So, then, relative to a big seller (like, say, Koch), once the MMs buy the shares, they either add them to their "inventory" for a runup or sell them. But who would they sell them to to make a net profit????? It doesn't make sense to me that MMs make money selling to just each other. Do you think they are covering shorts this way? If not, who would they be selling to? All sorts of people come to mind...Urban retiring shares to the treasury, the Lundins, DeBeers, someone who wants the claims now that ownership of CMKX and the JVs are becoming intertwined...?
