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In fraud, the chinese capitalists excel.
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
Suprised no one else commented on this ?
It was posted by Rockford yesterday
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!
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.
Yes, only smart investors buy GS, C, BAC, LEH and MER. Whoops, scratch the last two. Something happened. LOL
Actually I made good money on C and BAC :)
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
Did you junk me for that. GEEZZZZZZZZZZ. I am so proud.
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 ???
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?
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!
Chinese small cap fraud will become an oxymoron.
Chinese small cap fraud will become an oxymoron.
I guess u meant to say chinese small crap fraud will become an oxymoron. =)
Project Mayhem continues.......well done TD.
That's a lot of poop on these guys. There are no laws
Nice secondary Roth
Some other suspect Chinese IPO's: BTFD, FUKU, LOFL (Lolling on Floor Laffing), SS5D (Suki Suki 5 dollah), and TWOM (That Was Our Missile).
down 20% now
Surprised ZH was not aware of this "corner" of the market. This is the Chinese way of doing business
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:
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.
The problem here is that the Forensic Factor is probably just as big a fraud as Telestone. Fraud analyzing fraud = legitimation crisis.
Go short on TSTC @ $8.00, I dare you. You will get squeezed by HFT till your nerves jump out of your skin.
And your interest in TSTC is what?
These Chinese fraud article exist mainly to squeeze you...
Interesting, checked the blog out, they have a hard on for a couple of these China small caps.
The Chinese are excellent at creating "store fronts". It is part of their culture, part oftheir 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...anddeserve it dumb f*cks…Huge surprise that their stock offerings are often hollow shells.
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.
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.
ZH is getting to be good for finding a scam a day.
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.
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