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Strategies & Market Trends : Value Investing

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To: Dale Baker who wrote (42887)	6/1/2011 5:36:32 PM
From: Madharry	Read Replies (1) of 78748

I dont know who writes this stuff but its pretty flimsy. if a respectable auditing firm doing its due dilligence should catch most problems, and that is what investors need to be relying on. if we lose confidence in auditors then no one will invest in anything. The problems with deloitte not being able to confirm bank balances correctly and not picking up on loans, speaks poorly of all cpa firms. at the very least you should be able to confidently comfirm cash. Fact is GFRE subsequent to its reverse merger had registered sale of securities to institutional investors and sold several million shares at $8.50 I believe. Theoretically they have over $2 in cash on their balance sheet and the auditors havent resigned yet anyway. that hasnt stopped numerous allegations of fraud and questionable accounting from being posted about them. Would it surprise me if it turned out to be a fraud? I cant say it would anymore, especially after the latest chinese fraud du jour. I dont know who Bill Bishop if but if he says only invest in things you can research yourself it pretty much limits yourself to local domestic exposure. I guess i will take my chances.

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