Jim,
"Where are the American buyers? The institutional buyers? They are very good at hiding their buys - how many people even guessed at the extent of the Canada Pension Plan's holdings? (Thanks, for that, Joe)."
I just made that observation to somebody I was talking to today. You're the only person to key in on that point so far.
In the past 6-9 months, the CPP bought 769,945 shares of DMX on the open market without anyone noticing! So anyone who said there was no institutional buying was, obviously, simply wrong.
"I have yet to see the proof that Acqua was the wrong decision. Personally, I don't like it any better than others, when the price gets scuppered: but the reality is, the price is holding up well, in a BAD market."
Over 1 out of every 5 shares sold since January 29, 2002 have been Acqua shares. The math is simple:
(January 29, 2001 to August 13, 2002)
Total shares traded - 24,298,400
Total shares traded by Independant Trading (84) - 2,985,559
Total shares traded, less IT (84) - 21,312,841
Total shares sold by Acqua - 4,584,554
% Total trading accounted for by Acqua - 21.6%
Considering a 21.6% overhang of shares during "the greatest bear market in recent history," I'd agree that the price has held up reasonably well.
joe |
