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Muddy Waters Agrees to Pay for Olam International's Debt Rating

November 30, 2012 | About:

This is like a soap opera for investors. First Muddy Waters releases its report suggesting investors short Olam International (OLMIF). Then Olam fires back defending itself.

Now the ball is back in the Muddy Waters court and they do not disappoint:

"Olam's response to our November 27th report is remarkable in that, despite being 45 pages long, it fastidiously avoids addressing the vast majority of our points. The response is essentially a waste of toner, as much of it consists of canned presentation slides and consultant drivel.

Where Olam's response attempts to be substantive, it contains numerous instances of irrelevant information, factual inaccuracies, misleading statements, and mischaracterizations of our report. However, the response does demonstrate Olam's continuing deluded denial of its fiscal problems. It seems the Titanic is still heading full steam toward the iceberg."

Keep it coming boys, there isn't anything better on the television than this!

Muddy Waters Agrees to Pay for Olam Debt Rating

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GuruFocus has detected 3 Warning Signs with Olam International Ltd $OLMIF.PK.
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