It's nonsense to sell a position because of someone posting too much on this board !!! The company need to consider so many serious issues right now, I really hope they won't lose a single minute on this one! :-P
It looks very cheap but I am having problems in finding a margin of safety. They will be put half the converts a year from now and there also several lawsuits going on, including a class action suit against them and SNV for predatory lending.
It is difficult sometime to contain yourself, and some of that is happening to me with CCCL ... but have not pulled the trigger. What is your take on it?
I guess no one who passes on bad news is much liked on these boards. The short seller's burdens are extreme:
- no one likes you
- its difficult to find a borrow, and when you can it can be arbitrarily yanked out from under you
- there are high costs associated with borrowing the most obvious frauds
The whole system is constructed to support the long side story and to hassle the short seller.
Peristestone, I know his other account and I can testify (for what is worth) that he was early on in doubting CCME. He is not much liked in iHub board but he is a meticulous analyst and we have shared a couple of investments