I am interested in all things ECD. I am not affiliated with but am a fan of Energy Conversion Devices. Topics that draw my attention: Energy Conversion Devices, United Solar Ovonic aka Unisolar or Uni-solar, Ovonic Materials, Ovonic Battery Company, Cobasys, Ovonyx, flexible thin film photovoltaic laminates, NiMH batteries, phase change memory aka PCM or PRAM, etc. For the latest, visit my blog at: http://ecdfan.blogspot.com/
Founded in 2008, we are the general partner of two private investment vehicles (closed to new investors) with a total of $83 million in assets under management. We are not an investment adviser; please do not contact us regarding investment advisory services. If you are an institutional investor who wishes to discuss a shared position, we welcome the opportunity.
I am currently an individual investor with focus on event-driven trading and long-short opportunities. I graduated Emory University in 2009 and am also a finance Phd dropout from UCLA Anderson. I could be reached at firstname.lastname@example.org
Investment professional and CFA charterholder. I write on Seeking Alpha as a personal hobby and to elicit feedback on specific ideas and topics, help organize my thinking, and connect with intelligent people.
The Green River Intrinsic Value fund is a relatively concentrated, long/short equity strategy. The fund seeks long-term absolute returns investing in deeply mispriced securities which are identified through a careful process of methodical fundamental research and due diligence.
Unlike most other writers who are Westerners, we are based in Asia and we can speak and write Mandarin fluently. We are very strong with fundamental analysis. We also understand the Chinese culture very well which makes our view more valuable when looking at the Chinese stocks. We have been investing for 7 years under the value investing principle all over the world especially in the Hong Kong market and the US market. We find a need to expose all China RTO frauds in the US to defend the real Chinese ethics for more than 5,000 years.
Roddy Boyd is an investigative reporter who has worked for Fortune Magazine, the New York Post, The New York Sun and Institutional Investor News. He also founded The Financial Investigator website, www.thefinancialinvestigator.com. I also wrote "Fatal Risk," on the collapse of AIG.
Most recently, he has founded the Southern Investigative Reporting Foundation, www.sirf-online.org.
SIRF is dedicated to providing document-driven investigative reporting on publicly traded companies. Our work is centered on providing accountability and information to the investing public and regulators. We are organized as a tax-exempt organization, are members of the Investigative News Network and gladly adhere to the highest standards of journalistic integrity. We do not invest in any securities, short or long, and do not take payment for our work. No one sees our work prior to publication.
I look for opportunities to invest where the expected value is sufficiently greater than the cost to invest and look to invest the appropriate portion of the total funds available. To make a gambling analogy, a highly favorable investment would be one where you could invest $1 on a flip of a coin and receive $10 if it flipped heads and lose only $1 if it came up tails. However, you would not want to invest all of your funds because you would be broke if the coin turned up tails. Thus, the goal is to find investments where the edge is sufficiently large and then invest the appropriate portion of the funds. The Kelly formula provides a theoretical basis for the appropriate percentage of total funds to invest in a single opportunity.
However, in the real world, the precise odds are rarely known. Thus, I seek to develop the ability and obtain the knowledge to calculate the odds with a degree of accuracy, and conservatively enough, to be able to make intelligent invesments.
With regards to equities, which I have primarily invested in, I seek to understand the economics of the business so as to evaluate its potential for long term success or failure. I seek to use this understanding, along with an examination of its financial statements, to determine if the company is undervalued or overvalued. I may then decide to go long undervalued companies and I may decide to short overvalued companies. My preference is to find companies to purchase, rather than to short.
Ian Bezek worked for 3 years as an analyst at a New York-based hedge fund. He's currently living in Mexico, pursuing some entrepreneurial opportunities.
Feel free to contact him regarding investments, writing, or speaking opportunities.
Variant View Research and/or its affiliates actively manage trading accounts and may take positions in securities mentioned in its publications or the derivatives of those securities. Variant View Research and/or its affiliates may change its positions at any time without disclosure. We have a financial interest via our securities positions, but we do not receive direct monetary compensation for writing or publishing articles.
Information and opinions provided in our publications are compiled from or arrived at from sources believed to be reliable, however no representation or warranty, express or implied, is made as to their accuracy or completeness. In the event that we receive conflicting information subsequent to publication, we may not necessarily disclose such information or update our publications.
Our publications are provided for informational purposes only and do not constitute investment advice. Investing in securities involves a high degree of risk, and investment activity should only be undertaken after consulting a professional investment adviser.
