Even if the cash on hand translated to additional corresponding market cap (Which it hasn't) and your portfolio stayed the same or even went up, that doesn't change the fact that you now own a smaller % of the company. It's still dilution.
And it's a heck of a lot easier to say you don't mind (Loof) now that we're on an upswing than when we were getting beat into the ground. Didn'y you cash out at one point after the 80% haircut?
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