I have been basically bullish on Chinese point of sale (or POS) terminal manufacturer Pax Global (0327.HK) (OTC:PXGYF) for some time, including a piece earlier this week that I wrote right before earnings. Now actions on the part of senior management force me to reconsider that position.
This is a good case study in the difficult gray area between quantifiable fundamentals and "feel." By no means does what Pax Global's CFO did rise to the level of a "crime" or some unconscionable offense against shareholders, but it does speak to a concerning lack of judgment in what is a key management position. While I'm sure there are readers who will cheer seeing a bearish analyst ejected from a company presentation, responsible investors should be alarmed that management is apparently so thin-skinned.
Read more here:
PAX's CFO Just Made A Grievous Error