Best World

[karlmarx]

I will observe this at the sidelines with an open mind.

Some years back, Glaucus Research (predecessor to Bonitas Research) initiated a short report on China Minzhong (CMZ). It was a company i owned then (I even increased my stake after the clouds were cleared) - End of the day, probably both Glaucus Research made money (since CMZ dropped 50% on the day the report was released) and I also made money (when Mgt did a MBO). Fraud was never proven - but 1 thing for sure was that it prompted Mgt to do shareholder friendly things like increased dividend payout/scale back on CAPEX etc. But at the same time, it also kept investors away despite all these shareholder friendly moves.

My guess is that it is probably too early to take sides - Mr Wee could be right. Bonitas could be right. What is really interesting is to see how this evolves in real time and see the behaviors/reactions of all the various actors, and then hopefully learn a few new interesting things about human behavior.

So keeping this open mind allows an independent unrestricted broad view of this whole saga, and hopefully allows me to keep similar independent thoughts when i have to encounter my next.

You're right, I'm getting ahead of myself. It isn't over yet. 

But the points raised by boon, Marissa Lee, and more recently Bonitas, are sufficient for me to not want to put any money into it.

It doesn't make sense to me to put money into companies where its revenue generating model/ability is doubtful, to say nothing of its expensive price.