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Presenting Global Hunter's Humiliating February 17 "Maintain Buy" Report On CCME
Yeah, humiliation doesn't get much worse than putting up the following text a month before the company you just did "extensive due diligence on" and have at a Buy with $26 Price Target ends up being a total and utter fraud (as was warned on Zero Hedge over a month ago... but at least we charge nothing for our services): "We were in China last week to conduct additional due diligence on CCME. We visited CCME’s headquarters again, and reviewed all of its contracts with advertising clients and bus operators, tax filings, and bank statements for the last three years. We called or met 16 top advertisers, who verified a total of approximately $105MM of revenue or ~50% of our estimated 2010 revenue. We called China Telecom, and the exclusive advertising agents for Coca Cola and L'Oreal, who confirmed they have placed ads on CCME's platform. We also spoke to 17 bus operators, who confirmed that they have signed in aggregate 14,191 buses with CCME, or 52% of the total number of buses CCME reported. The amount of revenues and buses these advertising customers and bus operators confirmed with us matched the numbers in the contracts we reviewed at CCME. Shanghai Ba-shi Public Transportation and Eading Group also confirmed their partnerships with CCME. CCME until 2010 had been focused on expanding its intercity bus network in tier II and III cities, and has utilized regional advertising agencies which have extensive local relationships, rather than many of the national 4A agencies. We believe this niche market position and unique approach has made them less visible but kept them very profitable. Based on our due diligence to date, our thesis remains unchanged: CCME is a leader in the inter-city bus advertising market with a unique business model and large growth potential. We reiterate our Buy rating and $26 price target." Oh well - at least we can be certain next week's non seasonally adjusted initial claims number will be at a minimum one (The Seasonally Adjusted can well be negative - it is from the BLS after all).
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Sure, but TBH either 'firm' covering CCME wasn't much of an Eq.R shop and more of a pump n dump or crash and cover type of play by them.
Global Hunter's the biggest fucking joke of all time.
I think they also had a buy rating on HAWK before it filed for bankruptcy.
Globe-ass Cunter.
So you're saying it's not a screaming buy when it reopens for trading next month?
yes
Eating crow can be quite delightful if first sauteed in a lemon sauce, then broiled in it's own juices and served with red wine and brussel sprouts. I've eaten it many times and it's a wonderful laxative.
Put enough habanero sauce on it and crow is edible. 24 hours later however, your ass will be performing penance for having to eat such.
As I've grown older I'm surprised how much I've grown to love everything hot. Maybe it's just old age killing off taste buds. Whatever the cause the thrill is gone, thus the red pepper, jalapeno and habanero sauce. Such is the way of life.
I think that was more the ambitous wine and bountiful brussel sprouts. :P
LOL
It's clear I'll never be writing restaurant reviews or cook books for a living. Thank God I fail at that.
Tyler,
Good work carry on
I just submitted my resume for a trading position. In it I mention that "I have awesome solitare skills from my previous employment trading at BLM Securties". I should be a shoe in for a trading position there.
http://www.ghsecurities.com/pages/career_opportunities.aspx
""We were in China last week to conduct additional due diligence on CCME. We visited CCME’s headquarters again...and...met 16 top prostitutes, who showed us an unBELEIVABLE time, and made us quite excited about pumping this company's prospects."
Fixed it for ya.
+1 Bang Dae Ho
Can anyone advise re my CCME and CAGI put options, for which I thank ZH. But never encountered this situation with the underlying securities " on hold". What happens to puts? THese are May 2011 vintage. Any experience with this?
The only counsel i could offer would be on your exit. Of course that would entail your broker or legal.
This market is not small fish frendly. Everyone in this market needs a good broker and legal council. If you cant inforce your rights you dont have them. good luck.
If the stock is still listed when they resume trading, you'll deal with it the same way you always would (hooing for a nice green day, of course). If the stock gets delisted, you gain the entire amount.
Smart move on holding a far out month. I doubt it'll still be halted till then, so you should hopefully see some profits in the near future.
CD, I've learned over the years to bake my crow in Humble Pie, but hey we all have our own tastes. As to the article above, why is anyone surprised? With all the market shennanigans we see perpetrated by all manner of different players everyday, I made a conscious decision quite a few years ago to close all my brokerage accounts and invest in my own backyard where I have a little more control over outcomes.
When you send your hard earned capital for others to play with all control and more favorable outcomes evaporate.
DaddyO
Quatrains of Tyler Durden, the seer! TD is your d/o/b December 1503 and do you use Michel de Nostredame as an alias?
Awesome due diligence. Can I short Global Hunter?
Crows should never be eaten! They are too intelligent. Eagles don't rule the skies, crows do!
http://www.pbs.org/wnet/nature/episodes/a-murder-of-crows/introduction/5...
Are they hiring?
can we take hank greenberg off the fucking pedestal now cnbc
Hang on a minute... I think CCME is TBTF so can't we get the FED and the BOC to print up some fixin' money?
I sent in 3 resumes to GH (thanks for the link), each with different previous jobs. I hope I get a callback. I think I'm GH material.
The level of 'due diligence' was probably comparable to a trip to the bathroom.
A little OT, but relevant, nonetheless.
My former thieving partner sent his college-age son to China on a school-sponsored trip for 6 weeks. The son made friends with a young man from a wealthy Chinese family, who moved to New York to work at a securities firm after graduation. The partner's son graduated and now takes several trips a year to China, all expenses paid, to pose as an American investor/businessman. In China, having an American involved in business is a good sign of potential success for the endeavor, for some reason, as ZH has noted before.
When I discovered my thieving partner's crimes against the company and myself, the son took another trip to China, this time toting boxes filled with files.
Business is war, and as with love, anything goes. One should also note that, as opposed to war, in business, you have no comrades.