Finally post #200. It took a lot longer than I thought it would, given the pace at which I was going when I started. But when there's really nothing more to say on a subject, there's not a whole lot you can do about it.
Anyway, the news this time is that one of REFR's two largest institutional holders, Vanguard Group, has liquidated nearly all of its REFR holdings. This has significance because Vanguard, along with Barclay's Global Investments, are the two biggest managers of index funds, funds that are supposed to hold positions in everything, irrespective of investment worthiness.
It was embarassing enough that these two far-and-away topped the list of institutional holders, meaning that few if any funds were interesting in a position in REFR on its merits. But with Vanguard giving way (single-handedly reducing institutional investment in REFR by nearly 30%), Barclay's is set to become the lone institution with a position in REFR greater than 40,000 shares (unless some other institution picked up an outsized portion of Vanguard's position).
And so the end comes one step closer. I'm seriously doubting this blog will ever see post 300.
Update: It was pointed out on the message boards that the "mffais" site has Vanguard Group drastically reducing positions in just about every stock it holds. With a lack of news to confirm such action it seems this may not be what it seems after all. Sorry!
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment