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Strategies & Market Trends : Value Investing
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To: E_K_S who wrote (53649)3/25/2014 11:33:59 PM
From: Spekulatius2 Recommendations

Recommended By
Jurgis Bekepuris
Mattyice

   of 78740
 
MR Mindray is cheap, if you believe their accounting is proper. I think the evidence shown in the seekingalpha articles is pretty damning and if the the books of the European subs are cooked, one has to wonder if the accounting for the other subs, especially the main China business, is any better.

While it is true, that Mindray has real product and a real business , it may well be that it's profitability is overstated and probably the cash is not there either. I would not touch this with a ten foot pole and I think it's a better short than long.

FWIW, they also missed earnings and revenue forecasts by a long shot on the last quarter last year, so I would not give too much credence to forward earnings.
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