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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Difco who wrote (43083)	6/23/2011 5:11:39 AM
From: Madharry	Respond to of 79000

gfre response: 1. i dont understand that at all. who issues quarterly audited financials? 2. if people trusted the financials they would be well over $10. I am not the least bit happy that that they have not repurchased any shares despite the announcement of a buy back program months ago and umpteen suggestions by shareholders that they do so. that to me is the biggest question mark. right now i am a holder as its undisputed that they raised some $85 million by selling shares in the last couple of years. I believe that had the company bought back shares the stock would be about double from where it is today. I will say that I have encountered companies that have cut their dividend and hoarded their cash despite the shares plummeting to the point where it was in the shareholders best interest that the company repurchase shares. so this is not rare just annoying. there is no listing in china. 3 the conversion of the wastewater treatment to something else is a project failure. thems the breaks. 4. My guess is that the Sino-Forest debacle will really hurt the market for chinese stocks for quite awhile in the US. Its distressing to find that these chinese entities can pull the wool over the eyes of experienced well heeled fund managers to the tune of hundreds of millions of dollars not to mention experienced analysts. Sino Forest had a market cap in the billions and had issued public debt as well. OTOH I think this will force the chinese government to act to clean this mess up. In the current environment I would not be willing to recommend any chinese stock for a new purchase, as it seems clear that you cant rely on any of the audits to be accurate. Yesterday I read some detailed report on the latest scam some fruit juice maker, who probably fabricated both production facilities and sales. There is no way a us investor can pick this stuff up without going to china and doing the footwork shortsellers are doing. I am restricting new investments to US and Canada pretty much.