Dr. Hugh Akston
Hedge fund manager, long/short equity, value

A Closer Look At Harvest Natural's Improper Accounting

Our initial report on the misleading financial statements of Harvest Natural Resources (NYSE:HNR) generated a lot of buzz and questions. We were pleased that our article allowed us to connect with two other funds that share our view on HNR; however, the various questions put forth had us feeling like we left out some important data in support of our thesis. Without further ado, here is our follow up on the accounting shenanigans of Harvest Natural Resources.

The general overview of our thesis on Harvest Natural Resources can be found here. This article will not rehash the prior points.

Accounting Issues:

Since our initial report, we have learned of several companies that have undergone the same...

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