Muddy Waters

  • Carson Block of Muddy Waters. Not to be confused with a cow.


    Skeptical Investor Puts Trust In Ratings Agency

    You may be aware that noisy Asia-focused short-seller Muddy Waters is in a fight with Singaporean agricultural commodity trader Olam. Muddy Waters thinks that Olam is “an extreme example of an increasingly important conflict in modern finance: the clash between accounting and business reality,” and that “it is instructive to view Olam through the lens […]

    / Nov 30, 2012 at 11:36 AM
  • News

    Muddy Waters’ Carson Block Is Not Impressed With S&P, Would Prefer Not To Be Thought Of As A “Ninja Assassin”

    Earlier this month, Muddy Waters founder Carson Block published a report describing Sino-Forest as “a Ponzi scheme…investing for the 23rd century.” The note did not have a positive effect on the company’s stock price and major shareholder John Paulson ended up pulling his entire investment. Appearing on Bloomberg TV earlier today for a little post-mortem, […]

    / Jun 30, 2011 at 1:22 PM
  • News

    And For Another Perspective On Sino-Forest…

    “We are going to provide you with some information on why Muddy Waters research [on Sino-Forest] is a pile of crap,” said Richard Kelertas, an analyst at Dundee Capital Markets, during a conference call he held with clients on Tuesday afternoon. “We believe there’s nothing true in that report.” [FP, earlier]

    / Jun 8, 2011 at 1:40 PM
  • News

    Muddy Waters: Sino-Forest Is “A Ponzi Scheme…Investing For The 23rd century”

    MW’s Carson Block: It’s a Ponzi scheme in that the company perpetually issues securities in order to fund itself. Even by its own fraudulent numbers, the company does not generate any free cash and has not done so in sixteen years. Were the company be unable to issue additional securities to fund itself, it would […]

    / Jun 6, 2011 at 10:35 AM

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