Carson Block Drills the Chinese Govt and More!!
Posted by Larry Doyle on November 29, 2012 7:52 AM |
Sense on Cents welcomes the opportunity to promote those who boldly speak truth to power. While the market has a funny way of exposing frauds, the exposing of financial artifice can be facilitated by those who dig through books, records, and accounting statements. No question that our government has failed us often on these fronts. One who is making a real name for himself in this practice is Carson Block and his firm Muddy Waters.
Last week Block dropped his most recent bombshell on a Singapore-based commodities firm named Olam. The firm is fighting back and quickly launched a suit against the not easily scared Mr. Block who took his case against Olam to the airwaves in an interview on Bloomberg. This 12-minute clip is a “GREAT VIEW” as the indefatigable short seller not only calls out those at Olam but also zings the Chinese government for now more aggressively supporting the business practices of financial frauds within the People’s Republic. What else does Mr. Block address?
He compares Olam to Enron. He discusses the potential liability in his business practice and the critical need for those who are willing to short selected stocks.
Carson Block occupies a special spot in the Sense on Cents Hall of Fame. Watch, listen, and learn why I welcome promoting Block’s work.
Calling out the Chinese government!! Gotta love it.
I have no affiliation or business interest with any entity referenced in this commentary. The opinions expressed are my own. I am a proponent of real transparency within our markets, our economy, and our political realm so that meaningful investor confidence and investor protection can be achieved.