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MagmaX

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  • Why a Deloitte Audit of CCME is Valid and Can Be Trusted [View instapost]
    Excellent!
    Mar 3, 2011. 08:38 AM | 1 Like Like |Link to Comment
  • China MediaExpress: Groundwork, Research, And Videos to Disprove Allegations [View article]
    Very good summary!

    Long and strong long term CCME holder. Fully confident, sleeping well :-).
    Feb 3, 2011. 10:20 AM | 4 Likes Like |Link to Comment
  • Uncovering the Real Problem With Chinese Reverse Takeovers [View article]
    Using case with "Trabant" vs "Mercedes&BMWs"... Well US traded Chinese Small Caps, especially reverse mergers are like a lot of Trabants, monstly for a good price, sometimes for very very good price. And... you can also find there Ferraris for the same price like Trabant. Well, good luck shorting Ferrari :-)
    Jan 24, 2011. 12:38 PM | Likes Like |Link to Comment
  • Is China Media Express a Top Tier Company? You Decide [View article]
    I have and I have been having substantial part of my portfolio (currently 60%) in CCME. Why? Because I have been studying every single CCME data source I was able to find during past year. I have seen others to do the same and come to the same conclusion. In fact, I perceive such concentration to be more safe than having larger basket.
    Jan 20, 2011. 06:50 AM | 2 Likes Like |Link to Comment
  • China MediaExpress Draws Interest - Some of It the Wrong Kind [View article]
    Simple - long position, 60% of my portfolio.
    Jan 12, 2011. 03:56 PM | 2 Likes Like |Link to Comment
  • RINO: Tax Evidence Completes the False Accounting Story [View article]
    Well, you write "I hired a Dalian attorney who spent months pressuring Dalian tax officials to release copies of RINO’s VAT Declaration Forms. I have now finally obtained RINO’s electronically filed monthly VAT tax declaration forms as well as a summary of its VAT payment record for 2009."

    .. hit piece from MuddyWaters was released few days ago... and just accidentally you have finally obtained document "supporting" their claim... hmm... Moreover, you can not obtain that legally so I really wonder how you got that.

    Another point, you claimed, both in BORN as well as in this piece that you "hire" people, yet, you claimed that you were not short BORN (at least you make RINO disclosure here).

    Why we should believe one anonymous poster, with China bashing history? Why suddenly hit piece when a tremendous number is shorts are under water.. and they desperate need out?

    Last note.. do you really think is is moral to load up short position & puts, release hit piece and profit regardless where truth is??? Of course, it depends, to which extent is this factor taken into account at all.
    Nov 11, 2010. 02:55 PM | 4 Likes Like |Link to Comment
  • The Myth of Underperforming Chinese Reverse Mergers [View article]
    Voice of reason in avalanche of anti-Chinese hysteria which is going on in other media. It is sad to see that seemingly reputable sources like Barrons can issue such biased piece.

    Rames, thanks for very good article and outstanding website (www.fixyou.co.uk/index...) with wealth of knowledge on very often extremely undervalued Chinese stocks.
    Sep 13, 2010. 12:32 PM | 5 Likes Like |Link to Comment
  • The Myth of Underperforming Chinese Reverse Mergers [View article]
    Voice of reason countering the avalanche of anti-Chinese hysteria which is going on in other media. It is sad to see that seemingly reputable sources like Barrons can issue such biased piece.

    Rames, thanks for this very good article and outstanding website (www.fixyou.co.uk/index...) with wealth of knowledge on very often extremely undervalued Chinese stocks.
    Sep 13, 2010. 12:30 PM | 1 Like Like |Link to Comment
  • The Mystery of the China Discount, Part 2 [View article]
    John, you are stating that

    "You are about 2 weeks to early on CCME.Get back to me later. It is a fraud. Maybe you ought to look at stuff not spoon fed you by the company. Check with a competitor maybe. Specifically the revenue CCME claims is about 5 times reality"

    So effectively you are telling that Delloite is wrong, Starr is wrong, 37 institutional holders are wrong, all due diligence done by individual investors (including Chinese speaking) who visited company, checked details of business with management, all communication by management, all competitive studies... all that is wrong and you have discovered something what they have not been able to see.

    Well, show us the facts. You have to have superior analytical skills, formidable mandarin knowledge (for such accusations on the ground research is a must). I would also expect detailed documentation support for your claims.

    You made direct attack at company with your statement above. So far you have not backed them with anything. Several third party analyses including competitive study done by 3rd party are consistent with the numbers & picture in company fillings and shareholder communications. I hope US legal system is capable enough to handle situation when another smear campaign is launched against the honest, hard working company.

    Jiri
    Sep 10, 2010. 01:59 AM | 1 Like Like |Link to Comment
  • The Mystery of the China Discount, Part 2 [View article]
    John, you stated above:

    "Mike is describing fraudulent Chinese companies in general. Some specific current examples are CHBT, CMFO, CHNG, CSKI, ONP, SKBI, LLEN, CCME, NEP, FUQI, CMED, CGA, CAGC, and others to numerous to identify. The pinks have at least 150 failed enterprises that are spawn of the RTO scandal."

