69 documents showing 61–69

Herbalife is an illegal pyramid scheme: ~92% of distributor income comes from recruiting rather than retail, and the top 1% extracts 88% of rewards.

Olam's Q2 2013 results confirm Muddy Waters' Strong Sell thesis: debt is spiraling (9.5x EBITDA), cash is burning, and management's acquisitions and Gabon project reveal haphazard planning.

Herbalife is an illegal pyramid scheme masquerading as a nutrition company; its $4.8bn market cap rests on recruiting, not real retail demand, and the stock should go to zero.

Herbalife is an illegal pyramid scheme: distributors profit from recruiting not retail, the top 1% captures 88% of rewards, and the stock is ultimately worth zero.

Olam's surprise $750m Temasek-backed debt raise — at an effective cost over 10% — validates Muddy Waters' thesis that the company is days from collapse; Strong Sell maintained.

Olam's 45-page rebuttal ducks Muddy Waters' real points; we'll pay S&P to rate Olam's debt and prove the market underprices its accounting and acquisition risk.

Olam is an Enron-style agri trader whose aggressive non-cash accounting, off-the-rails CapEx binge, and 9.3x leverage mask a failing trading business — equity likely worthless, bonds 14-33¢.

New Oriental is hiding an extensive franchising operation, filing fraudulent tax-exempt financials in Beijing and using a cosmetic VIE — expect a restatement and Deloitte to resign.

GMCR's $9 EPS bull case ignores a smaller TAM, falling K-cup attachment rates, a September 2012 patent cliff, and accounting shenanigans at fulfillment agent MBlock — realistic EPS is ~$3.50.