Ann: Invitation to Gold Coast Investor Briefing, page-136

The fact supporters put so much time into analysing this shows they are fearful and untrusting.

No its not unreasonable if you don't have total faith of a buyer for the tech in its current state, or faith the future state that could attract a buyer will eventuate. So low and behold :

1. DM is not highly confident it can be sold in current form. Not confident enough to hold onto as many shares as possible.
2. DM has doubts of 20nm success. Echoed by his 'consider free carrying' investment advice.
3. DM isnt drinking the coolaid many here are, and is acknowledging this is no way near a done deal and is managing his exposure.

Simple. But sorry for the 4ds disciples, it does mean this isn't guaranteed to sell for 20 billion next week, and Micron or NVDIA arent secretly waiting in the wings....or else his course of action would be different.