nannan66

ih8studying Wrote:
-------------------------------------------------------
> Well Muddy Waters did bring down China Media,
> which was audited by one of the big auditors... in
> no way are audited financial statements 100%
> foolproof. As an analyst, you're supposed to
> 'interpret' these Financial statements right?
>
> On a side note, I thought the Muddy Waters report
> was interesting, although they 'do' lose
> credibility when you spot spelling mistakes.
>
> Tried to purchase some puts today, my goodness the
> spreads are interesting. What's even more
> interesting is the calender spreads on them...

E&Y audited the Indian fraud company Satyam Computers too. I think E&Y is quickly becoming Arther Anderson.
There are many big companies in India that are also borderline fraud but they all grease their crook politicians' and bureaucrats' palms so they are safe. I have this feeling that there will a major blow up in this whole emerging market mania sometime soon because these companies are so difficult to trust and value due to extremely poor corporate governance system and rampant corruption in their native countries.