This episode has perhaps taught me a few of the best investing lesson for 2013.
I re-read the entire thread and realised that the main points raised by Glaucus were overlooked by fellow VBs. I would never have thought the top customer and supplier could be fictitious. What an eye opener.
Most of the hard-hitting evidence (wrt its fictitious customer and supplier) can be uncovered during the ipo phase. I wonder when Glaucus initiated its short position.
(26-08-2013, 10:12 PM)karlmarx Wrote: [ -> ]This episode has perhaps taught me a few of the best investing lesson for 2013.
I re-read the entire thread and realised that the main points raised by Glaucus were overlooked by fellow VBs. I would never have thought the top customer and supplier could be fictitious. What an eye opener.
Most of the hard-hitting evidence (wrt its fictitious customer and supplier) can be uncovered during the ipo phase. I wonder when Glaucus initiated its short position.
Actually, I am quite curious, assume Glaucus start its short position at minzhong high, they also knew that once their report is out, the shares will be suspended, (in their report), then how are they going to cover their position? How do they know if the halt will not be triggered earlier??
(26-08-2013, 10:15 PM)Greenrookie Wrote: [ -> ] (26-08-2013, 10:12 PM)karlmarx Wrote: [ -> ]This episode has perhaps taught me a few of the best investing lesson for 2013.
I re-read the entire thread and realised that the main points raised by Glaucus were overlooked by fellow VBs. I would never have thought the top customer and supplier could be fictitious. What an eye opener.
Most of the hard-hitting evidence (wrt its fictitious customer and supplier) can be uncovered during the ipo phase. I wonder when Glaucus initiated its short position.
Actually, I am quite curious, assume Glaucus start its short position at minzhong high, they also knew that once their report is out, the shares will be suspended, (in their report), then how are they going to cover their position? How do they know if the halt will not be triggered earlier??
There are hundreds of investors that are more than willing to sell their shares at any price to Glaucus through off-market transactions.
http://rulebook.sgx.com/en/display/displ...01&print=1
(2) A seller who short-sold a security or Futures Contract that is subsequently subject to suspension or trading halt, and the clearing house requires the seller to cover the short position within a prescribed period.
Hope that no ones in this forum got hit. I used to look at their too-good-to-be-true net profit margin and thought that was the a con job. It is now all cleared by Glaucus Report.
I suspected few more listed companies have similar traits. More to come.
Looking beyond everything, damn, that is really good detective work by Glaucus, kudos.
Decided to sell all my S-chips tomorrow.
if u like china's growth story....buy Singapore companies with biz in China instead....there are plenty of them.....
(26-08-2013, 10:59 PM)Wildreamz Wrote: [ -> ]Looking beyond everything, damn, that is really good detective work by Glaucus, kudos.
Decided to sell all my S-chips tomorrow.
(26-08-2013, 10:48 PM)SLC81 Wrote: [ -> ]Hope that no ones in this forum got hit. I used to look at their too-good-to-be-true net profit margin and thought that was the a con job. It is now all cleared by Glaucus Report.
I suspected few more listed companies have similar traits. More to come.
Actually, I almost fall in the same track as you as well as their track record seems quite good but one thing holds me back "Can I trust their statements?"
Good luck to Wilddreamz and those holding it.
