Other companies are touting independent verification of cash if the auditor goes directly to the bank ,banks and physically sees the books and a bank officer signing off as opposed to fax or other electronic means of a statement from the bank..I believe that probably happened with XIN...Your opinion???
This thread has become too difficult to navigate. Let's move the discussion to the contination thread, here: http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_X/threadview?m=tm&bn=72398&tid=18828&mid=18828&tof=2&frt=2
Rosen62, I really liked your posts. Yahoo's censors don't like my reply, though, so it must have an 'almost swear word' in it somewhere. I'm too lazy to find the culprit, though, so I just moved my reply to this Google doc: https://docs.google.com/document/d/1MpgD8c6zLD6rqvfqBOmb1PC3eqA9kZIXUIKTQVtm5n4/edit
well, I have bought and will keep buying at these prices because I believe the potential rewards far outweights the risks. You make your own choices, I do not want to convince you or anybody else, in fact I hope that many will keep just selling, so that I can keep buying at these prices or even lower prices. Good luck to you whatever position you take.
another travel site (one accused of fraud & on OTC) --- Universal Travel... trades at 0.12 p/b (less than 1/10 of elong's 1.40) -- but not sure that's a really good comparison... I'll try to add to this soon, good question, hmmm - "what is the cost of elong compared to other travel sights in china.
really neither one - I was in a hurry so couldn't look up details on comparable stocks for elong industry --- but figured a PE in the strong double digits & a market cap of over 400 million showed the stock wasn't getting killed by Gurnee association.
totally agree with apples and oragnes comment. Post was not designed to compare multiples of elong to xin...
Just want you to know chi-town I have been following your need to know. When I 1st started thinking about Gurnee, I sold couple thousand shares at 3.52. Cost basis 1.70 so good move. XIN will trade between here & just under $4 for quite awhile, too much uncertainty. I don't give a crap what Walt says, he isn't listening.
If you really want to freak yourself out over how widespread "fudging" might be in China (due to a completely different corporate culture -- even the word most often used in Mandarin for what we call fraud is a cross between 'fraud' and 'fib'), try this:
Consider the same innocently starting scenario as above, but this time make the assumption that 95% of the time the check really IS in the mail and the fudge is never discovered. If there's 5 to 10 Chinese frauds exposed per year, as is, then that would mean....
Yipes, n'est-ce pas?