tag:blogger.com,1999:blog-7478408299955066555.post7181770446143365600..comments2024-02-21T05:08:31.128-05:00Comments on Deep Throat: The BABA 20-F....Financial Comedy Gold!!Deep Throathttp://www.blogger.com/profile/02712515268051858186noreply@blogger.comBlogger42125tag:blogger.com,1999:blog-7478408299955066555.post-83745368507261224672018-10-23T11:39:46.686-04:002018-10-23T11:39:46.686-04:00I aksed a former colleague in Hong Kong about $BAB...I aksed a former colleague in Hong Kong about $BABA. He said its owned by the top 10 CCP families and Ma is just a figure head who has been retired now. And yes its basically an SoE style of management so corrupt from top to bottom. Strategic macrohttps://www.blogger.com/profile/13718957223946001551noreply@blogger.comtag:blogger.com,1999:blog-7478408299955066555.post-82619950923312764132018-10-19T04:21:33.290-04:002018-10-19T04:21:33.290-04:00Trump apparently wants to pull out of the UPU in p...Trump apparently wants to pull out of the UPU in protest against China’s artificially cheap shipping costs for parcels: www.scmp.com/news/china/politics/article/2169031/donald-trump-pull-us-out-postal-alliance-latest-move-targetingAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7478408299955066555.post-53679197484843631662018-10-14T03:47:34.029-04:002018-10-14T03:47:34.029-04:00https://twitter.com/Jkylebass/status/1051256440353...https://twitter.com/Jkylebass/status/1051256440353169408Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7478408299955066555.post-2291193826765149842018-10-11T10:50:16.845-04:002018-10-11T10:50:16.845-04:00Great investigation! I still think BABA is a pyram...Great investigation! I still think BABA is a pyramid scheme. Nothing makes sense, especially the enormous "Interest and investment income" relative to revenues. It looks like they are creating shell companies, then acquiring the shell companies, and then re-valuing / performing arms length transactions on the shell companies to book gains into "Interest and investment income". Considering how much money income they claim to have, they borrow larger and larger amounts every year for acquisitions. I would not be surprised to hear them one day announce that their Cash asset and Investments in equity investees turn out to be worthless / fake.RIhttps://www.blogger.com/profile/16016643710423549268noreply@blogger.comtag:blogger.com,1999:blog-7478408299955066555.post-28022726730274380162018-09-16T05:46:28.144-04:002018-09-16T05:46:28.144-04:00Just look at this chart to see how manipulated Chi...Just look at this chart to see how manipulated China's economy is (via debt):<br /><br />https://twitter.com/investentropy/status/1040666949045379073<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7478408299955066555.post-87028475612522382242018-09-08T01:20:19.363-04:002018-09-08T01:20:19.363-04:00I cant tell whether I'm engorged because of th...I cant tell whether I'm engorged because of the patent insanity which merits comic relief or the abandonment of pecuniary onus which brings about internalized rage. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7478408299955066555.post-18578088919805293872018-08-26T15:46:07.621-04:002018-08-26T15:46:07.621-04:00So what is your 2 cent on the last Q?
It seems ver...So what is your 2 cent on the last Q?<br />It seems very "off" in my view....Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7478408299955066555.post-70306564330706940152018-08-24T13:00:11.803-04:002018-08-24T13:00:11.803-04:00Great work as always. I am also curious as to your...Great work as always. I am also curious as to your thoughts on JD? The New Yorker ran a great piece on them a few weeks ago.<br />https://www.newyorker.com/magazine/2018/07/23/how-e-commerce-is-transforming-rural-china?currentPage=all<br />Anonymoushttps://www.blogger.com/profile/17571387580120712009noreply@blogger.comtag:blogger.com,1999:blog-7478408299955066555.post-73800785787582238422018-08-22T20:31:01.572-04:002018-08-22T20:31:01.572-04:00Great analysis.
One point to share some thoughts...Great analysis. <br /><br />One point to share some thoughts on is around the processing fees. <br /><br />Amex fees are some of the highest in the industry and would not be a good benchmark. <br /><br />Any retailer of significant volume could be well below 2% depending on the market - as interchange is regulated in many places. <br /><br />The economics of how AliPay can collect and distribute payments is quite different to your traditional card schemes - so % of transaction fees at 0.15% is completely doable for them (plus they’re monetising the data on the other side of the txn). <br /><br />Just wanted to chip in. <br /><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7478408299955066555.post-50405718199612146852018-08-22T07:39:20.306-04:002018-08-22T07:39:20.306-04:00I read "Finding Inner Peace in Dharamsala&quo...I read "Finding Inner Peace in Dharamsala" last year with amazement! Wrote to Alibaba notifying I was a large stockholder requesting clarification on the serious allegations in your article. Guess what, I never rec'd a reply. Continued to hold the stock as it kept rising but finally sold all a few months ago. (Actually I retained 50 as a momento.) I'm surprised your latest, impressively researched, article isn't being picked up on far and wide sending shockwaves through gullible investors. Will be interesting to see what happens tomorrow pre-market when ER come out.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7478408299955066555.post-6397911680404886992018-08-22T06:24:05.254-04:002018-08-22T06:24:05.254-04:00Great stuff
