mik82

stevenevans Wrote:
-------------------------------------------------------
> Ashwin Wrote:
> --------------------------------------------------
> -----
> > 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.
>
>
> Correction - it was PWC -- not E&Y

Thank you for the correction. For some reason I thought it was E&Y.