not surprised, page-13

PC's comments also frustrate me, however, when I think about it he is correct.

The fact is that most of the people who buy shares on these types of announcements do not have a long term perspective or view of the company. They are buying to profit from an event without understanding BTA. This makes them speculators. Only people who buy without regard to an immediate even and with some understanding of BTA are investors. The real issue is that there aren't more investors like many Hotcopperers, Hunter Hall, East Hill.