The high profile standoff between Muddy Waters and Olam is not about something new. Earlier this year in June, I wondered at Olam's share buy backs as well. I blogged about it and attached a section of research done by Kim Eng on the company then. What Muddy Waters has said does make sense and Olam has to focus on its business rather than its share price. Should Olam come to collapse (as we believe it will), its use of much-needed cash to buy back shares at this time should give rise to questions about whether fiduciary responsibilities have been breached – particularly given the possible existence of individual motivations that are not necessarily aligned with those of Olam’s lenders.  - Taken from Muddy Waters' open letter to Olam. To read the letter in full, go to Muddy Water's website: here. So, is Olam going kaput in time? I know that Sunny ......