My emotions regarding your thesis (or my own) are immaterial. Similarly, your emotions regarding my thesis (or your own). Emotion has no place in investing. The only thing which matters is which thesis the market validates.
Here is the mechanism by which I see CCME falling to sub-$1 levels:
1) Apr 12 - delisting to pinks 2) Apr 12 - heavy institutional selling, as practically every mutual fund, index fund and emerging-markets ETF has a strict mandate to immediately divest itself of delisted securities. 3) Apr 12 low of say $3 4) Gradual retail holdout capitulation over the next 8 weeks 5) Eventual price of $0.50 by the end of June
"....Block, 34, seems to have hit his stride with Muddy Waters Research, an online service he launched in June 2010 to expose what he describes as misstatements and fraud at small Chinese companies trading in the U.S."
Yongye's Recent Filings Raise Various Red Flags [View article]
Does this chain of discussion really have to go round and round? Here, I will provide clarity:
Manix is accusing Ian of being ignorant of the purported advantage of vertical integration provided by acquiring a raw material supplier.
ECD Fan and BEA are gently pointing out, that given all the other questionable material in the YONG financials (and ChiCom RTO fraud financials in general), the "certain area of Wuchuan County" may not necessarily possess the lignite coal resources YONG management claims.
Yongye's Recent Filings Raise Various Red Flags [View article]
bluv, thanks for replying.
I can see how it might get old, but if the question does seem serious (which it does), it should be addressed. "I'm tired of hearing about this" applies to domestic conflict, but has no place in evaluating investments.
Yongye's Recent Filings Raise Various Red Flags [View article]
Nice article Ian.
I suppose I shouldn't be suprised by this, but the deluge of red thumbs for you and BEA are really quite bizarre. One would hope that people would be appreciative of the fact that you're alerting them to the possibility of massive fraud in one of their long positions.
I am also astounded that ECD Fan's highly pertinent and extremely pressing question ("Name some customers"), is getting such a hostile reception. Toothless and weak as the SEC is, regulation S-K compliance is generally a good idea for a company which purports to be real.
Disclosure: I hold naked long-term YONG puts. Short CAGC and AUTC. Generally sceptical of the Chinese RTO space.
The CSKI -> ACPG -> Harbin TDR chain of control is a matter of fact.
ACPG's delinquent status in California is a matter of fact.
CSKI's hilariously mismatched SEC and SAIC filings are a matter of fact and public record.
CSKI management's opinions on the above are both irrelevant and highly likely to be misleading, since they have not been particularly open about the status of ACPG.
I am curious if your hostility stems from a compensated position in this stock, or merely natural long antipathy to a successful short thesis.
Disclosure: No CSKI positions. Short CAGC, AUTC and YONG. Generally sceptical of the China RTO space.
China MediaExpress: Reiterating My Buy Based on Global Hunter Report [View article]
Hi Clayton!
Are you aware that the wise and venerable Maurice "Hank" Greenberg has directed his attorneys to begin legal proceedings against CCME, Jacky AND the Deloitte name-renter in China?
China-Biotics: Executing Solidly on Growth Plans Means Great Things to Come [View article]
One commentor asked if I had an example of a $1bn company w/ different SEC/SAIC #s. I don't. An article from Piper or Oppenheimer or Cowen about 6 months on the issue listed a few examples. One was a $1bn industrial company that trades in Hong Kong. They listed another company or two that were $500MM plus. Sorry, I don't have the time to sort through them for more examples.
======================...
Bobo, thanks for giving my question a shot, but would you like to be just a tad more specific? Is it Piper or Oppenheimer or Cowen who wrote the piece? What are the names of the "$1bn industrial company that trades in Hong Kong" or the "company or two that were $500MM plus"?
China MediaExpress: Reiterating My Buy Based on Global Hunter Report [View article]
Hi Clayton!
Are you aware that the delectable Ms. Ping, whose every word you apparently hang on, is very suddenly no longer at that league-topping white shoe ibank, Global Hunter?
Why I Bought Lee Enterprises [View article]
www.thestreet.com/prin...
The End of CCME's Fairy Tale [View article]
Also, $60 is...RATHER A LOT of rock, judging by the ghettoness I see 7 blocks SW of me.
The End of CCME's Fairy Tale [View article]
My emotions regarding your thesis (or my own) are immaterial. Similarly, your emotions regarding my thesis (or your own). Emotion has no place in investing. The only thing which matters is which thesis the market validates.
