Euro, I usually agree with pretty much all that you...

Euro, I usually agree with pretty much all that you write.
However, i have to pull you up on 2 things

1. Your second point contradicts your first. Either $24m is material to them or it isn't.

2. Regarding this: "This $5 bln hedge fund is the same hedge fund that backed the previous management to the tune of $24 mln so I'm certainly not attributing any special abilities, knowledge or insights to them. "

I disagree, as QVT would most definitly had more knowledge and insight this time around. Previously they must have invested the $24m as a punt on Sigalla's mouth but this time I am sure they would have wanted to see a lot lot more.