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  "documentTitle": "Groupe Casino Guichard-Perrachon SA (CO FP)",
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      "text": "The basic problem with Casino is that its financial statements are literally meaningless to understanding the company's (poor) health.",
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      "text": "Estimated Value: €6.91",
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      "text": "Our report peels away many layers of the onion to show that Casino is dangerously leveraged, and is being managed for the very short-term. We explain that Casino's shares are worth as little as €6.91, and correspondingly, the shares of Rallye are likely going to zero.",
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      "text": "Groupe Casino (CO FP) is one of the most overvalued and misunderstood companies we have ever come across. The basic problem with Casino is that its financial statements are literally meaningless to understanding the company's (poor) health.",
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      "text": "Casino and Rallye are now experiencing their version of a 'six sigma event'... Casino obfuscates these problems by (i) adding complexity to its already convoluted structure and financials, (ii) engaging in financial engineering, and (iii) hollowing out the productive value.",
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      "text": "Casino's controlling shareholder Jean-Charles Naouri is a genius... Mr. Naouri has an affinity for leverage. One would expect Casino to be a relatively boring hypermarket retailer; however, together with its parent, Rallye SA (RAL FP), Casino increasingly resembles a highly levered hedge fund.",
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      "text": "The full legal name of the listed company is Groupe Casino Guichard-Perrachon SA.",
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      "text": "Report Date: December 16, 2015; Company: Groupe Casino Guichard-Perrachon SA; Ticker: CO FP; Industry: General Retail; Estimated Value (€): 6.91 / share; Stock Price (€): 48.97; Market Cap (€): 5.66 billion; Float: 56.5m; Avg Volume: 724,000",
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