food for short food for thought ya gotta larf, page-8

rupe - it matters not that UBS don't acrually hold them - they are the prime broker. Basically they have lent $$ against secirty being shares etc including RRS - which nominee holds them is irrelevent. Once the margins hits UBS sell and the shares settle via the nominee.

Until the margin calls stop the selling will not as far as I can see. We are paying the price of having hedge funds as holds - when times are good they are you best friends - when they are bad they are your worst enemy.