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Canadian Value
CanadianValue
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Olam CEO Goes on Camera to Dispute Claims Made by Short-Seller Muddy Waters

November 29, 2012 | About:

Earlier in the week GuruFocus provided a detailed short sale report on Olam International (OLMIF) prepared by Muddy Waters:

http://www.gurufocus.com/news/199126/muddy-waters-issues-a-comprehensive-strong-sell-report-on-olam-international

As well as an interview with the author of that report, Carson Block:

http://www.gurufocus.com/news/199147/muddy-waters-carson-block-on-incompetent-accounting

I’ve followed Muddy Waters pretty closely since it first started issuing short-sale recommendations publicly, and I have to say that he/they have been very accurate in their past claims.

This time however, the company being shorted is appearing on CNBC to state itscase, and its case is that Muddy Waters and several Hedge Funds are acting in concert to drive down the share price.

I don’t doubt that is true, but that doesn’t mean the claims made by Muddy Waters are wrong.

Either way it is great viewing as we can look into the eyes of an Olam executive and try to figure out what is going on.







About the author:

CanadianValue
http://valueinvestorcanada.blogspot.com/

Rating: 2.6/5 (5 votes)

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