Thursday, February 25, 2016
The amazing Zatarra Research piece on Wirecard
You can find the report here...
Wirecard has long struck me as suspect - and I have maintained a short for years (yes, literally for years).
I have tried to verify the assets purchased by Wirecard that became corporate goodwill and I could not verify. Indeed I could not even confirm existence of some businesses they purchased.
Generally I follow the advice of Ronald Reagan: trust but verify.
In this case I could not verify Wirecard's assets but I have not verified Zatarra's claims...
So this post links an unverified report of a seemingly unverifiable company...
Even after the down-draft today I am showing decent losses on the position. Not all shorts work out...
(Hat-tip to Dan McCrum who has also been sceptical of Wirecard.)
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