FBG, I know that obviously. The question isn't about what shares Adage currently still holds. The question is how many of them do they plan to keep holding? And for what reason did Adage sell some of their shares at the bottom (at least the bottom so far)?
We are all stuck in a very intense chess game, so don't think of things in terms of checkers.
FBG --- On paper (filings) Adage is still long but off balance sheet isn't that the obvious smoking gun given the large, long established short that has evolved since they came on board? Are they truly still long or have they long ago neutralized their position or further become net short? They are after all a "Hedge" fund which means they will trade in the securities they are involved! Given the manipulation conspiracy theory it stands to reason the true state of affair might be Adage is in the process of re establishing a long interest.
Somewhat OT but appropriate nonetheless: For all the Godfather buffs, I think the obvious line to summarize Adage in all this is "it was Barzini all along."
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