Spent 6 months of 2010 as a interpreter for
a private firm contracting to a number of
Most here do not understand chinese culture or
ethics. They are far diffrent from american standards. One could confuse there reluctance to share information for dishonesty. Or business
practices for disception.
In china business dealings are consider more private then family matters.
Had a very brief interaction with company
in R@D capaciity in late 2010.
I wouldnt be too concerned with your investment.
There is a saying in English:
A fool and his money will soon part.
There is similar saying in China:
You can use Google translator to figure out what it means, once you understand it, you will understand Chinese culture.
I read your posts and understood that you lost money investing.
I respect both the wisdom in cutting your losses and the conviction and alacrity required to keep them at 40%.
It was through choice that I stayed in. DGW started out as a seemingly fine investment but evolved into "a throw of the dice".
You know they have the expression, "a lucky fool" and as any red-blooded Bensonhurst resident would tell you, "it's not for nothin'".
Once a cheerleader always ................
Nice having made your acquaintance Tom.
All that you wrote here is correct. Excepting the last phrase.
Namely DGW is that very case where the company does not just cooking the books. There is a rational assumption that company assets gone (from the shareholders, I mean). So, this message board is, unfortunately, not about culture gap.
This is the core of it.
Your notion of "rational assumption", that is.
In your post you write, "that (the)company assets (are) gone (from the shareholders, I mean)". I would most certainly characterize this statement as a rational assumption.
However, to believe this assertion is the only rational assumption, is where you lose me.
I did my DD, bought shares, and now closely follow the unfolding DGW story. I would describe the events to date as surprising, and mysterious.
Many posters on this board are disposed to paint a very one dimensional picture. A tiring black and white landscape just that doesn't work for me.
My hypothesis, as I prefer to call my position, is my best shot at explaining the mystery. Most often I offer it as a counter-balance to posts which IMO range from interesting to inane.
You might consider the possibility, that in your case, you have mistaken a "rational assumption" for a "personal conviction".
Don't use calture as excuse. If you are in china, you know almost everything is fake. One joke said if you arrest every president of the company, there are some innocent people, if you arrest one between one, there are someone missing.
Not only the company list here, there are so many list in china cook the book and exposed.
CFO resign, outside director resign. Come on, if you want to list in US, follow the US rule. If you want your chinese culture, go back to china.
I agree, much of the perceived problems connected the with the Chinese small cap market, are fueled by misunderstanding and misinterpretation.
Furthermore, when this potentially explosive condition is manipulated by expert "arsonists" like Carson and Little, nothing akin to real understanding is served. The very real temperamental and economic chasm between the two systems is not bridged but widened.
These Chinese small caps and their sincere honest investors suffer. Greed, anger, and ignorance prevails.
If you don't agree, read the posts on this message board.