roc target price $1.51, page-27

BH

You obviously have a far broader view of the machinations of the market than the average punter, and for that we can be thnkful for your insights. I am still questioning whether it makes sense in this case for the reasons I have outlined.

Where i am confused about what you are trying to say is that you now say

"Yes, I understand what you're saying. However, my point is that JP Morgan has a business (a large one, at that) whereby they go out and buy a whole load of shares in certain companies which are "representative" of a range of sectors, all around the world, and hold those shares for the explicit purpose of lending them out to their clients."

Which would seem to indicate that JPM are not acting as custodian ie they are lending out via their own float. Now arent they then directly exposed to the share price fall as I originally argued? Therefore what is in it for JPM? Perhaps they are acting on behalf of someone who has a vested interest in ROC's shareprice that will later reward JPM. I am specifically thinking that a predator would be happy to see the sp as low as possible, and perhaps fund the cost to JPM . JPM perhaps through their IB arm could also be the adisor on such a takeover. i have no reason to suspect this is happening other than to try to explain why the above is happening