    --> you have named several companies in extremely unfavorable context, claiming them to be fraudulent to be precise.

    I my country, to do something like that is illegal unless you can prove your claims. Not mentioning moral aspect of accusing innocent companies "fraudulent". I am sorry, but it really start to seem that you are using collective guilt and very dirty manipulation.

    See, I have also read about many US priests who molested small boys. Will I claim because of it that all US men are pederasts? Aren't you from US? That is rather ridiculous, isnt it? Yet, it is the exactly the logic you are using.

    Let me reiterate on example of CCME, which is company I am tracking in very deep detail. You accused it to be example of fraudulent company (your exact words, see above). I ask you to support that claim with concrete facts. I am not aware of anything what would even remotely resemble any such support. There is no no litigation, company was not charged with anything.

    Please be very open and direct. What verifiable information is available pointing to any kind of inappropriate activity in CCME?

    Simply - anything what would support your accusation.

    Be specific, no general claims like "all US men are pederasts" or "all Chinese RTOs are scam" or similar sweeping nonsense generalizations.

    Jiri
    Sep 9, 2010. 07:45 PM | 1 Like Like |Link to Comment
  • The Mystery of the China Discount, Part 2 [View article]
    Why are you implying that Chinese companies are cheating? Why are you using collective guilt?

    See, when one becomes defender of whatever position, than the discussion stops. Trench war begins.

    Sweeping accusations, using collective guilt are products of such trench war. It leads nowhere.

    Several companies you mentioned are audited by top class auditor (like CCME with Deloitte). Some had completely open investor day, with possibility to ask anything (again, as CCME). Most has good number of institutional investors and well as private ones, both doing very deep due diligence (again, as CCME and Starr). Several individual investors were at CCME even outside of investor day and they were as far as I know positively impressed. CCME CFO (btw, having strong auditing background) is very open and willing to communicate with shareholders way beyond anything I have ever experienced.

    To claim that reverse merger or SPAC is backdoor is blatant manipulation - reporting requirements, audit requirements, SEC forms themselves.. they are all the same. It is just another way how to get public, nothing more, nothing less - Berkshire used that as well. Unfortunate is that number of Chinese companies were cheated during the reverse merger process and they ended up paying much more than fair price.

    Yet.. you decide to disregard all this and still wage you own crusade "All Chinese RTOs are scam".

    Why should people trust more individual people with short positions and than reputable auditor?

    In fact, that is laughable.

    To balance things and not put them too personal. I am very open to hear anything concrete what would expose some wrong doing in let's say CCME. If you know about anything - please tell me. So far, all my due diligence, all filings, all materials I have read and checked are consistent and showing extreme undervaluation of CCME. Consistent numbers, figures, margins, all fits together. Consistent fillings. Extremely good competitive position, very good growth. Capable management which is still not that much skilled in how to navigate in US markets.

    All the best (not to your position, but to you), Jiri
    Sep 9, 2010. 04:48 PM | 4 Likes Like |Link to Comment
  • The Mystery of the China Discount, Part 2 [View article]
    I will dare to comment here on significant anti-Chinese rhetoric which is noticeable in comments of participants of this discussion. I can say that my experience with Americans is that they are superficial lying crooks, smiling at everything but ready to do anything for the profit. And yes, I work for US corporation so I have it as every day experience. And yes, I am from different continent and culture.

    Now, before you jump out of a skin, pause for a moment... US companies are very often perceived like I described. Yet, I believe that it because of cultural distance. Now, while reading comments on China... there is also such sad and huge heap of misunderstanding. Such sweeping accusations like that all Chinese companies, especially RTOs are scam, cash is illusionary etc...

    I am sad to see people to be to willing to make arrogant and ignorant comments of country they do not understand.

    To offer another impulses - many Chinese entrepreneurs rose in spite of immense adversity. When you read about them, about their companies, they are proud of it, proud of their children which they created. Ironically, number of Chinese entrepreneurs have US in deep respect and to have company at US Exchange is for them prestigious achievement. Yet, when they finally get there.. they are welcomed by horde of short sellers, willing to do anything to discredit the companies and drive them to the ground.
    I can say, being from Europe, that I have deeper trust in hard working Chinese entrepreneur who in spite of all adversity brought his company to NASDAQ than in some well paid manager from "western" company.
    I can say that it is noticeable how emerging Chinese companies are learning. They are hiring top auditors, they are inviting investors, they have analytical coverage rising, their business is often booming.
    Sure, China has a lot of issues, like US had when they have been at the beginning of their historical ascent.
    Last note... you can get executed in China for cheating and corruption.. in spite of being high party official. Compare that to what happened to Madoff...
    Sep 9, 2010. 03:11 PM | 6 Likes Like |Link to Comment
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