@BillAckman Directionally I don't disagree but where do you think all the migrants are coming from? And what triggered their migration in the first place...?
@SplitCapital I think history has shown that most teams, whether in crypto or not, are extremely bad at understanding what is fair market value of their stock/token.
The point is if you do buybacks they should be regular and consistent, not opportunistic or the market won’t value it.
@BarackObama I shook your hand in Belgium last year. Your party’s behaviour is equally laughable, it just happens behind closed doors. I think a lot of people see through dems’ attempt to monopolise the moral high ground while inflicting just as much damage to democracy as Republicans do.
@jon_charb If arbitrage is done effectively shouldn’t the stock just trade at NAV minus costs, eroding any kind of xxx/share accretion potential longer term?