SA News • May. 12, 2013
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May. 12, 2013, 5:13 PMMuddy Waters is short Standard Chartered (SCBFF.PK, SCDRF.OB), saying the market "misunderstands the amount of risk that's presently in the book." MW's Carson Block cites Standard Chartered's $1B load to Samin Tan, chairman of Bumi (PBMRF.PK), the coal company at the center of a dispute, and a $30M loan to Far Eastern Energy (FEEC.OB), with a market cap of $42M, as red flags. He says shorting Standard Chartered is "a very nice way to play the eventuality of the China unwind." | Comment!
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