RE: decent dayThe main fault in Carsons allegations for me, was when it was revealed he DIDN,T KNOW the company sold standing trees instead of harvesting them. To come out publicly with a mistake like that, says very little about his research. Its easy to see he THOUGHT he had something on the company but because of his sloppy work, I will not give him any credibility.
The excerpt below was taken from the link below the excerpt.
For instance, Mr. Block argued that Sino-Forest overstated its revenues because there is no way the company could have physically transported as many logs as it would have needed to move in order to generate that kind of money. That claim does not match with the company's business profile.
More than 95 per cent of Sino-Forest's revenues come from buying and selling standing timber, which means the company buys lots of land with trees, and then sells those same lots. The company made this clear in its 2010 annual information form, long before Mr. Block's report came out. "Historically, we have not ourselves transported logs and wood-based products to customers, as we mainly engaged in sales of standing timber from our planted and purchased plantations. For these sales transactions, customers are responsible for harvesting and transporting the logs out of the forested areas."
https://www.portalsyngenta.com.br/NoticiaDetalhe.aspx?id=CBB5E8E0E13BB7C9832578A80022F1E8
There has been much damage done to the sp, but I beleive it will recover. The market realizes that this stock is very cheap, and as Sino puts out more defence, the sp will reflect the reasurance and go back up. IMO