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Jamz Unlimited

 
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  • 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 10:18 AM | 15 Likes Like |Link to Comment
  • Orient Paper and the Unfortunate Shady Corners of Wall Street [View article]
    MW claimed that He Bei Oriental Paper Co. Ltd (the unrelated similarly sounding) operating sub had 2MN in sales. That leaves no, or close to zero left in cash flow to hire a law firm and then hire Deloitte... That must be close to 100,000 or more on retainer and consulting fees alone.

    Point is, and I think you're missing it completely, is that hiring Loeb and Deloitte to defend itself and clear its name doesn't sound like something a firm would do that is inflating its revenues by 27 times, according to MW.

    Oh and by the way, MW has pulled its report on ONP. You can't even get it off its website any more. So before you go reposting to this article comment section, please understand that fact that MW has withdrawn its report.
    Aug 6 09:45 PM | 9 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 02:03 PM | 7 Likes Like |Link to Comment
  • Orient Paper and the Unfortunate Shady Corners of Wall Street [View article]
    I couldn't agree more. If you want to short a stock because you feel it is overvalued for whatever reason, then do it. But when you publish a report for free in order to get people to short it also so you can make money, I think you're crossing some serious ethical boundaries, and possibly legal boundaries.
    Aug 6 04:17 PM | 7 Likes 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 11:23 AM | 6 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 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 09:07 AM | 5 Likes Like |Link to Comment
  • Orient Paper's Top Supplier: An Empty Shell Owned by ONP's CEO [View article]
    This author is claiming huge, serious fraud of a Chinese company. The links he provides as evidence throughout the report are to his own personally managed, owned and maintained blogger's PDF upload site, files.wordpress.com.

    Every single link of evidence are to PDF's he has uploaded to files.wordpress.com, which is a blogger's website where you can store documents. NONE, and I mean NONE, seriously NONE of the evidence he provides links to come from a news or business website. They are ALL, I mean ALL from files.wordpress.com, which he can personally edit and make up evidence for. I thought it was your policy to link to real news or financial websites!

    The one of two times he actually links to something else beyond his PDF upload station, files.wordpress.com, he claims that an article published on 21st Century Business Herald 's website contained evidence to prove some point not even related to his argument in this article. By his own admission, that article is no longer on the website, yet he still links to the news site's main page, which is pointless because the article is not even there. Then he provides another PDF (yes another document that user's can edit themselves) to prove the article was once there. I'm sorry but how on earth is this honest reporting?

    The only other time he links to something else besides his own websites, he links to the main index page of inter-credit.com, but that link does not provide the evidence or PDFs that he claims as it is just the main and first page of that company.

    Personally I am absolutely dumbfounded that you would publish this article and as an avid reader, I believe this article violates your terms of use with regard to publication.
    Aug 10 09:47 AM | 5 Likes Like |Link to Comment
  • Orient Paper's Top Supplier: An Empty Shell Owned by ONP's CEO [View article]
    Are you joking me? The reports you link to come from you own registered and maintained website-- chinesecompanyanalyst.com

    How on earth did SeekingAlpha let you publish this?
    Aug 10 07:48 AM | 5 Likes Like |Link to Comment
  • Orient Paper and the Unfortunate Shady Corners of Wall Street [View article]
    There have been many articles written that refute MW's crazy allegations. I did not want to write yet another one which repeats the same information, but rather this is meant to shine some light on the owner of the MW website to show that he has no credentials as a research analyst. Additionally, I have added in links that do provide evidence to the contrary regarding MW's "smoking gun."
    Aug 5 08:27 PM | 5 Likes Like |Link to Comment
  • China Ritar Power: New Lows Mean Opportunity [View article]
    I appreciate your concern for my accounting knowledge. I have taken many courses. If CRTP was operating at negative margins, I don't think sales would be appropriate (I'd agree with you, and yes I know this is somewhat opposing the typical view of this metric). To me, it doesn't matter how much you sell if you can't turn a profit.

    In this case, CRTP is profitable and has been so for years. So, I feel as if sales is a good indicator of performance for the company. And regarding my losses, it seems clear that in 2010, even when most Chinese small caps have "blown up" I am doing just fine. I like to try to look at valuation a little differently than everyone else so if you don't like my methodology, then don't follow my work.

    Also, regarding dot.com valuation on sales-- I completely disagree with the correlation you are making here. In those cases, the dot.coms were not profitable and were being valued at many many times sales (e.g. 10-100x sales). CRTP is trading at less than .5x sales and IS profitable, and so I am pointing out the valuation disconnect.
    Dec 23 11:36 AM | 4 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 06:06 PM | 3 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 10:54 AM | 3 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 01:15 PM | 3 Likes Like |Link to Comment
  • Attractive Valuation for China Integrated Energy [View article]
    It may have been a smart idea to sell or short a long time ago. Though they retained KPMG-- and they also secured a bank loan-- they're taking strides to sort of "prove" their performance is legitimate-- and I believe them-- though as we can see from the price history, I am taking an opposing view from the market. I am fine with this since I think your fears are well priced into the stock already and there could be huge upside potential if the stock can trade on fundamentals once KPMG blesses the books.
    Jan 27 12:51 PM | 3 Likes Like |Link to Comment
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