Olam Declines After Muddy Waters Questions Accounts

[bathtime]

http://www.bloomberg.com/news/2012-11-20/olam-slumps-after-muddy-waters-block-questions-accounts.html

 

The latest target from Muddy Waters. Their concerns may be well-founded regarding Olam, bargain hunters stay away!

 

In 2011 there were questions on their accounting too:

 

http://www.theedgesingapore.com/component/content/26682.html?task=view

[wknecht]

It's been a while, but from what I recall Muddy Waters has been pretty accurate in spotting phony accounting in the past and deserves credibility.

[fareastwarriors]

It's been a while, but from what I recall Muddy Waters has been pretty accurate in spotting phony accounting in the past and deserves credibility.

 

He made Paulson looks so bad.

[PlanMaestro]

Olam is a well respected firm. It would be a big catch if …

 

I have not read the report but Bain & Co works in their post-merger integrations and a former Bain MD is a director. So I would be surprised if these acquisitions are only thin air.

 

I have to concede there were allegations last year of wrong accounting too, so I'm open ears.

 

http://www.theedgesingapore.com/component/content/26682.html?task=view

 

Does anyone know where I can get a 10 year chart of its price? (Google Finance does not help)

 

RR: http://sg.finance.yahoo.com/echarts?s=O32.SI#symbol=o32.si;range=my;compare=;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;

[PlanMaestro]

http://farm9.staticflickr.com/8199/8204238260_95466d8577.jpg

 

http://farm9.staticflickr.com/8341/8204252696_1125830ea3.jpg

[PlanMaestro]

 

Muddy Waters vs Olam: from New Zealand, with fudge

http://ftalphaville.ft.com/2012/11/20/1271323/muddy-waters-vs-olam-from-new-zealand-with-fudge-2/

[bathtime]

A family friend works in the same field. He doesn't have any information other than that there have been rumors/whispers from ex-employees of Olam and others near the company of current irregularities.

[PlanMaestro]

The report. Enron analogy. No surprise there.

 

http://d.muddywatersresearch.com/wp-content/uploads/2012/11/MW_OLAM_11272012.pdf

[PlanMaestro]

Complex business makes Olam vulnerable.

http://www.ft.com/intl/cms/s/0/baaae8bc-33ba-11e2-9ae7-00144feabdc0.html#axzz2DRDxjlXJ