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There are still many S-cheat out there, is either U play them or U play by them, go find out more yourself before U kanna burn :)
Chinese stock scams are the latest U.S. import
http://sg.finance.yahoo.com/news/Chinese-stock-scams-latest-U-rsg-3640837820.html?x=0
Pump and dump scheme. Finance chief resigned. A member firm of the " Big Four" accounting company's global network, severed ties to the company. Investors chase the next hot Chinese stock -- only to find themselves victims of scams. Many of the questionable Chinese companies gain access to U.S. capital markets through a back door. Of the more than 600 companies that obtained entry to U.S. exchanges this way between January 2007 and March 2010, a total of 159 were from the China region, according to the Public Company Accounting Oversight Board (PCAOB). While many are legitimate, some turn out to be outright pump-and-dump schemes and other scams. This has taken U.S. exchanges by surprise. NYSE and Nasdaq have delisted several companies and have a veritable " skid row" of more than a dozen firms that have been halted for weeks or months pending requests for information about accounting problems and late regulatory filings. " You see these Chinese companies that have these great numbers, they never miss a quarter of earnings. They are always right on. Their expenses are low. Their growth is tremendous, regardless of the economy. So you go, 'Hmm, this doesn't make sense'," said Left. Efforts to inspect Chinese auditing firms have met resistance from Chinese authorities, but Doty told Reuters this week he expected progress this year, in part because the various problems with Chinese firms had shown authorities in Beijing the importance of credible auditing. " I'm afraid for my personal safety in some areas of China," Qin said. He told Reuters that some companies colluded with employees at major Chinese state-owned multinational banks to provide false bank statements, though he would not specify which ones. " Just because it is China doesn't mean it is a path to riches," Left said.
(TA only show the past/record/referrence so dont apply). Good Fundamental is important for a company, but good honest CEO/management is even more important! A bad management can kill a good company, but a good management can save/improve a bad company. A supercar is nothing if the driver is suck. Remember those milk scandal in china? After that incident who still dare to buy china's milk? That time all buy milk that made in other country, even their own people dont trust their own product. And the lastest is tinted pork, greedy and dishonest businessman there only want $$$, they dont care about integrity or value trust like those branded trusted reputation company(eg, Nestle). As i always said, NO Trust = NO Value. And if u want to sleep better and well without everynight nightmare, u better dont anyhow buy most of the S-cheat, u die also dont know why. And even u know why, u dont even had a chance to spit/puiii on the CEO/CFO! Unless u buy your own air ticket, fly all the way there, and not sure if u really can find them, china so big! Singapore u break the law u try run la, from changi village to tuas south catch u in 1 hrs. And jail+cane+fine all throw to u die pain pain cry till no sound in toilet. Pls support more local, why go support those S-cheat that keep cheating us? Backside too itchy ah?
Local penny stock and S-chip penny stock is very different!
That why most of the china S-chip penny stock fundamental account is so outstanding compare to local company!
That why even pros said this kind of S-chip is too good to be true, really so good meh in both good times and bad times?
Some of the bad S-cheat company really do accounting like own time own target style, u just dont know which real and which not.
Why they need so much cash since the company so profitable and cash rich ?? Worst still after the IPO they just keep the number in the PL just for show.... haha !! Actually just a number only..... in the bank empty....
Hulumas ( Date: 31-May-2011 19:19) Posted:
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Please be noted. I do not mean that! Do not misslead the market perception!
des_khor ( Date: 31-May-2011 12:28) Posted:
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This one I highly agree with you ! Huge cash doesn't mean the company really got actual cash !
Hulumas ( Date: 31-May-2011 11:07) Posted:
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here you go, and we appreciate it. But no based no hugh cash reserve can also be caught even when you look at their biz strategies, so they are still bullshiters. unfortunately, learnt all these and we are taken aback of china counters. They faked many things
Hulumas ( Date: 31-May-2011 11:07) Posted:
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I do not like plenty of cash counter! It simply means they cannot run the business efficiently!
Salute ( Date: 31-May-2011 11:03) Posted:
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i picked 2 last time..
1st turned out to be a bomb.. i burnt myself
2nd i am still holding.. gonna hold for the next 3-5 years
Salute ( Date: 31-May-2011 11:03) Posted:
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isn't it time to pick up some good fundemental penny stocks which rich its historical support during the past few months..............have cash, I think one should get some.
no risk no gain................any warning here? any agree here?