Fair enough on the capital raises of CCCL. On the other hand, the on-the-ground DD checks out with them (Factory, employees, etc etc). Personally i'll take on the ground due diligence over theoretical evaluation-raising mumblings anyday ;). I don't care what the P/E is, if you can increase capacity (and utilize it) by 20%+ by diluting by 20%, the dilution makes sense form a shareholder value position.
I must say I think its funny how you are now counting the fact that they come from an entire PROVINCE in China as a negative? LOL! Thats like saying "Your from Texas, get away from me!" (No offense to any Texans, I like your boots :p).
I agree with you that even YONG and TRIT is not 100%. Nothing is ever 100%. Heck, its not 100% that CCME is a fraud and i'm sure you would count it as one of the 'blown up' stocks ;). RINO is 100% because they admitted to it, of course.
I'll give you that 50% of the space could be fraudulent in one form or another. Heck, maybe even 60%. But when you start throwing 95% around and 'THEIR ALL FRAUDS'...I gotta start calling BULLSHIT on that one. The math simply does not work at those super high percentages.
-Fernando
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