Schwab is at about 93%, but that is likely lower because of double-counting... Ted needs to be exposed as the moron he is.
"When an institution lends a security, it technically
no longer owns the security and carries it as a security receivable. Yet, the SEC requires that
such an institution report the security as if it owned it on the rationale that the institution is still
exposed to the risk of that security even if it does not have legal title. This is a reasonable
rationale for the purpose of analyzing individual portfolios. For the purpose of analyzing trends
in aggregate holdings, though, this SEC reporting requirement can result in a double-counting of
the same security, which will occur if both the institution that lent the security and the one that
ultimately holds the security are required to file a form 13F. Indeed, we find that the ratio of
institutional ownership to the total market value of an individual security sometimes exceeds
one, and a likely explanation of this observation is the double-counting associated with lending
for 13F filers."
Once Affymax traded below $5, large funds are FORCED to sell. They will not hold securities below $5.00. This is a rule written in stone with the largest funds in America. Sorry but I told ya so a few weeks back.