Stockman: "They Do Ring A Bell At The Top: Alibaba Proves Wall Street Is Off Its Rocker"

Hilarious:

"before the day was over it was trading at 27X the LTM sales posted for a shell in the Cayman Islands—-an entity on the word processor of a law office located there which may or may not receive actual cash dividends and honest accounting statements from a myriad of entities that do countless things in China."

Funny Comment About Alibaba IPO

"as a shareholder, you are not becoming part owner of Alibaba, the Chinese online merchandiser, but instead get a share of a shell entity (the Cayman Islands based variable interest entity) that controls the operating company through a legal agreement (that exists because the Chinese government treats it as such, for the moment)"

Hilarious! Some people never learn...