As of earlier today, Sino Forest is official bankrupt, courtesy of ISDA’s determinations committee which found just that, despite Sino’s attempt to scapegoat Muddy Waters in an idiotic attempt at redirection. So is Muddy Waters sitting on its laurels, having been vindicated? No: the company just released the following analysis this time focusing on “The Fraud School’, our old friend RINO as well as new entrant to the alleged fraudcap space: [...]
Published Thursday, Sep. 29, 2011 2:56PM EDT
Last updated Thursday, Sep. 29, 2011 5:30PM EDT
China is in the midst of the biggest real estate bubble in human history—“Dubai in 2007 times 1,000.” And Sino-Forest, the less-than-meets-the-eye Canadian forestry play in China? That fits a pattern: Promoters “find a different investment hype, a story, to get people excited. In the 1990s, it was the Internet, and [...]
Wondering why you may not have heard of hacking collective Anonymous for a while? Because, as it appears, the ad hoc organization has been busy assembling Anonymous Analytics, a public equity research entity (and we venture to guess focused mostly on the short side) whose motto is “Acquiring information through unconventional means” and follows up with “You should have expected us.” Think of them [...]
Carson Block of Muddy Waters Research spoke to Bloomberg Television’s Julie Hyman this afternoon regarding Sino-Forest.
**MANDATORY CREDIT: BLOOMBERG TELEVISION**
On today’s moves by the Ontario Securities Commission against Sino-Forest:
“The important thing here is that they suspended the stock. This way, investors are not going to make uninformed decisions. In terms of the Allen Chan and the executives, their day will probably come. But for the time being, investors will not be [...]
After two years of ridicule for his ludicrous bet that Bank of America (about which we will have much more to say shortly) would triple, John Paulson has finally capitulated on his rose-colored glasses call that there is nothing but smooth sailing ahead for US financials. Reuters reports that “he pseudo-mutual fund manager “told investors on Thursday he was “too aggressive” with some of [...]
Early this morning, Muddy Waters sent out the following email:
The Globe & Mail, one of Canada’s largest newspapers, has published a lengthy investigative piece on Sino-Forest’s holdings in Yunnan. The article corroborates Muddy Waters’ research showing that TRE has massively overstated its Yunnan timber holdings.
Muddy Waters is still short Sino-Forest.
Bottom line: a small 2-person operation outsmarted a $35 billion hedge fund courtesy of the [...]
New York (MarketWatch) — Hedge-fund investor John Paulson, who runs the $38 billion Paulson & Co. suffered in early June big losses on key funds. The Wall Street Journal said Thursday that Paulson’s $9 billion Advantage Plus fund lost 13% in the first 10 days of June, leaving it down 20% for the year. His big winner from last year, the Enhanced Partners fund, lost [...]
John Paulson’s worst nightmare is on the verge of coming true. As reported yesterday, JP is a holder of 34.7 million shares of Sino-Forest, which was halted yesterday after Muddy Waters came out with a report exposing the company as a fraud, and my implication, all the sellside analysts covering the company with a buy rating, and all the hedge funds who had bought into [...]