Here is the mechanism by which I see CCME falling to sub-$1 levels:
1) Apr 12 - delisting to pinks
2) Apr 12 - heavy institutional selling, as practically every mutual fund, index fund and emerging-markets ETF has a strict mandate to immediately divest itself of delisted securities.
3) Apr 12 low of say $3
4) Gradual retail holdout capitulation over the next 8 weeks
5) Eventual price of $0.50 by the end of June
Short Seller Attack on China Integrated Energy Is Different [View article]
Nobody has hidden anything.
online.barrons.com/art...
"....Block, 34, seems to have hit his stride with Muddy Waters Research, an online service he launched in June 2010 to expose what he describes as misstatements and fraud at small Chinese companies trading in the U.S."
I don't know how it could be any more clear-cut.
The End of CCME's Fairy Tale [View article]
Thanks.
Yongye's Recent Filings Raise Various Red Flags [View article]
Manix is accusing Ian of being ignorant of the purported advantage of vertical integration provided by acquiring a raw material supplier.
ECD Fan and BEA are gently pointing out, that given all the other questionable material in the YONG financials (and ChiCom RTO fraud financials in general), the "certain area of Wuchuan County" may not necessarily possess the lignite coal resources YONG management claims.
Short Seller Attack on China Integrated Energy Is Different [View article]
I use the word "ChiCom" too. I find it to be convenient shorthand for "Chinese Communist". What exactly does it reveal about my identity?
Short Seller Attack on China Integrated Energy Is Different [View article]
Also in every China RTO meltdown so far, the SEC filing has been the unreliable filing.
I don't have a position in CBEH, but an SEC/SAIC mismatch is definitely a "no-buy" red flag for me these days after RINO, CSKI and CCME.
Yongye's Recent Filings Raise Various Red Flags [View article]
I can see how it might get old, but if the question does seem serious (which it does), it should be addressed. "I'm tired of hearing about this" applies to domestic conflict, but has no place in evaluating investments.
China-Biotics: Executing Solidly on Growth Plans Means Great Things to Come [View article]
Lots of bagholders are waking up to the bitter truth.
Yongye's Recent Filings Raise Various Red Flags [View article]
I suppose I shouldn't be suprised by this, but the deluge of red thumbs for you and BEA are really quite bizarre. One would hope that people would be appreciative of the fact that you're alerting them to the possibility of massive fraud in one of their long positions.
I am also astounded that ECD Fan's highly pertinent and extremely pressing question ("Name some customers"), is getting such a hostile reception. Toothless and weak as the SEC is, regulation S-K compliance is generally a good idea for a company which purports to be real.
Disclosure: I hold naked long-term YONG puts. Short CAGC and AUTC. Generally sceptical of the Chinese RTO space.
CSKI and the Missing Link [View instapost]
The CSKI -> ACPG -> Harbin TDR chain of control is a matter of fact.
ACPG's delinquent status in California is a matter of fact.
CSKI's hilariously mismatched SEC and SAIC filings are a matter of fact and public record.
CSKI management's opinions on the above are both irrelevant and highly likely to be misleading, since they have not been particularly open about the status of ACPG.
I am curious if your hostility stems from a compensated position in this stock, or merely natural long antipathy to a successful short thesis.
Disclosure: No CSKI positions. Short CAGC, AUTC and YONG. Generally sceptical of the China RTO space.
China MediaExpress: Reiterating My Buy Based on Global Hunter Report [View article]
Are you aware that the wise and venerable Maurice "Hank" Greenberg has directed his attorneys to begin legal proceedings against CCME, Jacky AND the Deloitte name-renter in China?
www.courthousenews.com...
Whatever does this mean, Clayton? Are you going to revise your "price floor" of $30 now?
China-Biotics: Executing Solidly on Growth Plans Means Great Things to Come [View article]
======================...
Bobo, thanks for giving my question a shot, but would you like to be just a tad more specific? Is it Piper or Oppenheimer or Cowen who wrote the piece? What are the names of the "$1bn industrial company that trades in Hong Kong" or the "company or two that were $500MM plus"?
China MediaExpress: Reiterating My Buy Based on Global Hunter Report [View article]
Are you aware that the delectable Ms. Ping, whose every word you apparently hang on, is very suddenly no longer at that league-topping white shoe ibank, Global Hunter?
www.thestreet.com/_yah...
Whatever does this mean, Clayton? Are you going to revise your "price floor" of $30 now?