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Strategies & Market Trends : Value Investing
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To: Spekulatius who wrote (42732)5/20/2011 9:26:38 AM
From: Madharry  Read Replies (1) of 78476
 
GFRE-The article raises some interesting questions as do the comments.
It will be interesting to see the timing and amount of shares bought back by the company. I have nothing against Kerrisdale, they made a good score shorting gfre. My guess is that they published this in order to buy back their short position. It was interesting to me that they recently put out their quarterly letter and they did not note in that letter that they were short GFRE so it seems strange that they would disclose something publicly that they did not disclose to their investors so my guess is that they listened to the conference call and decided to buy back their shares. Its also interesting to me that none of the short sellers are saying anything one way or another about the cash position which was confirmed by auditors at year end. On top of that cash and account receivable are over $3.00 a share as of 3/31/11. If I were a short seller I'd feel stupid not covering at these prices.
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