most critical for MBA students in today's workplace with Ehrhardt/Brigham's CORPORATE FINANCE: A FOCUSED APPROACH 5E. The text provides an in-depth treatment of essential corporate finance topics within a streamlined presentation that can be completed in a single semester. With its relevant and engaging presentation and numerous examples, students will learn the latest financial developments as they also learn how to maximize a firm's value in today's changing business world. Students will master the many features and functions of spreadsheets with chapter Excel Tool Kits, Build a Model problems, and Mini Cases that encourage "what-if" analysis on a real-time basis. Students will also gain hands-on experience using Thomson ONE Business School Edition, which gives students access to the same Thomson Reuters Financial database that business professionals use every day. As part of its comprehensive product package, Ehrhardt/Brigham's CORPORATE FINANCE: A FOCUSED APPROACH 5E includes CengageNOW and the best-selling Aplia Finance as optional learning solutions that complement the book's focused presentation of corporate finance fundamentals, support course needs and outcomes, and help students become "First in Finance.""
SHORTLISTED FOR THE FT AND MCKINSEY BUSINESS BOOK OF THE YEAR AWARD 2019 NEW YORK TIMES AND SUNDAY TIMES BUSINESS BESTSELLER 'Reads more like a delicious page-turning novel...Put it on your holiday gift list for your favourite hedge-fund honcho' Bloomberg 'A compelling read' Economist 'Captivating' New York Times book review Jim Simons is the greatest moneymaker in modern financial history. His record bests those of legendary investors, including Warren Buffett, George Soros and Ray Dalio. Yet Simons and his strategies are shrouded in mystery. The financial industry has long craved a look inside Simons's secretive hedge fund, Renaissance Technologies and veteran Wall Street Journal reporter Gregory Zuckerman delivers the goods. After a legendary career as a mathematician and a stint breaking Soviet codes, Simons set out to conquer financial markets with a radical approach. Simons hired physicists, mathematicians and computer scientists - most of whom knew little about finance - to amass piles of data and build algorithms hunting for the deeply hidden patterns in global markets. Experts scoffed, but Simons and his colleagues became some of the richest in the world, their strategy of creating mathematical models and crunching data embraced by almost every industry today. As Renaissance became a major player in the financial world, its executives began exerting influence on other areas. Simons became a major force in scientific research, education and Democratic politics, funding Hilary Clinton's presidential campaign. While senior executive Robert Mercer is more responsible than anyone else for the Trump presidency - he placed Steve Bannon in the campaign, funded Trump's victorious 2016 effort and backed alt-right publication Breitbart. Mercer also impacted the success of the Brexit campaign as he made significant investments in Cambridge Anatlytica. For all his prescience, Simons failed to anticipate how Mercer's activity would impact his firm and the world. In this fast-paced narrative, Zuckerman examines how Simons launched a quantitative revolution on Wall Street, and reveals the impact that Simons, the quiet billionaire king of the quants, has had on worlds well beyond finance.
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