Muddy Waters on Bloomberg

[tradestar2012]

New video

http://www.bloomberg.com/video/carson-bl...5uwbQ.html

Anyhow, Carson Block seems to be lacking in some basic accounting skills. Doing acquisitions with stock (with long dated earn outs) is not a good way of fleecing management pockets with cash.

He also seems to think the banks are involved in the fraud. Unfortunately Standard Charter is a major British Bank and that the proceeds in HK are stored with HSBC, another major british bank.

The real question the reporter should have asked is "Should you be going to jail if you are found to be wrong about your allegations?"

[Mountainbiker]

New video

http://www.bloomberg.com/video/carson-bl...5uwbQ.html

Anyhow, Carson Block seems to be lacking in some basic accounting skills. Doing acquisitions with stock (with long dated earn outs) is not a good way of fleecing management pockets with cash.

He also seems to think the banks are involved in the fraud. Unfortunately Standard Charter is a major British Bank and that the proceeds in HK are stored with HSBC, another major british bank.

The real question the reporter should have asked is "Should you be going to jail if you are found to be wrong about your allegations?"

It is not fair that he gets to speak whatever he wants. He should not even be allowed to be on TV. Why not get Omar on TV again....

[admin]

Well, you get what you wish, at 1pm Omar will be on Bloomberg

[Mountainbiker]

Can't wait to see  Omar's response!

[kshen]

I'm surprised that this caused such a big ripple considering there was no new information presented. One might wonder if this drop was another short attack or hedge funds playing games

[Mountainbiker]

I believe some new longs got shaken out and stopped out.

The only new BS is "NQ will be delisted within a year". Such a one-sided interview.

Once this BS is digested, the share price will be more stable.

Will have to see how Omar defends NQ.

[Mountainbiker]

I added here under $13. More good news next week and the two weeks after.

The interview that MW just had will be the LAST one!!

[chenlica]

the more BS he put out, the more embarrassing he will be after this case is closed, and everybody will know he is an unethical liar!

[chenlica]

Block compared this rebound to China MediaExpress which he attacked in 2011 and said this is temporary. He even claimed that NQ will be delisted within one year. This is laughable. Why didn't he compare this to his attack on EDU or VIPS or the rest of the companies he failed miserably?

My observation is that Block has gone to a point where he has no choice but is forced to make bold but groundless statement, statement like "NQ will be delisted within one year", in a hope to scare the market and cover his falsehood. He is betting on people forgetting this statement one year after so he really lose nothing using it as one of the last weapons.

[kshen]

Well NQ is still on Reg Sho. THose guys will have to cover and this will be their best chance to cover