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Gafisa S.A. Message Board

  • rato_branco Jul 11, 2011 8:12 PM Flag

    Fraud Risk

    Judging from posts, people seem to not be too concerned about the accounting issues. Why not? What do people think the risk of actual outright accounting fraud is right now, particularly given the 2009 restatement? The CEO resignation is troubling. Something almost has to be wrong for a mangement shakeup like that to occur.

    I'm looking to enter the name at some level, but the possibility of fraud has me very cautious. To be honest, I think we go meaningfully lower over the next few months, probably finding support around the low 5.65 level, which was resistance in prior to the big rally 2 years ago.

1.42-0.04(-2.74%)Aug 4 4:02 PMEDT