Latest news on SAC and why shorts are in TROUBLE!!!
Bloomberg streams SAC expects 1B in redemptions in 2013. They have 14B undermanagement. They have to sell one 14th of their assets to return 1B in cash to clients. They currently own 400M dollars worth of Siri. They could sell it all but they won't. Even if they did Siri is going to buy back 2B dollars. More likely they have been selling ahead of the redemption date in Febuary. What are they selling? Probably not Siri. They are pobably selling their losers and will be even more profitable in 2013 for their clients. They would like to see a Siri Squeeze in 2013 too! Even if they sold equally across the board that would only be 10M shares of Siri. At the current price, Siri is going to buy back over 600M.