Thursday, July 26, 2007

OilCorp III

My Dearest ToeBear,

  • Well said on the last sentence...I don't think fundamentally anyone should consider oilcorp's aim to list its property subsidiary D'tiara as something big to brag about..their performance/business model in property management is not profitable all the while...unless there's changes. else there are better stocks out there than this coverted black hole.
Full agree with what you are saying here. The reason why I blogged about OilCorp was because there were a series of postings attempting to promote this stock at Sahamas. ( See this forum posting thread here at Sahamas: Oilcorp. ) I find it truly incredible for they were attempting to suggest OilCorp as a good buy based on fundamental reasoning. I was appalled because the events that surrounded OilCorp since its listing was incredible.

In the first blog posting, OilCorp, from day one, there was the 'talk was simply cheap because supply is more than demand' syndrome. Huge boasts of billion dollar oil projects was suggested from the company since 2004. Till today, where's the projects?

And the events in 2005 was simply shocking when OilCorp was caught by SC for submitting accounts which were simply false! (Hello Megan! Hello Transmile!)

And the pathetic attempts from the company to simply split their stock is simply appalling!

We are talking about a stock that is trading around 1.50. Doing a stock split of 1 into 10 is simply a nonsensical corporate exercise of epic proportion!

And then drumming up the possibility of them listing their property business is simply a joke given its own existing track record.

However, in a hot market, there are simply too many cliches. We have the insider cliches, we have the bullish sentiments cliches and as such any given stock(s) does stand a chance of moving higher. This is a fact that is undeniable.

So in a hot market, does fundamental matter?

Does earnings valuation matter?

Does the integrity of the company matter?

I do wonder.

Well, if one is not an investor, of course, it probably does not matter.

Oh yeah, OilCorp is simply moving higher each day! LOL!