Maj, thanks for your post. Sorry about the "whining."
I don't have any solutions.... I do think that your GeoInvesting approach of trying to talk to mgmt first was a great idea, i only wish that some advance warning was given, along the lines of "we're going to be investigating the following cos., if you fear any negative assessments, here's your chance to get out ahead of time."
In response to something you wrote in your post, yes, of course i must hold the companies accountable-- many of them have most certainly NOT behaved or communicated appropriately for publicly traded companies. And having not seen a sufficiently strong response from most of them to the criticisms and the attacks by shorts, i've sold out of almost all of these cos. and moved on to other sectors.
Frankly, though, i think the relentless attacks on these companies over a 6-7 month period, even by evidently sincere persons like yourself and "Bob," created such an indiscriminate "no confidence" effect for the sector that most of these companies all plummeted to a vastly "oversold" condition. With P/Es now of 2, 1, and less than 1, do we really think the Earnings are really only a fifth or a tenth of what is being reported to merit these P/Es? If not, then these companies are clearly oversold. And what has led to this? The massive campaign of criticism. What makes it all so really ridiculous, IMO, is how, right at the same time that the China RTOs were being skewered and roasted by vociferous shortsellers, a whole lot of astonishingly overvalued China IPOs were being foisted on the investing public by the big investment banks. Gee.... something really suspicious about that..... Especially when a company like CCME was initially going to be IPO'd and then the 2008 Crash necessitated a change of plans-- the RTO route.
So... we are to accept the idea that ALL China cos. IPO'd by the big investment banks are "great, trustworthy, investable companies," and EVERY OTHER China co. coming to the exchanges or OTC by other means is "bad, non-investable."
I don't buy it..... Looks to me like one sector (RTOs) is purposely being destroyed to clear the way for another sector (IPOs) that the Big Boys can more directly profit from...
What also looks awfully suspicious is how a lot of the elements and same old names involved with corrupt, organized shortselling rings described several years ago by Mark Mitchell and Patrick Byrne of DeepCapture.com, many of their conclusions supported by independent journalists like Liz Moyer of Forbes and Gary Matsumoto of Bloomberg, and also supported by govt officials like Robert Shapiro... seem to have been repeated here in the China RTO space.
And how strange that once again personnel for TheStreet.com seem to have been heavily involved in the promoting of this China sector for many months and then were part of the massive destruction of this sector (i'm not going to name any names here).
I don't have the time or the stomach for this cr*p anymore, so i've moved on. I'm hoping not to have to ever post again about the China smallcap space.
All best wishes to you, Maj.
I'll apologize in advance for another post that probably sounds like "whining."
May all sincere investors realize their investment dreams...
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