22-11-2012, 07:10 PM
Agree with dzwm87... Their "prowess" has declined I think partly because to date I have not seen any EVIDENCE of Sino Forest fraud except what is being accused by Muddy Water, but the accusations have extracted its pound of flesh. I don't think that Sino Forest is totally clean but in a civil society we assume innocent unless proven guilty, but not Mr Market. That in short summarises the case against short sellers: It is much easier to destroy credibility than to build it. The company is essentially destroyed when people lost faith in it, whether or not it is guilty becomes irrelevant.
Nonetheless my main gripe is that Olam raised loads of money in 2008 claiming raw materials jumped. Fair enough. But never deleverage after soft commodities plunged.
Nonetheless my main gripe is that Olam raised loads of money in 2008 claiming raw materials jumped. Fair enough. But never deleverage after soft commodities plunged.
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward
Think Asset-Business-Structure (ABS)
Think Asset-Business-Structure (ABS)