Slightly more than I had remembered. I consider there to be some...

Slightly more than I had remembered. I consider there to be some milk left but probably makes sense to close my short position at slightly above this to manage risk even if there's a reasonable chance imo that it goes slightly below asset value. I believe this is likely to get to $5-6 at some point but perhaps even holding a short at anything below $7 would be greedy.

Appreciate the effort you put in by the way, very thoughtful and intelligent posts.

To one of your other posts, I agree with one of your points about early stage active fund managers, although as is shown in the case of MFG they almost function like leveraged instruments in which the FUM can be margin called on a whim. Upside in early stages (as was the case with MFG) can be incredible leveraged upon inflows but ultimately they're at the mercy of FUM.

In terms of the debate on ETF's versus Active Fund Managers, I believe there will always be a place for Active Fund Managers in the industry. I like investing in early stage Active Fund Managers as there can be significant upside (also downside, limited by low initial investment). My investment focus is more on the US market these days.