Mary,
I was just checking in to see what was going on here and saw the last week's spat with Mama Bear. Pretty funny. I don't have to go back to the old posts but well remember what went on. When the Apollo financing went through the whole flock of shorts showed up waving their SEC documents screaming about the number of convertible shares pre-existing and other sundry yellow flags. That was when RRRR spiked to 20. They were shorting between 17 and 20. They all disappeared when it got down to the 11-12 area.
Notable about their raid was their long-winded attempts to rationalize their own positions with claims that the company was being propped up through wizardry (my words, to put it in a nutshell). And, it was quite hilarious, if not pitiful, to hear them trying to "save" shareholders from themselves, implying ignorance amongst the fundamentalists. Just the same, it was notable how little any of them knew about the company's structure, plans and direction. Most disappointing to me was to see the un-hyped arguments of the longs being derided with what I considered then and is obvious in hindsight to be the anti-hype (?) of the shorts. They were on a mission and used words as weapons. It was as irresponsible as hype used by lesser longs elsewhere.
The moral of the story is that longs and shorts have their own agendas, each of which may be reasonable at the same time. However, the mercenary attitude of the RRRR shorts showed no class, something that you, Mary, had no lack of under fire. Congrats on your great returns.
Note: I sold my RRRR holding at 17 3/8 last April, considering it dead money at least through summer.
Regards,
CF Rebel |
