so, what does a hedge fund do when it looses over a billion dollars on an investment? well one can sell and move on, but Bill just recently bought more shares and he has puts on it for downside protection. However , I think the puts are nothing more to drive the price down. Since the bonds are down trading in a stressful matter, it seems to me the PLAN is for Bill to take Valaent private. Then in 2 years he will go public, or sell off the company. As a private company he has no one to answer to and personally , i think he can turn his loss into a multi billion dollar profit.
Now for those of you, who know the markets, think about Michael Dell, and his buying out Dell and 18 months later he is now after EMC. Where did all the money come from? So it would not surprise me in the least, if this is what Bill has up his sleeves.