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Qihoo 360

Qihoo 360

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Published by anon_analytics
When a Nigerian Prince Files for IPO
When a Nigerian Prince Files for IPO

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Published by: anon_analytics on Apr 09, 2013
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Release Date: July 2, 2012
Qihoo 360
When a Nigerian Prince files for IPO
Ticker: QIHU:NYSERecent Price: US$17.29Market Cap: US$2 billionTarget Price: US$32.50Implied Return: 88.0%
Delisting
You should have expected usanonanalytics@neomailbox.netwww.anonanalytics.com
 
 1Any investment involves substantial risks, including complete loss of capital. Any forecasts or estimatesare for illustrative purpose only and should not be taken as limitations of the maximum possible loss orgain. Any information contained in this report may include forward-looking statements, expectations,and projections. You should assume these type of statements, expectations, and projections may turnout to be incorrect.All facts, figures, and opinions are as at the last practicable date. This document has been prepared forinformational purposes only. This document is not an offer, or the solicitation of an offer, to buy or sell asecurity or enter into any other agreement. However, if you do decide to buy shares of Qihoo, maybeyou should consider parental locks on your trading account.We have made every effort to ensure that all information contained herein is accurate and reliable, andhas been obtained from public sources we believe to be accurate and reliable, and who are not insidersor connected person of the stock or company covered herein or who may otherwise owe any fiduciaryduty to the issuer. However, we do not represent that it is accurate or complete and should not berelied on as such. Anonymous Analytics is not a registered investment advisor.Do not assume that any company mentioned herein has reviewed our report prior to its publication. Wemake no representation or warranty, expressed or implied, in respect to the information contained inthis report and accept no liability whatsoever for any loss or damage arising from any distribution orreliance on this report or its contents.We are not short sellers. Anonymous Analytics holds no direct or indirect interest or position in any of the securities profiled in this report. However, you should assume that certain contributors to thisreport, as well as their members, partners, affiliates, colleagues, employees, consultants, clients and
investors, as well as our clients have a short position in the stock of Qihoo 360 (QIHU:NYSE, “Qihoo” orthe “Company”) and/or options of the stock, and therefore stand to gain substantially in the event that
the price of the stock declines. You should further assume that following the distribution of this report,the aforementioned individuals and entities may continue transacting in the securities covered therein,
and may be long, short or neutral at any time hereafter regardless of this report’s initial
recommendation.We waive our right to copyright protection laws as they pertain to redistribution. Accordingly, any partof this report may be reproduced
 –
in context
 –
without our consent. For the sake of congruency and
brevity, the terms “We”, “Us”, and “Our” may refer to our associates and consultants from this point
forward.
Disclaimer
 
 2A few years ago, the global Anonymous collective made headlines by hacking into corporate andgovernment servers. Morals and ethics aside, most within the collective saw this practice as a sort of sport, a way to pit their technical skills against what were supposed to be the best IT departments theworld had to offer
 –
those belonging to state governments and multinational corporations.As the wins and losses piled up on both sides, attacking servers and websites became cliché, if notoutright boring. Some within the collective sought other, more interesting challenges. With thisbackground, a cluster of us from Anonymous decided to enter the financial markets.Anonymous Analytics was established less than a year ago with the aim of using our skills to flush outcorruption in the corporate world. We started with China not because Chinese companies are engagedin more fraud than Western companies, but because they are less apt at covering their tracks. China isnew to capitalism, and Chinese managers are new to stealing money from the capital markets. But givethem a few more years and they will learn how to hide their improprieties just as well as their Western
counterparts. After all, China’s specialty isn’t manufacturing –
 
it’s copying.
 
It’s this
inexperience that has made exposing Chinese companies so common. But just like hackingwebsites, exposing Chinese frauds has become cliché, if not outright boring. Accordingly, we haveturned our attention to several Western companies that may be surprised to find themselves in ourcrosshairs. We expect to release our first such report by year-end.In the interim, there is still more work to be done in China. This report is an example of that. This report
isn’t very long because it doesn’t need to be.
The proof of fraud is simple and took a single phone call toobtain.
It wasn’t our intention to
report on another Chinese company so soon, but sometimes finding smokinggun proof of fraud is too easy. Sometimes, management leaves the evidence in plain sight. Sometimes,all it takes to delist a multi-billion dollar company is a right-click of the mouse.Love us. Hate us. Anonymous.
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