ThanksGreat stuff<br />ThanksAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7478408299955066555.post-85170163630169155842018-08-20T10:48:34.559-04:002018-08-20T10:48:34.559-04:00A relatively popular podcast show recently did a w...A relatively popular podcast show recently did a whole episode on Jack Ma and Alibaba. Perhaps the show is of interest to you or, perhaps, you could join them and raise some questions. (Listen to TIP203: Learning from Billionaire Jack Ma and his company Alibaba (Business Podcast) from We Study Billionaires - The Investors Podcast in Podcasts. https://itunes.apple.com/us/podcast/we-study-billionaires-the-investors-podcast/id928933489?mt=2&i=1000417659106)Wintermutehttps://www.blogger.com/profile/02347385952117106560noreply@blogger.comtag:blogger.com,1999:blog-7478408299955066555.post-12668059818309981332018-08-20T10:02:50.057-04:002018-08-20T10:02:50.057-04:00Hilarious! Please put me on your mailing list - g-...Hilarious! Please put me on your mailing list - g-mail didn't recognize your address Deep.Throat.IPO@Gmail.com. Or put your articles on Seeking Alpha, where I found the link. I'm murraysonia407@gmail.com. Thanks!Anonymoushttps://www.blogger.com/profile/01576342818912996459noreply@blogger.comtag:blogger.com,1999:blog-7478408299955066555.post-1472992495156994222018-08-20T08:09:29.105-04:002018-08-20T08:09:29.105-04:00kudos to you, sir. Very impressive part-time work...kudos to you, sir. Very impressive part-time work. You are officially bookmarked.Anonymoushttps://www.blogger.com/profile/02942415585834051555noreply@blogger.comtag:blogger.com,1999:blog-7478408299955066555.post-68329125846569980312018-08-19T19:49:55.995-04:002018-08-19T19:49:55.995-04:00Great Article sir! I am curious what are your thou...Great Article sir! I am curious what are your thoughts about Baba's biggest rival - JD. Thank you!Unknownhttps://www.blogger.com/profile/00969083397531352026noreply@blogger.comtag:blogger.com,1999:blog-7478408299955066555.post-64355651199215876022018-08-19T16:46:45.786-04:002018-08-19T16:46:45.786-04:00Fantastic piece. Well done.Fantastic piece. Well done.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7478408299955066555.post-40852466558984780032018-08-18T02:09:42.790-04:002018-08-18T02:09:42.790-04:00How did you calculate the value of Alibaba Health ...How did you calculate the value of Alibaba Health for e.g.? Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7478408299955066555.post-53701514638341680062018-08-17T09:24:37.810-04:002018-08-17T09:24:37.810-04:00Well he doesn’t name all 40 but Jack, Simon etc.. ...Well he doesn’t name all 40 but Jack, Simon etc.. are mentioned. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7478408299955066555.post-16564248019280058622018-08-17T09:21:10.864-04:002018-08-17T09:21:10.864-04:00One guess. Probably a simple decimal point error. ...One guess. Probably a simple decimal point error. Too busy making other stuff up to check the details on things that might actually have been accurate (without the error)? Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7478408299955066555.post-61590843020569051112018-08-16T17:05:48.983-04:002018-08-16T17:05:48.983-04:00An amazing post. Thank you for the time and effort...An amazing post. Thank you for the time and efforts that went into this. You're an accounting beacon of hope in the fog! Thanks also for the laughs. Keep'em comingAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7478408299955066555.post-53855526775140793432018-08-16T00:55:00.064-04:002018-08-16T00:55:00.064-04:00Great post. Thank you as always. I'm a bit unc...Great post. Thank you as always. I'm a bit unclear on your final note regarding shorting though. I'm guessing you mean it's a bad idea until certain things play out? Both BABA and Altaba can both be shorted via put options, or am I mistaking terminology? I actually own a few way out of the money puts options on BABA.dave janghttps://www.blogger.com/profile/12586207464069724717noreply@blogger.comtag:blogger.com,1999:blog-7478408299955066555.post-62628175446822962122018-08-15T09:39:27.986-04:002018-08-15T09:39:27.986-04:00baba bought a big department store last yearbaba bought a big department store last yearAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7478408299955066555.post-29604217822709431552018-08-15T05:35:04.447-04:002018-08-15T05:35:04.447-04:00BABA is probably the worst offender but WUBA is pr...BABA is probably the worst offender but WUBA is pretty hilariously bad too. Incredible how a 9 billion dollar company can't design a website, despite being in the ecommerce space... Jamesnoreply@blogger.comtag:blogger.com,1999:blog-7478408299955066555.post-67505369572046247932018-08-15T04:48:52.179-04:002018-08-15T04:48:52.179-04:00Respectful work, one could tell you spend lots of ...Respectful work, one could tell you spend lots of time doing the research. However, I have to say on a bigger picture its full of lack of understanding of baba and China. just wonder have you been in China? have you shopped on Alibaba?<br /><br />huge office space increase is misleading, coz baba acquired a department store, of course there are lots of space. How much space macy's has? Your point on GMV also puzzling, you can't understand the scale of eCommerce in China. And I don't know how could you discount further to 1/3 based on the currency. This is such wishful thinking. If that happens, the whole market is going to tank. <br /><br />One should first take out one's prejudice before doing any research. Unlearning what is in one's mind is more difficult to learn something new. <br /><br />anyway thanks for doing the work. I hope no stupid followers to follow shorting baba. good luck with thatAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7478408299955066555.post-28983387308911731372018-08-15T00:57:01.625-04:002018-08-15T00:57:01.625-04:00very interesting analysis on this one! you nailed ...very interesting analysis on this one! you nailed the point.<br /><br />you are at least 90% correction on your points (your last few summaries on this scam.) Embarrassingly, 99% of the Chinese companies listed in US are doing the same thing (I am Chinese, and I dont even trust their numbers..)<br /><br />Anonymoushttps://www.blogger.com/profile/00117481664744651057noreply@blogger.com