CPI Property Group S.A. (CPIPGR): MW Questions for CPI PG’s April 8th Annual Results Conference Call
In an open letter to Mr. David Greenbaum, Muddy Waters submits the following questions with regards to CPIPG’s 2023 annual results.… more
In an open letter to Mr. David Greenbaum, Muddy Waters submits the following questions with regards to CPIPG’s 2023 annual results.… more
Because Fairfax noted that we had not previously asked questions of its management on its calls, we hereby submit a list of questions and requests for disclosures to the benefit of all investors (including Muddy Waters, which remains short).… more
Muddy Waters is short Fairfax Financial Holdings Limited (FFH:CN) because we find that Fairfax hasconsistently manipulated asset values and income by engaging in often value destructivetransactions to produce accounting gains. We believe a conservative adjustment to book value should be ~-$4.5 billi… more
Muddy Waters is short the credit of CPI Property Group ("CPI PG"). To date, we've shown how CPI PG's controlling shareholder, Radovan Vitek, has stripped the company of assets and how CPI PG has significantly inflated the values of its investment properties. In this Part III, we're showing a seri… more
Muddy Waters is short the credit of CPI Property Group ("CPI PG"). CPI PG's Berlin office portfolio appears significantly overvalued based on the divergence in its valuation from overall German market trends. This Part 2 addresses CPI PG's valuations of its purported €19.2 billion investment propert… more
Muddy Waters is short Blackstone Mortgage Trust (BXMT US). Interest rate swaps and manipulated risk ratings / loss provisions have obscured serious deterioration in BXMT's loan book. Muddy Waters believes that starting in 2024, as an estimated $16 billion of swaps terminate, the following problems w… more
On November 21st, we began the process of publishing our findings on the myriad issues inherent in CPI Property Group that should call into question how a company operating in this manner could maintain an investment grade rating. CPI PG has thus far failed to provide alternative explanations for th… more
Muddy Waters is short the credit of CPI Property Group ("CPI PG"). We conclude that CPI PG's controlling shareholder Radovan Vitek ("Vitek") has been brazenly looting the company while significantly overstating the value of its assets. CPI PG's corporate governance is farcical. We are also concerned… more
Block on CNBC’s Squawk Box discussing MW's latest short, eHealth Inc. Watch the full interview here… more
Block on Bloomberg discussing MW's latest short, Burford Capital. Watch the full interview here… more
Block on CNBC Squawk Box discussing a new kind of activism - morality shorts. Watch the full interview here.… more
Block on Yahoo Finance Video discussing morality shorts. Watch the full interview here.… more