I’ve never waded into the option world, but couldn’t the holder of the put sell the option to someone who did hold the underlying? Or at the time the underlying is halted, are the options also halted?
Sam Antar is good if you like spotting corporate fraud. He doesn’t do it to make money, but he is good at it nonetheless.
Sam Antar is good if you like spotting corporate fraud. He doesn’t do it to make money, but he is good at it nonetheless.
http://whitecollarfraud.blogspot.com/
I’ve seen stocks react to the occurance of fraud that Sam Antar spotted months before.
so who are the underwriters and lawyes when these frauds go public. or are these legit companies that are bought out and new owners are fraudsters?
or do the owners turn to fraud because they cant make money legaly? i assume some serious DD is going on where these joints are going public…im prob wrong
I had dinner with Sam earlier this year, that dude is hilarious. His stuff is definitely worth reading. If you get a chance to see him present live, it’s worth going.
^Pfft, dinner is for suckers. Sam and I shared a lovely bubble bath together on Thanksgiving evening. We discussed spotting corporate fraud while he took a loffah to my back. Afterwards we made sweet love on a piano.
You win.
bump
Um, like, anyone who isn’t a Bulge Bracket bank or Big 4 Auditor, and frankly these days, quite a few of those too. CSLT Goldman? Really? For shame. How do you have an IPO that loses ~75% of its value in <6 months? WTF is that? Sadly may still be way overvalued!
Due diligence is primarily a scam concept. People will cover their own butts but everything else is caveat emptor. Investment banks and auditors represent the public companies (the sellers), not anyone buying into an IPO (or any stock). If you are a buyer, you are on your own. The idea that the auditor cares about people trading the stock is nearly as big a fallacy as “[Fidelity / Black Rock / Whomever] owns this so it must be legit!!1” – false premise. Fidelity gettin’ hustled hard every day.
ok so these are scams from day one, makes sense
Nice link, will absolutely start reading that blog.
Interesting quote from the “about me” page (Sam Antar is a former convicted criminal) :
“Apologies for my crimes are irrelevant. Apologies do not undo the losses suffered by the victims of my crimes. I do not seek or want forgiveness for my crimes from my victims or society.”
Yeah it’s funny to here him talk about the accounting fraud he committed and the tactics he used to flat out lie to people in order to steal their money. He does not pull any punches.
Sounds like you know many bad-asses, Bromion.
I work as a banker so I deal with CFOs and executives alot, but I imagine that you deal with a whole other category of beasts.
Good on you, man.
This industry is very, very small. People talk about how there are 10,000 hedge funds, and strictly speaking, there may be that many. But there are only a few hundred “real” hedge funds and it is very clubby.