Noble Group

Best look at the annual and quarterly reports yourself, if you don't understand them you have no business investing in noble.

-- via Xperia Z1 with tapatalk

In my mind is what's wrong with this commodity industry. Are they practicing something that we cannot accept ? Why do people keep attacking them. And for earlier cases white knights have to come to the rescue. If the companies are fundamentally strong why do they need it. So are there elements of over speculations and leverages ...

- China MZ, Olam and now Noble ...

Not trying to defend Iceberg either, but I generally like to read short reports, anonymous or not. They are a refreshing read from the typical analyst "buy" report.
That said, Noble is just too complicated for me to understand.

Commodity companies are never (straight froward) like Reits , Smrt, and the likes. They are connected heavily with all sorts of derivatives trading(aka speculations). To me it's a very hard to follow. Pop & Mom investors (like me) hardly dare to touch them.

havne't read the second report, but if you read the first report by iceberg. you realise (almost) everything that they said are accurate/backed up by facts.

how noble sue them lol. and of course anonymous how to sue.

Impairment charges and provision is scaring for commodity company, in the order of hundred of million US$...

The fact sheet of the company result is here
http://infopub.sgx.com/FileOpen/Noble%20...eID=336224

(not vested)

Noble’s FY14 net profit falls 46% to US$132 million; hit by impairment charges and provisions

SINGAPORE (Feb 26): Noble Group, the global supply chain manager and commodity trader, reported a 46% fall in FY14 net profit of US$132 million ($178 million), or 1.6 US cents per share, from US$243.5 million a year ago.

In a filing to the SGX, Noble said the group had taken significant charges for impairments and provisions totalling US$438 million, “in line with many other companies in the commodities sector”, including a US$200 million impairment against its interest in Yancoal.
...
http://www.theedgemarkets.com/sg/article...provisions

in the earnings call, ceo mentioned that they believe they have identified the person whois behind the iceberg research report.

they believed it to be some ex-employee that they fired 1.5 years ago.

(26-02-2015, 09:31 PM)kikababoo Wrote: in the earnings call, ceo mentioned that they believe they have identified the person whois behind the iceberg research report.

they believed it to be some ex-employee that they fired 1.5 years ago.

It really doesnt matter who is the person behind the iceberg report. At the end of the day, it seems like they were right to a certain extent.

Noble has taken a US$200 million impairment against its interest in Yancoal.

All the stock analysts came out to say that these concerns were not new. But did any analyst stick out their neck and question if the valuation assigned to Yancoal was too high?

I guess we all know the answer.

Haha we all know analyst sux.

Very obvious for a while now the investment in yancoal was gonna end badly.

Well don't always make money when you invest with the Chinese.

-- via Xperia Z1 with tapatalk

Actually, the iceberg fellow raised a very good question for investor.
"How does Noble make money?"

After reading through their presentations and report, I am still as ignorant..