RE: RE: Where there's smoke, there's fire. Has NBF issued a rebuttal to the Alpha article? As a beneficiary of STB's significant M&A business, their opinion would probably be suspect. It's a no-win situation for everybody except the shorts.
The Alpha piece is very well done, regardless of its accuracy. It appears to be a legitimate, detailed, thorough analysis. Most investors are like me. There are other less complicated companies to consider. It would take a lot of time to go through STB's financials and Asbahi's analysis and NBF's report to resolve the conflicts. And even then, there are three possible results, two of which are bad (like Tom Landry said about passing).
1. NBF is right, and I can make some money long (if I'm agile enough to avoid the next Alpha bomb.)
2. Asbahi is right, and I should short, which I've never been good at.
3. Most likely, there are not enough details available about the accounting, and I can't figure out who is right, so I've wasted my time.
However, the further the share price drops, the greater the incentive to invest the time and headache.