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  • China Small Cap Stocks: Should You Buy, Sell, Or Simply Stay Away? [View article]
    John,

    With the announcement of BDO China as its independent auditor, China Marine Food has largely put to rest investors' concerns over its financial integrity. Furthermore, CMFO has vaccinated itself from additional scrutiny by demonstrating the ability to quickly and effectively respond to such allegations.

    As you already mentioned much investor attention was centered on CMFO's entry into the beverage market with the acquisition of Xianghe and its product Hi-Power. Monitoring reorders, channel inventory, and distributor feedback on end-consumer reception has been key in achieving success for this brand.

    Yes, it can be possible to obtain patents for a price below EUR 10.000 and make a million dollar business out of it.

    An example are the spin offs of Philips Electronics, like ASML and 20 others.
    Feb 21 03:42 AM | 2 Likes Like |Link to Comment
  • China Small Cap Stocks: Should You Buy, Sell, Or Simply Stay Away? [View article]
    Look for example at China Marine Food (seekingalpha.com/symbo...). Oberweis Asset Management was a big buyer recently. From Dutch institutional investors I also know they bought some stocks after visiting the company in China.

    And still shorts are out there claiming frauds without even visiting the company and do some due diligence on the ground in China.
    Feb 20 03:29 PM | 5 Likes Like |Link to Comment
  • China Small Cap Stocks: Should You Buy, Sell, Or Simply Stay Away? [View article]
    I really think investors can buy quality companies for bankruptcy prices. This year I am convinced we will see US-listed Chinese companies taken over by bigger domestic Chinese companies (listed in HK or Shanghai) or foreign companies.
    Feb 20 09:22 AM | 11 Likes Like |Link to Comment
  • CCME: Extensive Research Confirms It's the Real Deal [View article]
    Unbelievable that you are still bashing. How is it possible that you have so much followers?
    Feb 17 11:02 AM | 10 Likes Like |Link to Comment
  • Four Chinese Travel Sector Equity Plays [View article]
    I am curious how UTA is going to develop in the coming years.

    Ctrip derives more revenues from online transactions (40%) than Universal Travel. Because Ctrip is also penetrating the leisure touring market, UTA will face more intense competition from them,. But also from mass market competitors such as Taobao, Qunar, NetEast Travel and QQ Travel.
    Feb 16 08:12 AM | Likes Like |Link to Comment
  • Dutch Treats: 5 Dutch Large Caps and One Mid Cap Worth Having [View article]
    Heineken published better than expected 2010 results today.

    Revenues decreased organically by 2.2% EUR 16.1 bln compared with the expected EUR 16.3 bln. The group volume declined by 3.3% compared with the expected volume decline of 3.1%. The Heineken brand volume was strong with a growth of 3.4%. EBIT (beia) increased by 25% of which 8.6% was organic growth to EUR 2.6 bln, which was better than the expected 18% growth. Also the net profit (beia) was better than expected. Adjusted net profit increased by 37% of which 19.7% was organic growth to EUR 1,445 mln compared with the market consensus of an increase of 31%. This performance was helped by costs savings and strong cash conversion. The cost saving program TMC delivered EUR 280 mln and this was more than expected. The markets developments were in line with the expectations: US and Europe remained challenging while Africa, Asia and Latin America continued to perform very strong. The free operating cash flow increased to EUR 2.2 bln. This had a positive influence on the balance sheet position. The leverage ratio, including FEMSA, was 2.2x, achieving target below 2.5x ahead of plan.

    Heineken expects volume development in Latin America, Africa and Asia to benefit from ongoing robust economic conditions and marketing and investment programmes. Although the company expects an improving economic environment in Europe and the USA in 2011, the impact of austerity measures and high unemployment is expected to result in continued cautious consumer behaviour in these markets. The company expects international premium segment will continue outgrowing the overall beer market, benefiting the Heineken brand and supporting improved sales mix. Heineken forecasts a low-single digit increase in input costs and plans to mitigate this impact through increased pricing.

    The TCM programme will deliver further cost savings, although at a lower level than in 2010 following the earlier than planned realisation of savings in 2010, according to the managemnt. In Europe, Heineken will shift its prime focus towards volume and value share growth, with increased investments in marketing and innovation in Heineken and other key brands, further supported by the international roll-out of higher margin brands. Whilst this is expected to affect profit development in Europe in the near term, Heineken said it underlines its commitment to strengthening its leadership position in the region. In addition, continued efforts will be made to improve the performance of companies acquired over the past few years. Company expects that in the new markets of Mexico and Brazil, improved marketing effectiveness and the realisation of cost synergies will contribute to higher profitability.

