... recovering from the shock and beginning to think .....
What do you make of the FMR filing? What's this mean?
... First of all, I think we should avoid the usual defense mechanisms -- it didn't happen, it shouldn't happen, FMR is stupid, FMR go bamboozled, etc. etc. As I see it, all rationalizations denying the reality that something surprising happened which is totally contrary to our strongly held belief and understanding of KKD.
... The cold, hard reality is that FMR has reported taking an 8 million share position in KKD, a good portion within the past 5 weeks. Further, that FMR is professionally managed, has the usual oversight controls, and is in business to make money for its shareholders.
... Clearly, FMR invested some $250,000,000 in KKD shares to make money.