Is Telestone Technologies (TSTC) A "RINO" In Sheep's Clothing?

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Tue, 01/11/2011 - 13:16 | 867348 King_of_simpletons
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In fraud, the chinese capitalists excel.

Tue, 01/11/2011 - 14:21 | 867537 66Sexy
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first thing i did was check TSTC for a short position only to find out its already down over 20% today...

lol, no thanks.

 nice 'after the fact' cramer-esque stock

Tue, 01/11/2011 - 14:24 | 867553 66Sexy
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everything will be aliright, as long as the right people get their "political contributions" and the top bottom approach to administration works its magic..

 

in the end its a "who? what? where?" scenario and the right people in political power get a bit richer.. just like China!

Tue, 01/11/2011 - 13:36 | 867398 Sudden Debt
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I already said it a year ago. Only idiots enter the Chinese market.

You know nothing about these companies besides a website which cost about 500$.

You don't speak Chinese

You can't do any research on those companies

And you never heard about the company.

And still idiots buy Chinese stocks.

I'm sorry, but anybody who loses money on those trades is a idiot.

 

Tue, 01/11/2011 - 13:52 | 867449 rocker
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Yes, only smart investors buy GS, C, BAC, LEH and MER. Whoops, scratch the last two. Something happened. LOL

Tue, 01/11/2011 - 13:54 | 867452 Sudden Debt
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Actually I made good money on C and BAC :)

Tue, 01/11/2011 - 14:08 | 867495 rocker
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I made great money on CHGS and SCOK.  My point is simply that bad Companies are everywhere. 

No harm on your thoughts about small caps in China. All small caps are dangerous. Risk on or off is a choice.

Have A Great Day 

Tue, 01/11/2011 - 14:11 | 867508 rocker
rocker's picture

Did you junk me for that. GEEZZZZZZZZZZ.  I am so proud. 

Tue, 01/11/2011 - 14:49 | 867642 rocker
rocker's picture

After thinking about this a little. China vs. USA. While I love our country I ask one question.

 Which country has the best growing manufacturing base ???  (Bidding on these two: China vs USA) 

  So then, which Country is the better investment if the market pays for growth foremost ???

Tue, 01/11/2011 - 13:40 | 867404 KnightsofNee
KnightsofNee's picture

Market reaction to this will be......meh, who gives a shit anymore? I might just have to take my wife's advice. Turn of ZH and tune into CNBC plus a couple shots of Victory Gin. The Chinese too? Tell me it ain't so.

"Sadly, retail investors (as well as institutions) have been deceived by Telestone...."

Retail "what?" What is this mythical group I keep hearing about?

Tue, 01/11/2011 - 13:41 | 867411 topcallingtroll
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In about a year, after zero hedge has already published all the chinese frauds, the new york times will suddenly notice. This is the next maddoff, or should I say several hundred midget madoffs. Chinese small cap fraud will become an oxymoron. Please continue the crusade because no one else will, yet!

Tue, 01/11/2011 - 13:44 | 867424 Dick Darlington
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Chinese small cap fraud will become an oxymoron.

I guess u meant to say chinese small crap fraud will become an oxymoron. =)

Tue, 01/11/2011 - 13:41 | 867413 rickardswhite
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Project Mayhem continues.......well done TD.

Tue, 01/11/2011 - 13:42 | 867417 max2205
max2205's picture

That's a lot of poop on these guys. There are no laws

Tue, 01/11/2011 - 13:44 | 867423 goldmiddelfinger
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Nice secondary Roth

Tue, 01/11/2011 - 13:45 | 867425 Strider52
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Some other suspect Chinese IPO's: BTFD, FUKU, LOFL (Lolling on Floor Laffing), SS5D (Suki Suki 5 dollah), and TWOM (That Was Our Missile).

Tue, 01/11/2011 - 13:46 | 867430 French Frog
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down 20% now

Tue, 01/11/2011 - 13:50 | 867439 lolmaster
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Surprised ZH was not aware of this "corner" of the market. This is the Chinese way of doing business

Tue, 01/11/2011 - 13:51 | 867446 ewmayer
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Whew - for a second there I thought the piece was about the "Treadstone" corporation...