The Forensic Factor (TFF) believes that individual investors are disadvantaged when investing in certain smaller companies. TFF believes we can profit from market inefficiencies while also identifying companies that are misrepresenting their prospects or financial results. By illuminating corruption in the capital markets, individual investors can make more informed decisions when investing hard-earned capital....
With that said, TFF is a profit organization and will frequently trade in the securities about which we write. Our positions will always be disclosed in the posting. TFF goes to great lengths to ensure that all information is factual and referenced. All facts that we present on this site are true to the best of our knowledge. All opinions presented are our own and accurately reflect our actual opinion on the relevant subject being discussed at the time
My name is Chris Wu. I work for a long and short equity hedge fund with a value oriented investing philosophy. My long investments focus on conservative long term investments in quality businesses with solid, sustainable long term growth prospects and accountable management. My short investments focus on overhyped stocks with dishonest management, deteriorating fundamental outlooks and aggressive accounting policies, as well as outright fraud. Before joining the buyside 8 years ago, I sharpened my skills at a boutique US investment bank focusing on M&A transactions in the agricultural, industrial and basic material sectors. Connect to me on Linkedin at http://hk.linkedin.com/pub/chris-wu/26/546/991
Steven R. Chapski, CPA, CFE, CSM, is a partner in Chapski & Chapski, CPAs, LLP. He graduated with honors from the School of Business Administration at the University of Michigan in May of 1991. He passed with high distinction the Certified Public Accountant (CPA) examination later that same month and earned his CPA certificate in January of 1993. He gained the Certified Fraud Examiner (CFE) designation in July of 1993 and the Certified Software Manager (CSM) designation in May of 1996. He has work experience with the Criminal Investigation Division of the Internal Revenue Service and Pinkerton Investigative Services.
He is a member of the Michigan Association of CPAs (MACPA), the Association of CFEs (ACFE), and the Southeast Michigan Chapter of the ACFE. He served on the Litigation Support Committee of the MACPA from 1996 to 2002. He has spoken before various industry associations regarding litigation support and has written an article for a state-wide legal publication. He has spoken before the International Franchise Association (IFA) regarding royalty auditing and has written an article for Franchising World. His firm is a member of IFA's Supplier Forum.
I am the founder of asensio.com a noted short-selling organization recognized as the Pioneer of Activist Short Selling. It has successfully advocated against more than 52 companies that we believed to be misleading investors. Early on the New York Times called asensio.com's work "something radical and remarkable." I am a graduate of the University of Pennsylvania’s Wharton School and went to work in Venezuela during that nation’s economic boom period, which occurred after the Venezuelan government nationalized its domestic petroleum industry. I left Venezuela as government policy began to shift away from free markets to attend Harvard University’s Graduate School of Business where I obtained a Master’s degree in investment management and finance.
Read more about asensio.com's history here: http://www.asensio.com/?page_id=7 Read more about our work at asensio.com.
In 1996, asensio.com began releasing short-focused research on the internet, becoming the first organization of its kind, the innovator of Strong Sell recommendations, and was the first and remains the only SEC and FINRA registered broker-dealer to have focused on short-selling research and trading. Our status as a unique member of FINRA and a pioneer in activist short selling generated conflicts with other FINRA members and FINRA's staff determined to bar me from membership in their private organization. We are constantly attempting to correct this disagreement. Today the firm and the site are independent of FINRA.
A statement pertaining to the FINRA matter is available here http://www.asensio.com/?page_id=7370 A disclosure statement can be found at http://www.asensio.com/?page_id=7374
I am a former analyst, now full-time investor. I may take long or short positions in companies that I write about, although my focus is on uncovering what I believe to be questionable companies and transactions. I will always provide disclosure whenever I publish a blog post.
I will never attempt to provide false or misleading information. All facts that I present on this site are true to the best of my knowledge. All opinions presented are my own and accurately reflect my actual opinion on the issues that I write about.
The China Market Research Group (CMR), www.cmrconsulting.com.cn, provides our clients with the strategic market intelligence they need to make smarter decisions in China. Several of our leading analysts contribute their thoughts on the business sector in China to this regular update. Check here regularly for key thought leadership positions on China.
Using sophisticated methodologies, our team of analysts conducts customized, objective, and discreet research to help multinational and domestic Chinese companies understand how to seize advantage of the fastest growing economy in the world with actionable initiatives.
Our clients come from a variety of industries. We work with Fortune 500 and leading Chinese companies, private equity firms, SMEs, and hedge funds.
