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A Look back @ Bye-Bye, CGA

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May 26, 2011 – Comments (5) | RELATED TICKERS: CGA , CNEP.DL , CFSG.DL2

Fellow Fools,

On June 11, 2010 I wrote a blog titled Bye-Bye, CGA. In some way I am tooting my own horn by posting the link, but not joyfully. In large part it is because of the group I was able to trust my gut and cash out in real life. For that I thank you.

It appears that the Chinese system of business ethics continues to clash with those of the west. Until messes like this and the others we have been made aware of (I'm looking at you NEP) are cleaned up I will be inclined to stay clear of Chinese small caps. There may be a pile of cash to be made in China but the Wild, Wild East is not safe enough for me to place serious money.

Cato

5 Comments – Post Your Own

#1) On May 26, 2011 at 11:08 AM, lemoneater (69.98) wrote:

I thought you were talking about a kind of computer monitor.

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#2) On May 26, 2011 at 11:55 AM, Turfscape (43.76) wrote:

Letting go of a loser is quite possibly the most difficult thing in investing for me. You made a smart decision...

What I struggle with is becoming too attached to the possibilities that a company represents instead of focusing on the realities (and the realities of my portfolio, as well).

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#3) On May 26, 2011 at 12:49 PM, goldminingXpert (29.52) wrote:

And YONG and CAGC too. Chinese fertilizer = your money fertilizing fraud.

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#4) On June 06, 2011 at 5:40 PM, akaluna (< 20) wrote:

TMF does not agree.

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#5) On December 29, 2011 at 12:34 PM, kkflash (< 20) wrote:

While some have continued to question NEP's financial reporting, the the company has addressed those issues, and quietly been pumping and selling hundreds of thousands of barrels of oil and selling them at wonderful profit margins. They've also been reinvesting the millions of $ positive cash flow in productive new oil fields. No debt, great earnings, lots of cash on the balance sheet, growing asset base. Atticvs Research was right in saying the stock was a long-term buy at $10. At its current price of $2, it's an absolute steal. In fact, I predict they'll make more than the current stock price in net income by mid 2013.  That means getting all your money back in net profits in less than 18 months.  Almost like getting the company for free.

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