What's Best for Harbin Electric's Investors Isn't High on the Company List [View article]
Wheel: Let me say that Enron was a pretty real company with some compelling and entirely profitable (then and now) pipeline and trading assets. I am not saying it was a well-managed or accounted for enterprise--I worked at Fortune with Bethany after all and that was our biggest story of the past decade--it wasnt; just that it was a real enough company with some dirty people in key places.
HRBN has factories and customers. That does not mean it is honestly and legitimately accounted for, or that the LBO is serious (even though Morgan would rubber stamp anything and Goldman could sell anything.)
I have provided ample data points. You are comfortable with rank criminals and scammers being involved at every turn? $49mm in cash in the 2Q but Frazer Frost (RINOs auditors) are still the accountants? Not worthy of a mention? You seem to think that the fact no one in low-tech commodity mfg has ever posted 26% operating margins, let alone 36%, is not a good data point.
Share yours please. Bonus points for leaving out name calling...stick to facts.
How about the incongruous LBO when they claim to be CFFO positive but fund themselves with 10% 5-month money, or get $30mm of their $79.1MM from pen-stroke accruals? Add in the benefits of acquisition accounting and they collect another $49mm in working capital (net of cash, net of ST debt)...so they are going to add in another $470mm in 10%-13% debt onto this as capex explodes and revs and margins pull back, plus taxes go from 15% to 25%....That's not a valid question?
And Im the shill?
Finally, people like you buy because of these numbers. But no insiders. Odd. Yang didnt touch a share at $16 in the summer of 09's secondary, no one did (they pay their IR $740k and she didnt buy a single one either) at HRBN, but he's happy to take it off the market at $24 as a screaming bargain.
Harbin Electric: Hope and the Magic Margin Machine [View article]
Ken, That's ridiculous. No such thing or state of affairs exists. What I said is true both technically and, well, spiritually. There are no entities or no holding company that I have a stake in or that a relative has a stake in or any value transfer whatsoever.
The touts you allude to do exist but they are 95% of the time lying and recent rules revisions make clear that any sort of compensation must be disclosed. I'm not Citron (Andrew Left) or Muddy Waters (Carson Bloch).
Two thoughts: What you describe exists almost entirely on the long side (though recent disclosures in the Minkow cases are deeply disturbing) and even if it is done, like the shorts above, those guys have some superior track records. Left has put guys in prison; Bloch has assuredly killed RINO, an organic scam.
Harbin Electric: Hope and the Magic Margin Machine [View article]
Johnstone20: Respectfully, you are wrong. The template that was sent to me by the SA team had that checked. After trying to set the profile without any investment "interest" criteria selected, and having it not function, I let it alone in frustration. A mistake, to be sure. When I realized how it would really look, and after the editors here couldnt help me, I reset it to "dividend" stocks.
I think the idea of the "interest" criteria is a bug; SA thinks it's a feature. They win as it is their site.
I concur that there is nothing wrong with shorting stocks, nor being a passionate owner--As many here are, though few choose to make their case. I simply do not own securities in any form and regret that a checked box makes so many suspicious.
Harbin Electric: Hope and the Magic Margin Machine [View article]
Johnstone20:
When SA asked me to contribute, I was unable to uncheck the "short stocks" tab on the settings section so I left it. About two hours before the story went up I asked Lee Rotenberg to remove it because I do not invest/trade securities at all nor do I offer advice to those who do. I should add that I have no economic or personal interest/connection in anyone who does.
They did not and the way the profile section is designed you have to have something so I changed it to another thing I dont care about--dividend stocks.
What's Best for Harbin Electric's Investors Isn't High on the Company List [View article]
Let me say that Enron was a pretty real company with some compelling and entirely profitable (then and now) pipeline and trading assets. I am not saying it was a well-managed or accounted for enterprise--I worked at Fortune with Bethany after all and that was our biggest story of the past decade--it wasnt; just that it was a real enough company with some dirty people in key places.
HRBN has factories and customers. That does not mean it is honestly and legitimately accounted for, or that the LBO is serious (even though Morgan would rubber stamp anything and Goldman could sell anything.)
I have provided ample data points. You are comfortable with rank criminals and scammers being involved at every turn? $49mm in cash in the 2Q but Frazer Frost (RINOs auditors) are still the accountants? Not worthy of a mention? You seem to think that the fact no one in low-tech commodity mfg has ever posted 26% operating margins, let alone 36%, is not a good data point.
Share yours please. Bonus points for leaving out name calling...stick to facts.
How about the incongruous LBO when they claim to be CFFO positive but fund themselves with 10% 5-month money, or get $30mm of their $79.1MM from pen-stroke accruals? Add in the benefits of acquisition accounting and they collect another $49mm in working capital (net of cash, net of ST debt)...so they are going to add in another $470mm in 10%-13% debt onto this as capex explodes and revs and margins pull back, plus taxes go from 15% to 25%....That's not a valid question?
And Im the shill?
Finally, people like you buy because of these numbers. But no insiders. Odd. Yang didnt touch a share at $16 in the summer of 09's secondary, no one did (they pay their IR $740k and she didnt buy a single one either) at HRBN, but he's happy to take it off the market at $24 as a screaming bargain.
This isn't a data point to you?
I guess I dont understand what one is then.
Harbin Electric: Hope and the Magic Margin Machine [View article]
That's ridiculous. No such thing or state of affairs exists. What I said is true both technically and, well, spiritually. There are no entities or no holding company that I have a stake in or that a relative has a stake in or any value transfer whatsoever.
The touts you allude to do exist but they are 95% of the time lying and recent rules revisions make clear that any sort of compensation must be disclosed. I'm not Citron (Andrew Left) or Muddy Waters (Carson Bloch).
Two thoughts: What you describe exists almost entirely on the long side (though recent disclosures in the Minkow cases are deeply disturbing) and even if it is done, like the shorts above, those guys have some superior track records. Left has put guys in prison; Bloch has assuredly killed RINO, an organic scam.
What statement would be clear enough for you?
Harbin Electric: Hope and the Magic Margin Machine [View article]
Respectfully, you are wrong. The template that was sent to me by the SA team had that checked. After trying to set the profile without any investment "interest" criteria selected, and having it not function, I let it alone in frustration. A mistake, to be sure. When I realized how it would really look, and after the editors here couldnt help me, I reset it to "dividend" stocks.
I think the idea of the "interest" criteria is a bug; SA thinks it's a feature. They win as it is their site.
I concur that there is nothing wrong with shorting stocks, nor being a passionate owner--As many here are, though few choose to make their case. I simply do not own securities in any form and regret that a checked box makes so many suspicious.
Roddy Boyd
Harbin Electric: Hope and the Magic Margin Machine [View article]
When SA asked me to contribute, I was unable to uncheck the "short stocks" tab on the settings section so I left it. About two hours before the story went up I asked Lee Rotenberg to remove it because I do not invest/trade securities at all nor do I offer advice to those who do. I should add that I have no economic or personal interest/connection in anyone who does.
They did not and the way the profile section is designed you have to have something so I changed it to another thing I dont care about--dividend stocks.
Thats that.