Tuesday, February 17, 2015

Making A Less Than Noble Exit

Special thanks goes out to Felix for highlighting the report released by Iceberg Research

It was very easy to verify their actually pretty obvious findings.


2013 Annual report lists Yancoal's recorded value at US$677,608,000. They only own 13% of the company.

Bloomberg lists Yancoal's ENTIRE market cap at AUD$99,420,000.

Problem?

Big problem.

Is it a nonsense report? Maybe. Could the stock crash a lot lower from it's current value? Maybe. I don't want to find out.

This is not something that I took into account when I purchased the stock, so I am running away from this with my tail between my legs.

On the bright side, I made 3.9% gross from this investment of 3 weeks. After deducting fees, I should still be up about 3%. Not too bad as a "trade", I suppose!

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