SGH, page-84

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GrumpyScouser

281 Posts.

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19/04/18

16:41

Post #: 32564155
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Originally posted by croasian ↑

There's never an official statement which will come out, just like directors of a company will never tell holders to sell right? Is the SFO Australian or U.K. - obviously SGH was not a fraud they just bought a dying fraud.

While a company is still alive and kicking short sellers who know it is a fraud can't call it that - because proving a fraud would require proving intention. With all the money gone no-one will prove it.

Just like Goldman Sachs and all the other banks never admitted the fraudulent lending they agressively pursued, in fact changed the law to make their fraud legal and then blew up the global economy. Got bailed out on the public tick, CEOs kept their bonuses - nothing admitted.

However as in that case short-sellers correctly identified the fraud at Quindell well in advance.

The noise induced hearing loss at Quindell could only have been fraud.
Like the explosive growth in mortgage lending when the number of credit worthy borrowers was not increasing, the explosive growth in NIHL was proof of fraud.
Because industrial deafness was on the decline, as anyone who has ever worked on an industrial site knows hearing protection is mandatory.

So talking about long term track records is one way of avoiding frauds. Also being able to understand that NIHL has a physical meaning.

There was a lot more to the business than just that but the fraud was super obvious in the Quindell accounts, it wasn't at all subtle. Not enough people watching.

No regulator is going to save investors, we need to own our own sheet - we need to eithanaise frauds early without relying on mummy or daddy to save us.

I guess you have a vested interest in the stubb of Quindell - I have no idea of what's going on there.

Expand

Ah got it: that's a long winded way of saying 'My opinion'.

In the UK guilt or innocence of 'fraud' is normally decided by the courts as opposed to bulletin boards
Cheers.

SGH Price at posting: $3.10 Sentiment: None Disclosure: Not Held
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SGH, page-84

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