LOS ANGELES (Reuters) – Two investors who say they have been making big money shorting Chinese stocks listed in the United States, fronted up to their adversaries this week -- in a mood to swagger.
At an event in Beverly Hills attended by some of the bankers, auditors, promoters and lawyers who have made a living out of listing Chinese companies on U.S. exchanges, the short sellers were brutal in their assessment of how widespread fraud had become in the sector.
"It's not a matter of whether they are fraudulent companies, it's just a matter of who they are cheating," 62-year-old Texas-based investor John Bird, who has been very public about his short positions, told a panel at DealFlow Media's Reverse Merger Conference 2011.
via news.yahoo.com
