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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
    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.

    Feb 19 10:21 PM | Link | 3 Comments
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