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Jamz Unlimited

 
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  • Short Seller Attack on China Integrated Energy Is Different [View article]
    Hey Blue,

    You will never get me to agree that one should rely on SAIC filings from credit reports to make investment decisions or to allege fraud.

    I recall you saying often that you care little about your own short term performance. I guess when it serves your purpose in attacking others, you would bring up short term peformance.

    But since you did, fine, I'll accept my bad investing decisions, but my performance I have showed publicly is not close to insolvent. It is now updated per your point. I had forgotten about it. I apologize.

    3 of my positions I have written about are up 20, 41 and 6.5%. Two are down 55 and 45, one of those taking place within several days of today due to a short attack that is still ongoing. Only in Waldo's world and using Wald's math is that insolvent.
    Mar 29, 2011. 05:06 PM | Likes Like |Link to Comment
  • Short Seller Attack on China Integrated Energy Is Different [View article]
    The only thing proven in ONP so far is that short sellers in recent months can bring down a share price by publishing blogs. The auditor remained on. Sell side analysts resumed coverage. The company still makes paper. I have no idea where you get the sense that anything is proven or been decided. In fact, from your own admissions if I remember correctly, you shorted at $5, so after a year worth's of work there, your profit in nill. The share price hasn't retouched its original lows from last summer, so again, given the auditor remaining, sell side analysts resuming coverage, investigation results aided by Deloitte clean and the share price stable, how can you speak so arrogantly and assuredly that the short side has won here?

    You claim evidence, closure and success on ONP where clearly there is none, yet I am arrogant? You don't have to be young to be arrogant. You're an old man, and you're worse than me.
    Mar 29, 2011. 01:02 PM | 1 Like Like |Link to Comment
  • Short Seller Attack on China Integrated Energy Is Different [View article]
    Whether the filings a firm submits to SAIC are ever audited, or audited less than the SEC mandates, the point is still the same. The SEC requies much more stringent auditing requirements than the AIC. As you can very clearly see from the mission statement and description of the SAIC, the purpose of that office has nothing to do with keeping financial records, collecting taxes, or anything financial really at all.

    Referencing SAIC filing for its financial information for use in investing is wrong. The office is not designed for it. If you're going to rely on one of them, rely on the one that is audited by a Big 4 accounting firm.
    Mar 24, 2011. 11:23 AM | 6 Likes Like |Link to Comment
  • Orient Paper Proved Innocent - When Will It Return to Pre-Allegation Levels? [View article]
    I would agree in some ways with this comment. The thing is that I am not making a huge claim and driving the prices of the stocks down or up. I don't have my own website, and I don't put out what look like "research reports." I am simply aggregating information from other news sources already made public. Meanwhile these short sellers have their own websites, make themselves appear to be legitimate operations, yet hide in the shadows of their living rooms, boiler rooms, dungeons, or wherever they do their work.
    Feb 20, 2011. 06:06 PM | 3 Likes Like |Link to Comment
  • Attractive Valuation for China Integrated Energy [View article]
    Unfortunately, in my opinion, you suffer from the same disease as Special K. You are asking questions for which there are no answers. Operating performance drives share prices, not whether the CEO sold shares and why. You and K seem to simply ignore the most important aspect of valuation, and hone in on a number of capital markets/non operating activities, that don't drive the share price.

    People sell shares for many different reasons. They wouldn't have decided to list if the CEO didn't want to sell shares to the public and de-privatize the company-- and cash in on premium valuations. It's all part of the listing process. I mean this the single basis for the equity capital markets. If he didn't want to sell shares and raise cash for himself and his company, he wouldn't have listed, nor would any public company in the world.

    Want an example?

    PCLN officers have been selling shares like clockwork since going public. PCLN share price has gone from 150-450 during the time they have sold shares.

    finance.yahoo.com/q/it...

