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DewDiligence

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DewDiligence

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Re: hptaxis post# 165

Wednesday, 12/28/2011 3:56:54 PM

Wednesday, December 28, 2011 3:56:54 PM

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This places a huge overhang on investing.

I wouldn’t describe it an overhang insofar as the valuation has already been dinged for this liability. On the other hand, if VALE prevails in the Supreme Court and does not have to pay the back taxes, there will presumably be a non-trivial upside.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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