Replies to post #8319 on Longwei Petroleum (fka LPIH)

[joev2]

Just to clarify, I did very well with LPH. In fact, I was able to offset my gains here with losses that I was holding for years in some other penny games. The only reason I'm mad (if that's the correct word) is because another fraud just took down a bunch of hard working people, and our protectors....the SEC etc., once again, were late to the party.

With that said, the "reverse merger" has MOST DEFINITELY been a means by which Chinese scammers have entered into the American market. Toups has yet to prove (to me anyway) that he has involved himself in ANYTHING legitimate. This isn't his first try. Feel free to correct me if I am wrong.

A lot of people complained about the Geo report and that they were short the stock etc....the leader has a dubious past and so on. They have been wrong on a couple of companies and have nailed others correctly. Well, common sense would be to sell at a peak and then broadcast the negatives. Truth be told, Lph has yet to counter the claims against them....unless you're talking about that pitiful video they put up. The one thing that COULD refute the claims, would be financials...but instead, they muzzled their (now former) accountants and are having directors resign, including one whose complaint was very similar to that of the accounting firm.

I'm also a bit of a contrarian and fortunately, if I was to lose everything from now on, I still would end up with a gain. I thank God for that, but I also am thankful that I have learned to NOT listen to the pundits. I try to listen to whomever makes the most sense. There were two individuals in particular that caused my head to spin....but in a good way, because I got out before the crash.

My statements are not brash and ridiculous as you claim....certainly not for this company. Sure, the stock can double of even triple from here. It already has and if you time it right, you can make a bundle. But one thing this isn't....and that is an investment. Scams are never investments. This ain't no Amazon or Ford....unless Ford is now selling plastic model cars sans the doors, the interior, the wheels etc. That's what we have with Longwei....a company without the goods.

[surfer44]

I believe Berkshire Hathaway was also a reverse merger along with some other well-known names.

An interesting tidbit: I read in some book there is a dividing line with Chinese executives at 50 years old. Chinese executives over 50 would have lived under the old communist regime, and this dictates how they do things in business. For example, they can be over-eager to make fast money - which causes a lot of problems for US investors.
Under 50 there is less of that kind of problem according to the book.

Please note: I believe RINO and FUQI have recently settled with the SEC. Good news perhaps?