Eratat Lifestyle

Looks like the bond holder also get cheated ? Sad. very sad for those who believe the FA and the management. This is a VERY serious lesson to be learn and NEVER invest in any of the S-chip whom is manage by a private PRC personal perhaps except some Govt enterprise only. All those privately own S-chip should all be delisted from SGX or at least go though a detail verification of those cash held in bank. Wonder how SGX feel as it seems too many S-chips get in to trouble. Lately there was china paper ? and now a big one. Countless. I just hope those get affected can manage their position and get thru it as this is a Lunar new year period.

Skeptic wrote: Newbiestock and Tactician, where are you now? Why don't you come out and tell us what you have to say about this?

I'm not happy to see this either as it is affecting sentiment in other stocks. But you can't say that we did not warn you.

The biggest joke of all is that Lin Jiancheng is un-contactable at a time like this...

btw, I believe they have learnt their lesson by now.

Don't further add salt to their wounds…

The $$ loss is bad enough already

Red flag had been raised by Greenrookie, Relaxing, Momoeagle, Skeptic & myself over the months but yet many people are still excited on ERATAT!!!

I quote:
* THIS GEM GOING TO ROCKET LIAO
* Breaking out!!!
* HOW ABOUT ERATAT DUAL LIST IN HONG KONG STOCK EXCHANGE ...
* Their flagship giant store opening in Shanghai soon

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My Posted on 5/7/2013 as a warning:
 
A company having cash & bank balances of RMB 545 millions. Yet so desperate for cash, turn to “AH LONG SAN” for RMB 100 millions paying interest of 30%. I don’t know why! I don’t understand! I don’t wish to understand! I don’t wait to understand to find out! I don’t wish to enjoy the eventual outcome to find out!

There are so many good companies, so many good businesses around. DON’T FALL IN LOVE with just one. Please don’t take offend, I mean well. Just look at the above - I lot done @ 13.6cts on 25th June 2013, its only 3 dollars job yet so excited. Must be falling in love.

I believe in managing risk. If in doubt on the companies, keep clear. If smells of fish, keep clear. If smells of cockroach, keep clear. I choose not to take unnecessary risks. Even earning lower returns, it’s OK. I value & enjoy GOOD NIGHT SLEEP.

I like this quote:
"If buying a stock requires such in-depth understanding, interpretation, postulation, guesstimation of the company's intention of issuing the bonds, it is probably too much for me."

FairPerson wrote:

Bestworld wrote: The best is yet to come!

The best has yet come but the worst has happened

On a sidenote,

ACS motto: The best is yet to be.

That's why my school always joke, that's the reason they are never the best.

Ok, this will probably be my final post in this forum for quite a long while. Hope investors are ok and wish them the very best.

The red flags were very clear for all to see, but those who fell in love with the stock were simply 'blinded by love'.

- Director Ye Sanzhi sold ALL his shares just a few months ago.
- Despite supposed extreme undervaluation, never any share buybacks or insider purchases from directors
- Chairman and his family are net sellers of the company since IPO
- Claimed to have well in excess of 500 million in cash, but still desperate enough to borrow 100 million from SHK at an effective interest rate of 32%!

The last point in particular is a point we tried to emphasize to Newbiestock so many times but he wouldn't listen. At first he claimed we knew nothing and could not understand the financial mechanics unlike him (because he's a CFA) and that it could not be 32%. Then when he finally realized it was in fact 32% and he had to eat his words, he brushed it off and said we all couldn't understand the company's strategy.

Defense after defense, unconditional rationalization after rationalization, denial after denial, no matter what happened the stock could do no wrong. Newbiestock was in love. Tactician too was particularly dismissive and disrespectful to those who offered critical views on the stock - these people were more interested in hearing positive views that objective views - they were IN LOVE with this stock.

I think the forum admin should take note of this member Bestworld. He had been fanning the flames of bullishness without ever substantiating it. God knows how many people he has harmed this time.

Bestworld wrote: 8.5c.....loading.....

Bestworld wrote: Breaking out!!!

Bestworld wrote: Open strong....just need more volume.....

Bestworld wrote: Look like a strong breakout......

Bestworld wrote: Volume surged again!!!

Bestworld wrote: May test 10c soon if volume continue to increase!!

Bestworld wrote: Breaking 10c.....

Bestworld wrote: Volume getting stronger....

Bestworld wrote: Good volume. Likely to continue with the uptrend as all expecting to complete this cycle to test 16 cents!!

Bestworld wrote: The best is yet to come!

Bestworld wrote: Holding very well.....