dar, I follow your logic, but my question would be, Is there any reason why DB can't 'churn' the short position using the undelivered shares as backup? They know they have a fixed 'contract formula' price and shares to deliver once Hamo issues the shares. Any 'buy to cover' below their original short and any short sale above their fixed price is money in the bank for DB? Based on the number of shares they have to work with, the likely effect would be volatility within a price range and unusual level of short activity.
I have come to the conclusion that the NRF short volume is being driven by Hamo's 'Forward Sales' agreements? Keeping the math simple, assume you agree to be the underwriter for a 'forward sale' of say 50m shares at an underwritten price of $18 exclusive of any interim dividends. Now, the stock moves up to$19 and the shares have not been delivered. You think you might 'short' your future position for a guaranteed $50m? The stock moves back down to say $18.....so you cover. The stock gains back upward momentum as you cover. And, what's your next move? And so on. As long as the forward commitments are out there, NRF is range bound! IMHO
You saying you make your living as a trash handler? Truck driver or can man?
I know that large firms that manage numerous 'focused funds' are constantly rebalancing to insure that they stay within their 'advertised' prospectus guidelines. Any underperformance, and that is the first place the attorneys look to make a case for their disgruntled clients. I cant imagine that there is any flexibility for an index to wavier.
Otherwise, the index will not be balanced for a period prior to the effective date of inclusion. Same would apply for the tracking funds! If the index (or tracking funds) buy too early they take on an unacceptable risk that the adds (NRF, etc) move significantly either way and they are in violation of their charter. I see most of the real action the week of May 24! IMHO
I decided to count my hoard of #2 pencils again. To my dismay, they had almost all disappeared! My wife apparently donated them to a local church that was having a 'yard sale'. I am now down to only a few thousand left. They are still each worth more than a GRPH share, but, oh the pain of the unexpected consequences of investing in new technology! Is it too late to accumulate more pencils? The predicted graphite price spike still hasn't taken place......? Maybe the company can send out another 'investor alert letter' to update potential investors on the huge opportunity that lies ahead!
in light of the $141m they just paid themselves? It obviously wasn't due to lack of money!? Of course management's interests are 'aligned with shareholder's interests', right, Hamo?! You need to come up with a new line...
No increase in Dividends for either NRF or NSAM!
You seem like a really smart guy jack. You should double down on your short position. Stupid as it may be, I will continue to increase my long! But, what do I know compared to you, Jack...?
Just for starters, how can the property ever be returned substantially in its original condition (as required by the lease) to PWV if the oil, gas, coal and so on have been sold and removed? Please help one understand how the inspection of records and documents clause is ambiguous in any way, as you have interpreted? I guess it is OK, by your ruling, if the renter of a house removes the copper pipes, wiring, fixtures, lawn turf and so on unless it is specifically spelled out that they should not in the rental agreement? Sad, your honor...very sad! IMHO!
I think GE management is just as confused regarding the SYN spin as shareholders are. It was apparently a random announcement made before they had a plan. Now, someone has pointed out that there will be an impact on GE earnings going forward! Oooops.....now what? What a bunch of Bozos!
Hey walrat, when was the last time you spent any time in Greece? Didn't think so! As usual, you are playing expert on something you know nothing about! Get a job.....!
How many months will it take for management to give it all back to themselves? Can they buy it back fast enough to outpace their giveaways? I'll believe this is a good move when I see the share count actually drop!
SA looks pretty stable next to the PAL clowns performance! IMHO
Let the lawsuits begin!