Santi Singhawan...'s  Instablog

Santi Singhawangcha
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I'm a full-time value investor from Thailand who has been investing in Thai stocks since 2002. I just started investing in the US market in the beginning of 2010 and my focus is on China growth stocks. I also focus on analyzing cash flow statements, not just profit & loss statements.
  • RINO: Cash flow statement is still a good indicator. 0 comments
    Nov 30, 2010 10:27 PM | about stocks: CHBT
    RINO has been proven to engage in fraudulent activity. So, I looked into it's cash flow statement and found out that it's cash flow is so bad.

    Sum of net income for 4 years and last 3 quarter is $139m.
    Sum of change in working capital for 4 years and last 3 quarter is -$186m.

    This tells us that RINO didn't get real cash from their customers. Most of its cash came from dept and stock issuance. This is a big red flag for RINO.

    In CHBT case, I don't think there is any thing like RINO.


    Disclosure: long chbt
    Stocks: CHBT
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