Our analysts on the ground in China have expertise in the following industries:
Consumer Packaged Goods
Cosmetics and Beauty Care
Media, Entertainment, and Tourism
We have functional expertise in:
Marketing and Sales
apparel, consumer products, luxury products, chemical, FMCG, health care, marketing, media, IT, education, venture capital/ private equity, financial services, food, HR, hedge funds
Andrew Left's Citron Research (http://www.citronresearch.com/) (formally known as Stocklemon.com) seeks to expose companies whose management is in some way misleading investors. Left digs into SEC filings, financials, management histories and other data to uncover such situations, and he is usually short the stocks he writes about. Mr. Left has been publishing for 7 years and has created a track record that is unrivaled in short selling. Mr. Left has been cited in Barron's, Wall St Journal, CNBC and other major publications repeatedly for his work. Mr. Left was also an invited speaker at the reknown Master Investor Conference.
Visit: Citron Research (http://www.citronresearch.com/)
A*L was established in 2010 by Jon Carnes, a growth and value-oriented investor who lived for six years (from 2005 to 2011) in China where he researched and invested in dozens of Chinese companies, first long (2005-2009) and then primarily short (2010-2012). Mr. Carnes outperformed other investors by performing extensive “on the ground” due diligence, conducted by a team of experienced analysts and local researchers. His investment opinions were greatly respected by other China focused fund managers attracted to the booming economy but wary of getting duped.
Over several years of scrutinizing over a hundred companies in every corner of China, Mr. Carnes realized that many of those that had gone public were seriously exaggerating their financial performance in their SEC filings. Investors raced to invest billions into Chinese companies that were dishonest and legally accountable to no one, a recipe for disaster for investors, both large and small.
Deciding to take action, Mr. Carnes decided to publicly expose the most egregious frauds he had discovered over the years, focusing on the worst offenders: companies that had exaggerated their profitability by at least 100%. In February 2010, he published a series of reports titled “Management Leaving Investors Stuck at the Pumps” showing that China Natural Gas (formerly NASDAQ: CHNG) management defrauded investors by failing to disclose and likely misappropriating $20 million from an acquisition of an undisclosed related party.
Unfortunately, when CHNG discovered that Mr. Carnes wrote the reports, its chairman Qinan Ji responded by sending an agent to threaten him where he lived in China. Frightened by Ji’s threat, Mr. Carnes removed the reports from the Internet. From this point onward Mr. Carnes knew that publishing the truth while living in China might get him killed.
Mr. Carnes nevertheless chose to remain in China to continue exposing fraud. Knowing that the safety of his researchers depended upon absolute secrecy and anonymity, he published my reports anonymously online using the obvious pseudonym “Alfred Little.” Beginning with CHNG, over the next two years Mr. Carnes exposed a diverse array of investment fraud committed by a U.S. listed Chinese companies.
After two years, CHNG Chairman Qinan Ji’s effort to conceal his fraud finally failed. On 9/21/11 NASDAQ halted trading of CHNG and on 3/8/12 CHNG was delisted. Most importantly, on 5/14/12 the SEC filed fraud charges against CHNG and its Chairman Qinan Ji.
Two more of the companies that Mr. Carnes first exposed faced the same fate. On 2/22/12 the SEC charged Puda Coal (formerly AMEX: PUDA) Chairman Ming Zhao with fraud, confirming each of the allegations in his 4/8/11 report, “Puda Coal Chairman Secretly Sold Half the Company and Pledged the Other Half to Chinese PE Investors.”
Then on 4/23/12 the SEC charged SinoTech Energy (formerly NASDAQ: CTE) and two of its officers with fraud. On 8/16/11, Mr. Carnes was the first to blow the whistle exposing CTE’s massive fraud in a report titled “SinoTech Energy: Enhanced Oil Recovery or Capital Extraction.” Unlike other numerous smaller “reverse merger” frauds, Sinotech was a $168 million IPO listed on NASDAQ underwritten by UBS and Lazard Capital Markets and audited by Ernst & Young.
Three companies, Deer Consumer Products (“DEER”), Sino Clean Energy (“SCEI”) and Silvercorp Metals (“SVM”) criticized in reports published by A*L sued Mr. Carnes for defamation. The three companies coordinated their legal and retaliatory efforts, both in the U.S., Canada and China to silence Mr. Carnes.
The epic battle that followed ended swiftly in a complete rout. NASDAQ delisted DEER and SCEI. SVM and DEER both lost their defamation claims against Mr. Carnes. SCEI abandoned its defamation claim against Mr. Carnes.
After winning the battle against DEER, SCEI and SVM, A*L emerged with the best track record of any China focused investment blog.