He's either accumulating with ears pinned back, or he's whacko....

He's either accumulating with ears pinned back, or he's whacko. Cannot fathom any other explanation. BTV sold a portion of their holding when the price was rocketing along, on the back of short term traders believing the HNC deal was done and dusted. Rememeber BTV has been under water for a long time, and is looking shaky with their June 30 Options exercise. So, they wanted to sure up a few more bucks in the tin. The sale left a neat 10% interest, which I think they were aiming to sell to HNC as part of the deal, and thereby complete the divorce from THR. (I will wager they are as miffed with HNC pulling the pin, as anyone) That is a guess on my part, but based on investing in this group for over 2 years, and knowing pretty much how they think.

Some time ago, I was astonished to see a Director of BTV sell prior to some very good announcements which shot the price up. I knew then, that these guys do not indulge in the sort of craziness which some posters are clearly alleging. Just my personal view, based, as I said, on a long term look.

I think THR will get through this little upset caused largely by HNC, and will surprise to the upside.