Andy, Goodman and Schulich cut their teeth on winning hands! They, if winning means making money, know when to hold 'em and know when to fold 'em! As you know, no limit hold 'em is a trap game, ie, you play winners weak until the others players are trapped in a position to give you all their cash! I don't don't know Goodman's history as a poker player, but Seymour, after cashing out of Franko-Nevada the first go-around with a $BB or so, played the Nevada poker circuit for years! Boone Pickens was a regular as well! (Played with Boone in the late 70's not knowing who he was, but as I was leaving a 4 day session he offer me a ride back to Calgary. Not realizing he had the Co jet parked at McCarran Airport I turned him down an flew Air Can! The pit boss alerted me to his identy as I was leaving, but I was too dumb and exhausted to change my mind!

No doubt Ned knows the game! He also knows intimately that his "hand" in SAN is an AAA winner and if he can "shorten" the table by playing it weak (Shortening the table in market parlance means elliminating SHs, many of whose shares "winner" will accumulate) he will ultimately own many more "chips" and will at some point let the price run just before an "all-in" move with His "sure thing!"

The only thing I know for sure is that His motives are the same as ours!

I'm here 'till I split His winnings with Him!! (as a shareholder of course!)

There in lies is the difference between poker and the market, in cash games there is usually only 1 winner, where-as with SAN, there will be as many as can hang in!

RUF