Cyprus-Forum.com

[Paphitis]

QANTAS 2 years ago declared a loss of nearly 1 Billion but it was a technical loss because the sold depreciated planes and had dozens of new orders for Boeing 787, 777 and Airbus 380 and 350s

The previous year they were in profit and the following year declared a Billion Dollar profit.

When a company declares a loss, it sometimes isn’t a loss and you need to look at why there was a loss. The company could be spending on purchasing assets and making a technical loss that way and they do this to avoid paying tax too.

Brokers know how to decipher the data by looking at the claimed expense ledger to see that the loss was a technical loss due to buying other assets. In other words it’s not a loss at all but a constructed loss on paper.

They also depreciate their fleet to reduce their profits but these claims are annotated as “depreciation” as well

[Pyrpolizer]

Guys, as the saying goes, idou i Rodos idou to pidima.
I dont much care for past performances, i idendify a company undervalued and likely to be pounced upon and I buy. I have thus far given you 2 stocks. Tomtom and Ripple XRP. Will give you another one.A biotec stock, Kalapagos. Currently at 93.74 euros.
This one for long term investment.
Who cares if a share was traded at 100 euros 5 years ago and now down to 1 cent.
I will buy if I think it will double my outlay.
Its realy simple.

Yes but you said earlier that you study the financial reports of the companies and buy only those whose stock prices are undervalued.
Did you really study the financial reports of TomTom???
And If you did, what makes you so sure the books have not been cooked anyway?

These listed companies are audited by independent accountancy firms who sign off on the Financial reports and statements to the Securities and Investments Commission. All these reports are downloadable from the Stock Exchange because every listed company must lodge them.

If they cook anything, the accountants and the board of the company involved are looking at jail time.

In addition, if you cook the books, you pay tax.

The UK, Australia or US isn't Cyprus where anything is possible.

Obviously only in Cyprus everything is possible, hey Paphitis?

https://www.theguardian.com/business/20 ... on-olympus
https://www.businessinsider.com/why-big ... ks-2014-12

[Paphitis]

Guys, as the saying goes, idou i Rodos idou to pidima.
I dont much care for past performances, i idendify a company undervalued and likely to be pounced upon and I buy. I have thus far given you 2 stocks. Tomtom and Ripple XRP. Will give you another one.A biotec stock, Kalapagos. Currently at 93.74 euros.
This one for long term investment.
Who cares if a share was traded at 100 euros 5 years ago and now down to 1 cent.
I will buy if I think it will double my outlay.
Its realy simple.

Yes but you said earlier that you study the financial reports of the companies and buy only those whose stock prices are undervalued.
Did you really study the financial reports of TomTom???
And If you did, what makes you so sure the books have not been cooked anyway?

These listed companies are audited by independent accountancy firms who sign off on the Financial reports and statements to the Securities and Investments Commission. All these reports are downloadable from the Stock Exchange because every listed company must lodge them.

If they cook anything, the accountants and the board of the company involved are looking at jail time.

In addition, if you cook the books, you pay tax.

The UK, Australia or US isn't Cyprus where anything is possible.

Obviously only in Cyprus everything is possible, hey Paphitis?

https://www.theguardian.com/business/20 ... on-olympus
https://www.businessinsider.com/why-big ... ks-2014-12

In Cyprus laws are not enforced. You just need to look at the recent Financial Crisis.

If any shenanigans are detected on the markets where companies “cook the books” then potentially you are facing jail time. We have agencies that overlook, and regulate the industry to keep it as clean as possible. A lot of people have tried to fuck around and they paid the price here. Law enforcement isn’t a joke here.

Case in point when the police pull the Prime Minister over and give him an infringement notice for not wearing a seat belt.

[Maximus]

This is not the point Paphitis,

The point is that the books can be "cooked" and it happens in every country and not only in Cyprus.

Counter arguments from then, that the law is enforced in those country's and not in Cyprus is an irrelevant (possibly false) diversion from the point.

Whenever I hear the "only in Cyprus" arguments, I know it is only a regurgitation of indoctrinated dogma's.

[Maximus]

You cant change the investment decision you may have made on 'cooked' information after the law is being enforced.

[Pyrpolizer]

In Cyprus laws are not enforced. You just need to look at the recent Financial Crisis.

If any shenanigans are detected on the markets where companies “cook the books” then potentially you are facing jail time. We have agencies that overlook, and regulate the industry to keep it as clean as possible. A lot of people have tried to fuck around and they paid the price here. Law enforcement isn’t a joke here.

Case in point when the police pull the Prime Minister over and give him an infringement notice for not wearing a seat belt.

Which law was not enforced that brought up the Financial crisis??

[Paphitis]

This is not the point Paphitis,

The point is that the books can be "cooked" and it happens in every country and not only in Cyprus.

Counter arguments from then, that the law is enforced in those country's and not in Cyprus is an irrelevant (possibly false) diversion from the point.

Whenever I hear the "only in Cyprus" arguments, I know it is only a regurgitation of indoctrinated dogma's.

I don’t believe that is the case Maximus.

Usually when they fudge it it is to show less profit for tax. That is not cooking the books. You would have to be stupid go the other way, because that costs money in the form of tax.

Looking at your example. A company can purchase a software for 50,000 and take it off their bottom line and then write up a 50 k asset on its ledger which they can depreciate over time.

Like QANTAS does when they buy planes. Like every other company does with plant and equipment.

This isn’t fudging. It is perfectly legal too. And everything is accounted for in the Balance Sheet.

Authorities have no issue with this at all.

[Paphitis]

In Cyprus laws are not enforced. You just need to look at the recent Financial Crisis.

If any shenanigans are detected on the markets where companies “cook the books” then potentially you are facing jail time. We have agencies that overlook, and regulate the industry to keep it as clean as possible. A lot of people have tried to fuck around and they paid the price here. Law enforcement isn’t a joke here.

Case in point when the police pull the Prime Minister over and give him an infringement notice for not wearing a seat belt.

Which law was not enforced that brought up the Financial crisis??

I don’t know Pyro.

Cy Markets are just something I won’t touch because they are small and I do t trust them at all because my impression of Cyprus is that there isn’t a lot of accountability.

I feel more comfortable with US and Australian markets because I feel they are better, less risky and that there is some form of accountability. I feel more protected.

[Maximus]

I feel more comfortable with US and Australian markets because I feel they are better, less risky and that there is some form of accountability. I feel more protected.

CySEC has more experience regulating brokerage firms because they have more firms under license in their jurisdiction, with more applying every year. Limassol is the online trading capital of the world.

You actually have more protection under CySEC because the EU has ESMA which is the supranational regulator for member states.

If ASIC and the SEC are 'better' regulators, then they have only become so because they have had to evolve as a result of scandals.

Which kind of defeats the argument that the books can only be 'cooked' in Cyprus, among other things.

As far as trading / investing markets goes, you cant compare the Cypriot domestic market with that of large economies like US, UK, Australian or Germany. Those large multinational companies listed on the stock exchanges from those countries are in a different league.

[DT.]

Cysec is not a safer regulator just because it puts up with a bunch of cowboy forex and until recently binary brokerages. They’re here for tax and “EU” regulation, but everyone knows that half these firms would not have survived a day under a better regulator.

Can’t compare the regulation provided by an FCA with that of Cysec. As far as markets are concerned, there is no market in Cyprus. Thin liquidity, low volumes, a bunch of low cap stocks that still owe accounts from years before. It’s a joke.