    The continued growth in the emerging markets will fuel the growth for the coming years. The take over of FEMSA Cerveza (Mexico)increases the exposure to these markets from 32% to 40%.

    Furthermore, the strategy of Heineken looks clear cut, with emphasis on investing in its strong brands, with continued growth expected in the international premium segments. The valuation is attractive in historical perspective and compared with its peers. The stock is trading at PE of 12.8x and 11.5x 2011 and 2012 earnings forecasts compared with Anheuser Busch Inbev at 14.4x and 12.8x and SABMiller at 15.9x and 14x respectively.
    Feb 16 07:38 AM | 1 Like Like |Link to Comment
  • Mad Catz Interactive: Undervalued Company Can Help You Score [View article]
    Nice article, I also think this company could be an even bigger winner in the nearby future.
    Feb 15 05:57 PM | 1 Like Like |Link to Comment
  • The Game of Shorting China MediaExpress Has Been Exposed [View article]
    I agree with you that a lot of good research comes from short sellers, but with this company they are totally wrong.
    Feb 15 05:31 PM | 1 Like Like |Link to Comment
  • The Game of Shorting China MediaExpress Has Been Exposed [View article]
    Yes I read the book Fooling Some Of The People All Of The Time from David Einhorn. Only he was right on Allied and did some extensive due diligence.

    MW did not the research Greenlight did on Allied, because simply said they don't have the resources to do some extensive research on China MediaExpress. A lot of things MW Googled and were twisted in their research report. If MW was completely sure about their claims they would have verified it by for example an investigative office like Kroll.
    
    Feb 15 03:41 PM | 1 Like Like |Link to Comment
  • The Game of Shorting China MediaExpress Has Been Exposed [View article]
    If investors ask you something you answers are mostly the same. You ask for example if people did their own due diligence.

    My question to you would be.

    Did you due diligence on MW?
    It seems that you believe no one else except MW. I would recommend the book: Top Hedge Fund Investors: Stories, Strategies, and Advice by Cathleen M. Rittereiser and Lawrence E. Kochard (Wiley, 2010) so you learn more about the due diligence process of selecting hedge funds.
    Feb 15 03:29 AM | 5 Likes Like |Link to Comment
  • The War on China MediaExpress Holdings  [View instapost]
    I would be pleased if the SEC really is going to make an afford to look which ones are fraudulent. I really believe the outcome would surprise the short sellers. There are a lot of Chinese companies listed in the U.S. that have our standards of business integrity. Look for example to American Lorain (ALN), that's why I wrote an article about it.

    seekingalpha.com/artic...

    I verified some things myself and would put my hand in the fire for this company.
    Feb 14 01:58 PM | Likes Like |Link to Comment
  • The Game of Shorting China MediaExpress Has Been Exposed [View article]
    MW is a short seller also with own interests. You think they really care about the fact their published report was right or wrong. As long as they can make money, it is OK.

    Most of the arguments MW claimed are already independently debunked. Why you don't verify yourself if the misleading nonsense of MW is true, so you can join the ranks of the longs.


    Feb 14 01:48 PM | 4 Likes Like |Link to Comment
  • The Game of Shorting China MediaExpress Has Been Exposed [View article]
    I heard that Global Hunter will release a fully detailed report on CCME the coming weeks (could be this week or next week).

    If every misleading fact is debunked by an CFA analyst, you still believe the MW report is accurate and true?
    Feb 14 01:08 PM | 1 Like Like |Link to Comment
  • The Game of Shorting China MediaExpress Has Been Exposed [View article]
    China MediaExpress Holdings plays just a minor role in the debate: "Is Shorting China Part Of A Bigger Plan?"

    seekingalpha.com/insta...
    Feb 14 12:33 PM | 4 Likes Like |Link to Comment
  • The Game of Shorting China MediaExpress Has Been Exposed [View article]
    Strange that people still believe in the MW report, despite all the counter evidence presented by other sources like for example.

    ccme-info.xanga.com/

    I think it would be honest and respectful of MW to say:
    "Hey guys, we did some wrong assumptions?"
    "We were wrong on this one"

    No big deal if you would ask me.
    Feb 14 12:25 PM | 4 Likes Like |Link to Comment
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