I agree with the greed aspect. I have heard fund managers say...

I agree with the greed aspect. I have heard fund managers say sometimes you just have to pick the greedy ones (execs) and follow them. But the key here is putting their own cold hard cash and comparing that to the cash they are pulling out via these 'related party transactions'.

The one critical thing for me with JAT is that the new CFDA/SMRA certification was put in place to stop companies exactly like JAT i.e. shell company doing IF with unknown brand. But again each to their own with risk/reward but I just can't see any actual company returns (NPAT) so IMHO your returns are likely to be based on hype announcements and investor sentiment.