Karl Glazier

Karl Glazier
Contributor since: 2008
Puda Coal was also a cheap stock until the CEO sold the company and kept the proceeds for himself. What could the SEC do? NOTHING. In reality, you don't own anything, if you cannot enforce shareholder rights in China.
If you throw darts to construct the long and short portfolios, on average your return will be exactly 0.00, which outperforms your portfolios.
If you throw darts to construct the long and short portfolios, on average your return will be exactly 0.00, which outperforms your portfolios.
The question is, how long will the strong tanker market last? Last year they only made 9 cents per share? Based on that, the stock is not cheap, since the earning fluctuate widely.
That is the most absurd tax claim I have ever heard. Reminds me of when Putin said Yukos owes $35 billion in taxes.
Lets say one firm sells a product at cost. That is their right. There is zero profit and zero tax. Then this greedy lawyer comes along and says they should sell it at a higher price, and then they would have a profit and would owe taxes. But they sell at cost, ergo no profit or taxes.
Greed runneth rampant in this country. He should be punished for a frivolous claim.
But is management not behaving like the typical Chinese crooks, stealing their shareholders blind with excessive stock-based compensation?
" GAAP net income for the third quarter of 2015 was $2.3 million, or approximately $0.05 per fully diluted share, compared with $13.5 million, or approximately $0.31 per fully diluted share in the same period of 2014. The decrease was mainly due to changes in stock-based compensation expenses and the fair value of the financial derivatives during the period".
So even if the company is doing well, the shareholders will see none of it, as the Chinese management serve themselves first.
It clearly shows how desperate they are to sell their cars. They have exhausted the backlog for model S and now it turns out sales increases are hard to come by, just like GM or Ford.
What is the P/E in Colombia?
Why is SVXY and XIV up only slightly today despite the VIX way down?
Sure it's a great car. But at what price? Despite the fact they are selling it at a loss, few people can afford a $80000 car. These billionaires talk about it like it's pocket change. Only to them!
What about ownership rights as a shareholder in a Chinese company? The Puda Coal CEO sold the whole company and kept the money to himself, and the American shareholders could do nothing.
How can you publish and article like this without talking about valuation? Whether it's a buy or not depends on valuation. What is the P/E, P/B etc.?
In Germany, Europe's largest market, Tesla sold 57 cars in January, down from 165 in December. In Norway, sales were also down 47%. So if China and Europe are very weak, why would the US be strong?
Musk expected 800 sales a month in Germany for 2014. Telsa sold about that much for all of 2014.
He lives in a fantasy world, together with his cultish followers.
Tesla sales in Germany January 2015: 57 (fifty-seven) versus 165 in Dec. 2014. The goal was sales of 10000 per year. Norway is also down by half. So China and Europe is terrible, why would the US be great?
Europe has very high gas prices due to taxes, so electrics should be relatively more popular there. Instead, they are rapidly losing market share plus you have may new entrants.
All we know about the US is that Musk is not talking, so draw your own conclusions.
If you look at smaller cap stocks, the underperformance becomes much more dramatic. CUR was hyped again and again when it was much higher. Tons of smaller oil stocks recommended here are down 50 to 60 %. GILD was seemingly everybody's favorite and vastly underperformed the last few months. There is only one solution: invest only in index funds.
Why did SA remove the performance records of all authors? Because it is terrible!
The market price reflects the consensus of what the fair value is. The authors who disagree with that are mostly wrong, since the consensus combines the greatest wisdom of all market participants. It's the same is science. The consensus is usually right, the few crackpots who disagree and have their own pet theories are usually wrong.
Why didn't you mention they are operating at a loss for many years?
QE has saved the government hundreds of billions of $, as the profit of the FED ( 80 billion a year) is remitted to the government.
"In the more wholesome time before the FED" we had one depression after another, as the financial system was on autopilot, without anybody at the steering wheel.
That is the situation Mr. Stockman and the rest of the doom and gloom crowd wants to go back to. These people are usually gold bugs and are having their just desserts handed to them.
You would think it dawns on them that their theories are wrong, with the collapsing gold and silver price, not the collapsing dollar. But no, they never learn.
Why do you prefer DAL when AAL has a much lower P/E?
FNMA borrows huge amounts with an implied federal guarantee, which means lower interest rates. If the government stops giving this guarantee for free and charges retroactively say 60 basis points for the guarantee for all these years, shareholders will be wiped out.
The bear case says if the government charges 60 basis points guarantee fee for all debt issued by FNMA with the implicit government guarantee, there will be nothing left for shareholders. Because without the government guarantee the interest rate would be much higher.
The Puda Coal CEO sold the company and kept all the money to himself. Shareholders got nothing. That is the reality with these stocks. You cannot enforce your ownership rights as a shareholder. The Chinese government only laughs when foreigners lose their money.
It is pitiful that the signers cannot admit their mistake. Ideology trumps reality. They say "but there has been inflation in asset prices". But that is not what is commonly understood as inflation. Or there has been inflation in hidden areas. Just pathetic.
Puda Coal also was a VIE, and the manager stole all the assets (he sold the company and kept the $1 billion), and there is nothing the American shareholders could do.
If a new potential client calls in, how is the software supposed to know his psychological profile ?
In the last quarter, this lying management told the public they made $.41 per share. That is excluding all depreciation, and a gain from acquisition derived from the high value assigned to Tower’s stake in TPSCo of $15 million. How is that legal? According to accounting rules, valuation is lower of cost or market, you can never WRITE UP the value of something you just bought.
Even after including this ficticious $15 mill. gain, they lost $.31 per share on a GAAP basis.
So we should trust our money to this lying, cheating management. How can you exclude depreciation on a very capital intensive business?
The CEO is George Economou, who is well known to cheat the shareholders by putting their money in his own pocket. See Dryships.
How does the projects business generate $5 per share in the next 12 months, but it does not show in the income statement of JKS?
How can you enforce your claims as a shareholder against a Chinese company? Management can rob you blind, there is not a thing you can do. So you own nothing, really.
What happened to all the other Chinese frauds? The PUDA Coal CEO made a $billion off the American investors and is keeping it, nobody can do anything, since the Chinese government is not cooperating. They laugh when we get ripped off. After all, we are the class enemy. Only fools give them more money.
However, it works great as a pump and dump, as SA has become a great pump and dump website.
They still needed to go through the audit, so they needed to show more kiosks. In their press release today they say that many of the kiosks were not working or unplugged. What a laugh. They also say that only a tiny percentage can download movies. So how do they make their money?
Their story changes all the time, as they are caught in one lie after another.
Don't you have to pay borrow fees on all those shorts?
Schiff has been predicting the collapse of the dollar for many years, and the people who followed him into precious metals have lost a lot of money, plus the stock market has surged in the meantime.
What does it take for his followers to realize that Schiff's theories are obviously not working?
And then the adoration, despite the fact that he is usually wrong! What a bunch of sheep. Wake up!
I read his articles for entertainment, to have a good laugh.
For a man who actually understands the economy, read Jeff Miller's articles instead.