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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (39153)	9/7/2010 11:05:45 PM
From: Spekulatius	Read Replies (2) of 78741

re CSKI - >>Apparently because CSKI reports its results to the SEC, and so it's sales are public info., the distributors are afraid the Chinese government will be able to ascertain the distributors' actual sales, and so tax them (the distributors) accordingly<< I think the big risk with CSKI is that the results are completely fabricated. I actually think that this is the biggest risk with many Chinese microcaps. Since they don't pay dividends and all funds remain in China, who would know? Unless you are able to sanity check their financial statement with those tax reports that they apparently have to file with Chinese authorities there is no way anybody of us could know. And relying on those dinky no-name accounting firms getting it right seems futile as well. If The Chinese companies decide to do fraud, they go with an accounting firm that does not care or is incompetent. Did you read the article about the drug companies retail retail location that is actually a smoothie parlor?

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