The Alibaba Hu$tle
The China Hu$tle
Mind blowing documentary on how Chinese private companies collaborated with American bankers, lawyers and auditors after 2008, to pull some of the biggest frauds of reverse mergers in the history of American capitalism. How people still have trust in the current system and not crypto, is beyond me.
Never trust earnings reports or press releases by management, even when audited by the big Four. Do your own diligence.
Now, who is shorting Alibaba?
Alibaba did the biggest IPO on NASDAQ, while there was absolutely no way to audit company's financials accurately. SEC has already initiated an investigation of Alibaba's accounting practices.
And Alibaba used these funds to invest in Indian startups like PayTM. This is the biggest fraud in the making, and will destroy tens of billions of dollars from American, Chinese and Indian markets.
What about all the losses of Walmart this year?
Walmart used debt to finance this deal, which they'll use as tax offset against interest payments. Still hard to judge whether it was worth losing $10 BN in market cap, and $16 BN on a loss making business which has been unable to scale economically and technologically.
The CEO of Walmart must have been under huge pressure this quarter for carrying out atleast one big M&A to show some activity. Expect firing of atleast one C-level executive in the next 6 months.
I have been doing business with Alibaba for 5years now.
Nice writup
So you already knew what's happening... ;) Thanks for your comment
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