A small hedge fund manager’s lament
We have just been through six years when almost any company that could be purchased by private equity and was potentially worth purchasing by private equity has been purchased by private equity. With the exception of about eighteen months, PE fir...
China Agritech: Getting Wayne Tsou of Carlyle to explain Chinese excellence in nanotechnology production
China Agritech - as has been discussed in previous blogs - manufactures and loads 200 thousand tonnes of dry fertilizer and 13 thousand tonnes of liquid fertilizer using a mere 105 manufacturing staff and just over 6 million dollars in capital.
Obvio...
China Agritech: more miracles in the plant
This post continues to demonstrate the super-human staff of China Agritech. It is proof that the US cannot possibly compete with the Chinese in any total factor productivity sense.
I covered the super-hero status of China Agritech's staff in a ...
China frauds that kill people
Rock climbing equipment is sold by name and reputation. There is not a government standard but climbing equipment is tested to destruction by the International Mountaineering and Climbing Federation (the UIAA). The UIAA produces one of the ...
China Agritech: China’s amazing productivity levels
China Agritech has put out an eight page shareholder letter rebutting claims of short sellers. Readers know that in the past I have been inclined to take such letters under extreme caution.
But in this case I take the company statements as the g...
Guanxi vs Analyst: Carlyle and the coming collapse in Asian Private Equity
I have a friend with a fair career as an analyst in Asian private equity funds. He describes the central debate as being between the “Guanxi guy” and the “Analyst guy” (in his world they are mostly guys) and he says the “Guanxi guy” h...
Family values in the emerging market ruling class
I have just finished reading James Wolfensohn's autobiography - a book that will inspire a few blog posts.
The new consensus is that emerging markets are lower risk than developed markets - they have more favorable demographics and more sound fi...
China Agritech: more photos – more detail
In the last post I (erroneously) showed pictures of a gate of a plant supposedly leased to China Agritech. This was the photo as supplied to me.
The sequence was that the American lawyer in Shanghai who I hired to do this project had a (junior) colle...
China Agritech: a follow up
THIS POST HAS IMPORTANT QUALIFICATIONS - SEE THE POST SCRIPT. PLEASE READ THE QUALIFICATIONS AS AN IMPORTANT PART OF THIS POST.
China Agritech is a NASDAQ listed Chinese company that is – according to its SEC filings - in the business of manuf...
Flagrant breach of copyright by TeacherSoft
There is a really fine company out there – we will call it TeacherSoft. TeacherSoft wants to build the best possible education platform and market it globally.
To do this it inserts in 100 thousand classrooms a classroom recorder. The rec...
China Agritech. The "sniff test" and other questions for Anne Zheng and Carlyle
China scams are becoming so - well - yesterday. There was a lot of it yesterday - hence two long posts in a day.
I barely noticed that Lucas McGee Research had put out a note accusing China Agritech (Nasdaq:CAGC) of being a fraud.
Lucas McGee ...
China Media Express: what disconcerted me when I read the accounts
China Media Express is a tiny company about which there is – as I have noted – major passion and drama on Wall Street.
My last post indicated that it was either (a) one of the best businesses in the history of capitalism or (b) one of the most bra...
