A little black humor for a fine red day.
Today's Chinese small cap sector does not look pretty. The only stable stock I can see in a flood of red is RINO, which holds like a rock (or shall I say "halts" like a rock?)
Joining the knee jerking reaction of the markets, I am officially, together with other members of this board, expressing my new found admiration for Muddy Waters.
As a group, we are perfect willing to and in fact voting (by giving away our money) in favor of one type of fraud (massive manipulation of the stocks by shorts) vs. another (possible accounting irregularity.) We shall prefer the crime of the first kind because, after all, it happens on wall street. Those smart street guys have already raided half of our money in our company-managed IRA and 401K in the Oct 2008 and had taking away our tax money for fatty bonus. It is only nature that we give away the rest of money in our measly trading accounts to them.
The crime of the second kind, the accounting irregularity by Chinese small caps, is
truly horrible even if it is only a allegation. How dare are you, coming half way from the other world and trying to raise money from us?
Attention, Chinese samll caps. From now on, we officially adopt MW as our new WMD. It shall be bombed against any random member of you. As many of us on this board have already pointed out correctly, even if small percentage of the allegation is true,
your firm is in trouble. Even if none is truly, we can always unleash our second wave of the attack. If you think our Wall Street shorts are damaging, wait until you see our Main Street lawyers.
AI