Anyway, Richard "dupe me" DuPrey over at the Motley Fool *loves* Telestone:

http://www.fool.com/investing/general/2010/12/09/3-top-stocks-at-half-pr...

Tue, 01/11/2011 - 13:52 | 867447 Oh regional Indian
Oh regional Indian's picture

Caveat Emptor!
Do diligence!
Butt, seriously, the whole thing is such a scam, the whole market thing, especially in NY (everyone worth their salt KNOW that the mafia is deeply in bed with the street, run a lot of scams and probably hire and pay better salaries to more russian whiz kids that all the street combined)that in some sense this is not even news.

If the details of stock fixing even as late as the dot com boom ever really got investigated (notice how that has all but disappeared from memory, nothing happened to any of the perps) ever got out, Telenoise would pale in comparison or fade away from he top 500. Even RINO would.

Just hand-wringing or "enemy" nation specific is how I see this.

ORI

http://aadivaahan.wordpress.com/2010/06/14/70/

Tue, 01/11/2011 - 13:57 | 867463 slaughterer
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The problem here is that the Forensic Factor is probably just as big a fraud as Telestone. Fraud analyzing fraud = legitimation crisis.

Tue, 01/11/2011 - 14:03 | 867485 slaughterer
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Go short on TSTC @ $8.00, I dare you.  You will get squeezed by HFT till your nerves jump out of your skin. 

Tue, 01/11/2011 - 18:03 | 868323 deepsouthdoug
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And your interest in TSTC is what?

 

Full disclosure?

Tue, 01/11/2011 - 14:05 | 867487 slaughterer
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These Chinese fraud article exist mainly to squeeze you...

Tue, 01/11/2011 - 14:19 | 867536 rocker
rocker's picture

Interesting, checked the blog out, they have a hard on for a couple of these China small caps.

 

Tue, 01/11/2011 - 14:03 | 867484 chinaguy
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The Chinese are excellent at creating "store fronts". It is part of their culture, part of
their way of thinking.

ANY Chinese facility; housing, manufacturing, financial, etc. ONLY exists if you a)physically walk the site b) verify it is the facility it is represented to be (i.e. not factory I masquerading as factory II) C) verify that the people representing the facility are actually the ones related to the facility D) make sure the local judge is not 100% corrupt. Otherwise you have a good chance of "buying a pig in a poke"

Folks trying to do business in China, working off a Western mindset, always get burned...and
deserve it dumb f*cks…Huge surprise that their stock offerings are often hollow shells.

Tue, 01/11/2011 - 14:17 | 867527 CulturalEngineer
CulturalEngineer's picture

This is another reason why the Rubin/Summers/IMF/World Bank/TBTF Financial Sector Model is one major clusterf*&K for everyone but themselves!

It puts the potential for Control Fraud on steroids... and before anyone can tell what hit 'em... when combined with the exponential growth in the speed and leverage of financial markets... and gross political apathy, greed and stupidity by all participants (including voters)... it really IS possible to screw-up the global economy completely...

Ayn Rand & Alan Greenspan: The Altruism Fly* in the Objectivist Ointment

Compensation and the Social Network

* A very much simplified example of the "Altruism Problem" might be to think about how a decision-maker considering a trade agreement might treat labor-rights depending on whether or not his own children would be working under them, or lose a job because of them. This biases decision rationalizations... (COGNITIVE DISSONANCE)... Over time and in aggregate these biases merit more attention than they receive. Objectivity is often a self-serving illusion. 

 

Tue, 01/11/2011 - 14:55 | 867658 Matxeu
Matxeu's picture

Ok Tyler, where is the chin-fraud watch list- RINO, CGA, TSTC.......  Let's start a project and add a tab like DARPA.  Also, dry bulk carriers will be a theme.

Tue, 01/11/2011 - 16:44 | 868018 deepsouthdoug
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ZH is getting to be good for finding a scam a day.

Tue, 01/11/2011 - 16:56 | 868070 deepsouthdoug
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Those commies have a unique way to bill:

 

It is the common practice in the PRC that invoices are not issued to customers until payments are received.

Do NOT follow this link or you will be banned from the site!