Shorting Chinese stocks has become quite popular. I'm gratified that I played a role in that, and profited enormously. Not that I'm greedy. I've shared my ideas with everyone including occasionally the SEC and the press.
I knew from first glance (or sniff?) that Hartcourt was junk. How its accounting worked was harder to discern. There were broad lessons to be learned from following Hartcourt. The accounting profession wasn't eager to explain how tiny American CPA firms could audit books far away and in Chinese. Now we know that system is utterly flawed. Applying proper accounting, which is coming about, Chinese stocks that currently trade in the U.S. have little value.
Isn't it incredible that the total German trading lately in Hartcourt stock is about $1,000. I think that qualifies as "dead."
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