VICEROY
Shock report reveals Steinhoff nemesis Viceroy's feet of clay
'The quality seems to fluctuate from detailed and coherent valuation models … to reports that rely on anecdotes and ad hominem attacks'
Viceroy, which burst onto the public scene after its report in December flagged irregularities at disgraced retailer Steinhoff International, plagiarised its way to influence. The short-seller, which was founded by a British former social worker, is little more than a communications agent for a number of hedge funds who profited from the negative publicity it generated, according to a report commissioned by Business Leadership SA (BLSA). BLSA felt it necessary to commission the report on short selling as "part of our broader role of facilitating an understanding of how our financial markets operate in the era of fake news", CEO Bonang Mohale said in an interview with Business Day on Wednesday. Methods and agenda The business lobby, whose members include some of the biggest names in corporate SA, hired research company Intellidex to investigate Viceroy’s methods and agenda. The firm has been accused of using its research to destabilise companies in which it had taken so-called short ...
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