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This episode has perhaps taught me a few of the best investing lesson for 2013.
I re-read the entire thread and realised that the main points raised by Glaucus were overlooked by fellow VBs. I would never have thought the top customer and supplier could be fictitious. What an eye opener.
Most of the hard-hitting evidence (wrt its fictitious customer and supplier) can be uncovered during the ipo phase. I wonder when Glaucus initiated its short position.
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26-08-2013, 10:48 PM
(This post was last modified: 26-08-2013, 10:48 PM by SLC81.)
Hope that no ones in this forum got hit. I used to look at their too-good-to-be-true net profit margin and thought that was the a con job. It is now all cleared by Glaucus Report.
I suspected few more listed companies have similar traits. More to come.
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Looking beyond everything, damn, that is really good detective work by Glaucus, kudos.
Decided to sell all my S-chips tomorrow.