Are you even able to read? I have nothing to do with Bill Ackman. Now, I understand why you have to listen to CNBC to learn. You cannot read.
Leo, what do you think? How can XIN be more suspicious after one and another news? Every single news points that XIN may have a cash hole. I am glad that I were out. Otherwise, I will sell now before the actual offering is announced.
I don't know if I read this correctly. It looks XIN is proposing another debt offering, and Fitch just rated it at B+. What the heck is XIN needing cash so badly? They already did a debt offering and a TPG offering this year.
It doesn't matter star. Nobody should doubt XIN has a legitimate money making business. It sold properties almost everyday. However, the real cash, revenue and earnings are just not as much as in XIN's financials.
Yes, I sold all my XIN after the TPG investments. Star, you have to be honest to yourself. Are all these events added together suspicious? True, there is still a slight chance XIN is innocent, but do you want to take that risk?
CFO quitting alone may not be an issue. However, combined with the expensive bond offering, TPG investment and the slow stock buybacks, there is highly likely a problem. Why the hack does XIN need that much cash when its balance sheet shows it already has a ton?
XIN's accounting fraud risk is higher and higher while the Chinese real estate risk is higher as well. Blindly buying XIN based on the previous technical pattern is stupid.
I remember a guy here bought XIN at $5.5 and thought he once again bought on dip. Now, he may be crying in a corner.
Good decision, Macrino. XIN has been consistently below P/E of 3. The market typically is not stupid after a whole 3 year period. Also, as you said, all signed are pointing that XIN has a lot of accounting going on. Blindly ignoring all these warning signs is not wise. I want to sleep well.
You are also right. Chinese real estate stocks are not the best investment among all other Chinese stocks. They will go up and down based on policy perceptions, but they do not have long-term investing value.
Marcino, I remember you were a big XIN bull. What changes your mind? I got out of XIN because I do not want to associate with any stocks with accounting fraud risk.
XIN does not have that much cash to buy back stocks quickly. Don't trust their cash balance on the quarterly balance sheet.
Just be aware. The good days for US listed Chinese developers may be gone. CHLN drooped almost 40% after the earning release. Can't imagine how XIN could navigator the industry decline.
All I have to say is you have pretty big ego. You may always feel you are right but everyone else is wrong. Only yourself know whether you deserve that big ego. I hope you are really that intelligent. Otherwise, you will not have very decent investment return over the long run.
Hey, you didn't read properly. The poster was saying he used to trust the company 100%. Look, investing is never static. A 100% trustworthy company can be suspicious later after a given event.
It is like you trust your fiance when you married her, but you no longer trust her 100% after she cheated you once. Don't tell me you would continue trust her 100% after the cheating.
I don't consider this news. Someone on this message board already posted this "news" last Friday. Remember, VRA went up more than 5% last Friday. The news is already fully priced in the news. I suspect the VRA will open high today and drop at the end.
Off Saks is not an amazing place. I never feel the stores were managed successfully. VRA at least will experience so shot-term drop until the new CEO lays out some sound plans.