this blogger agrees - but cannot advertise their site here
"
Our disasters in 2015 were all caused by my failure to appreciate the simple fact that there is no real global standard for corporate governance or board independence, financial reporting, liaison with markets, capital market moves, and other daily operations of business. Our disasters include Portugal Telecom whose cash was looted by its bankers helped by a board member answering to the Espirito Santo family rather than to the shareholders collectively and a Chinese firm listed in London which was ousted from the AIM market for losing its Nomad. (A nomad is a nominated adviser helping Alternative Investment Market firms meet reporting requirements. ChinaChaintek was sold from the model portfolio (but I kept mine), and lost its Nomad because other Chinese firms were violating UK regulations, although it probably did not. With no Nomad it now trades nowhere and all the hot UK underwriters and experts do not reply to e-mails. (I did not phone them over Xmas lest I be called an uncivilized American.)
Our worst experience was with a company from a country where they sort of speak English, Australia, which we still own because I like its technology despite its rotten management. More on this for the paid subscribers among you along with a new stock idea discovered during my stay in London..."
BLT Price at posting:
29.5¢ Sentiment: Sell Disclosure: Held