    You can focus on non-operating capital markets activities all you want but you're chasing your tail.
    Feb 18, 2011. 02:46 PM | Likes Like |Link to Comment
  • China Ritar Power: New Lows Mean Opportunity [View article]
    I concur on this subject. Lead prices hurt margins last quarter, but obviously was still operating profitably. I don't believe that this is causing the recent price performance, however. Many companies use lead as raw materials inputs, notable battery makers-- others are not trading below book value and less than half of annual sales.
    Feb 17, 2011. 06:11 PM | Likes Like |Link to Comment
  • A Comprehensive Scorecard for Citron Research [View article]
    This is true. There may be some variance of positive performance since 2009 for a short portfolio. Though for claiming fraud for the most part (very few overvalued claims), an average positive performance in recent years is not impressive.
    Feb 11, 2011. 10:54 AM | 3 Likes Like |Link to Comment
  • A Comprehensive Scorecard for Citron Research [View article]
    So basically during the tech bubble he got a lot right when every one was going bankrupt.

    According this sheet, in the last 2 years (since 2009), his fraud allegations have resulted in an average performance of +4%*.

    Considering that he is alleging 0 value on those stocks and calling them frauds, positive 4% as an average is terrible.

    *This average omits CCME because it so far is just trading on fears in the first few days and nothing has been proven one way or another. The others have had a chance to have the market digest all the information.
    Feb 11, 2011. 10:18 AM | 15 Likes Like |Link to Comment
  • Orient Paper Proved Innocent - When Will It Return to Pre-Allegation Levels? [View article]
    "I don't see why they never gave the audit committee access to facilities..."

    ONP did not originally do the capacity checks because the machinery was not operational. Once the boilers were installed and working, they had the capacity check done.

    "...but another appraiser named Equinox, and after 2 months...."

    It's Epuipnet, and as the press release clearly states, they used the same appraiser as before. It's the same appraiser.

    I think the culprit to your troubles here is your inability to read and comprehend.
    Feb 9, 2011. 02:03 PM | 7 Likes Like |Link to Comment
  • Orient Paper Proved Innocent - When Will It Return to Pre-Allegation Levels? [View article]
    I hear what you're saying and agree 100%. These people seem like some shady individuals.

    I know that we know who they are. The point I tried to make was that since they don't post the information about their identities on their websites (we found out through other means), the vast majority of their readers have no idea who there are. Hence, to the vast majority of their readers, they hide behind the facades of their anonymous websites...
    Feb 9, 2011. 01:15 PM | 3 Likes Like |Link to Comment
  • Orient Paper Proved Innocent - When Will It Return to Pre-Allegation Levels? [View article]
    A large basis of this article was based on the fact that the appraiser was recently given access and tested the facilities. You are about 7 days behind the times...
    Feb 9, 2011. 12:50 PM | 5 Likes Like |Link to Comment
  • Orient Paper Proved Innocent - When Will It Return to Pre-Allegation Levels? [View article]
    "A method of analysis used by security analysts to gather information about a corporation. Mosaic theory involves collecting public, non-public and non-material information about a company in order to determine the underlying value of the company's securities and to enable the analyst to make recommendations to clients based on that information."

    i.e. using all available information. The connotation you are sort of referring to is also related, in that part of the theory is that insiders and outsiders should come to the same conclusion. But the main emphasis is that you make decisions from information you can attain. The point I am making in the article is that the information that short sellers put into the market is attainable.
    Feb 9, 2011. 09:07 AM | 5 Likes Like |Link to Comment
  • Attractive Valuation for China Integrated Energy [View article]
    I'll give you the benefit of the doubt that you realize CBEH is a ticker symbol and you didn't annoy some poor Chinese receptionist asking about "CBEH."

    The benefit of the doubt I extend to you ends there. China Integrated Energy is a holding company for the operating subsidiary that Macro Energy would be dealing with. They would not present themselves as China Integrated Energy. Plus MicroEnergy is not installing its own hardware.

    Unfortunately you seem to have no idea what you're talking about.
    Feb 4, 2011. 05:07 PM | 1 Like Like |Link to Comment
  • China MediaExpress: Groundwork, Research, And Videos to Disprove Allegations [View article]
    Kudos... Nice work.
    Feb 3, 2011. 08:57 AM | 1 Like Like |Link to Comment
  • Attractive Valuation for China Integrated Energy [View article]
    I totally agree-- hence my points about highly positive ROE in all business segments. So long as they invest the cash they raised into positive ROE projects, the dilution is offset by higher EPS-- the higher the ROE, the more offset will take place, and in this case, it could be accretive very soon, as you pointed out.
    Jan 27, 2011. 03:38 PM | 1 Like Like |Link to Comment
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