barryg714's  Instablog

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I run a fund that is long/short US and foreign equities. fund has a short bias and is generally short stocks we have identified as possible frauds through our proprietary research and investigation.
  • CAST 3 comments
    Feb 19, 2011 10:21 PM

    who is the mysterious mr wu sh xing? mr wu is the owner of CAST latest acquisition he is also the guy who did a reg s and bought 29 mil of CAST stock. why is it that mr wu never filed a 13d (he bought over 6% of cast)? 
    is mr wu a very wealthy businessman? 

    any shareholder who did any research will know that mr wu could never write a 29 mil dollar check or could he have been the true owner of wintown bvi. mr wu is a small business owner in china. i'm sure cast management has a good answer for how they came to the conclusion wu shi xing was an accredited investor and why they did not notify the sec when they saw mr wu never filed a 13d. it is also a surprise that cast did not feel a need to put out a press release when mr wu sold over 2.5 mil shares of his stock on december 22 2010 when they felt a need to explain the high stock volume when direct tv sold only 1.2 mil shares.

    how can we believe anything that cast management says when they claim that a small businessman that obviously does not have 1 million usd let alone 29 million dollars has to say? there is no good explanation for this nothing they can say except mr wu is a front man for somebody. how anyone would want to be a shareholder of a company who so obviously lies about who they are doing business with and knowingly covers up who they sent 65 million dollars of shareholder money to.

    this is just a very small example of the shady stuff going on at CAST. IF i'm saying anything that is not 100% true i welcome cast management to have their criminal defense lawyers contact me. i have a feeling those lawyers might be busy with much more serious issues.
    would love feedback from any well informed shareholders 

    i am short CAST stock and this is only 1 of many reasons why. much more to come.

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  • borr4
    , contributor
    Comments (10) | Send Message
    I'm sure that their lawyers will want to contact you. What is your name and where can they reach you?
    20 Feb 2011, 06:28 AM Reply Like
  • barryg714
    , contributor
    Comments (17) | Send Message
    Author’s reply » they can find me very easily if they find what i am saying to be a lie or misleading.


    do you find any problems with mr wu?
    20 Feb 2011, 03:47 PM Reply Like
  • Business Economics Analyst
    , contributor
    Comments (2530) | Send Message


    I think you raise a very good point. There are a great many cases of sham trading to manipulate the stock price, if you read the SEC cases. I suspect that there is a great deal of sham trading with these Chinese small cap companies, such as you demonstrate with CAST. I highly recommend studying all the ways that people illegally trade to manipulate the prices. The main take away that I think that is important to get from your article is that all may not be as it seems. In other words, people may not actually be paying anything for shares they receive, they may just report they are. They may also be engaging in sham trading by trading their shares back and forth at progressively higher prices to create the appearance of real trades, but meanwhile having no actual shares or money change hands. I would not be surprised if this is occuring in most, if not all, of these companies.
    21 Feb 2011, 05:31 PM Reply Like
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