$Super Micro Computer (SMCI.US)$  if super micro reports bad...

10baggerbamm : no one is going to trust their earnings they need to find an accredited accounting firm that will have the ability to audit their financials and they're not going to take their word for shit they're going to want to see all of the accounts all of the invoices they're going to want to validate the earnings because they're not going to sign off and put their name on a legal document of a publicly traded company when two accounting firms have quit. this is a lot more to that now so that's the billion dollar question who in their right mind is going to step up and certify that their financials are truthful and accurate when one of the big eight accounting firms through in the towel with a nice long letter that says we don't trust management.

CEO of Apes OP : It’s now only up 20% YTD.  If this taught me anything is that you got to take profits. Can’t hold on forever.

pootpoot 10baggerbamm : always sums up the best way possible. 100%

CEO of Apes OP 10baggerbamm : Yeah it’s incredibly risky, and people don’t see it. Problems are happening within the company and it’s serious. It’s looking like a CFO issue to me. Some miscommunication it seems

10baggerbamm CEO of Apes OP : I've been in a company that the CEO cook the books and it only takes one time you are scarred for life you never go near a company when you have an accounting firm quit on you. I was in a company a long time ago called HealthSouth rehabilitation they were killing it they were opening up in strip malls and shopping malls therapy rehabilitation centers you pull a muscle you hurt your back the doctor sends you you need therapy stretching whatever it is physical therapy they offered it.

10baggerbamm CEO of Apes OP : pt 2
they were listed top 100 growth companies and Business week Fortune Forbes go down the list the CEO was on TV yakking it up. this stock looked like it was going up a 45° line nothing was stopping it. on this young guy relative to what I am now I had a few bucks that I was able to save up I was a stockbroker at the time and I dumped a big chunk of my liquid cash into this company I bought a thousand shares at 29 and a half dollars it was a market order I filled like an eighth higher. the spreads were much larger back then than what they are now they were quarter spreads bid ask. no lie I was not an owner in this company for 2 minutes and it halted trading.

10baggerbamm CEO of Apes OP : pt 3
I'm literally freaking out back then there's no personal computers you had what was called a quotron and you're trying to read news from Dow Jones Reuters News services on any company you have a keyboard you would type it in and you would look to see what comes up.
Joe kernan was around along with David Faber they were on CNBC and we had that on in the office. and all of a sudden they break in HealthSouth rehab has halted trading the story that we are getting is there's implications of accounting fraud with the company. then he says it may or may not open today as soon as we get an update we'll let you know. maybe 20 minutes or so later 25 minutes and I'm pacing back and forth like an expecting father I think I wore the carpet out in like this 20-foot area in my office the stock opens up it was down 9.5 dollars. so that's $9,500 that's gone they just vaporized instantly and now you're faced with this tough choice what the hell do I do do I hold it maybe it'll bounce do I sell it? I sold it. it traded down that day I want to say 17 and a half 18 dollars so you try to justify well it could have been a lot worse even though you just got your ass handed to you.
as far as the CEO his name is Richard Scrushy, he was handcuffed by the SEC and any SDR which is the regulatory division and brought out in cuffs on television from his office
and he went to jail.
so that's why when there's red flags waving you've got tens of thousands of other companies to invest in stay the hell away unless you like pain and losses.