RE:RE:RE:question and a predictionThis is definitely a strap your helmet on investment for those who deal with futility by knocking their heads against a wall. There is an element of insanity in this investment but the facts support hanging in there in my opinion.
Fairfax wrote off its inititial share purchases but showed renewed interest when they bought another 4.7% of the B shares less than a year ago to hold more than 27%. Mackenzie Financial still hold 9.4 million shares and Canso Investment Counsel (Postmedia debt holders) have 742,000 shares. They are playing the long game waiting for the Voting Trust to capitulate which they will when the dividend is threatened or the offer becomes too attractive to resist any longer.
Shorting this stock made sense over the course of the long steady decline, however the risk of getting caught when the takeout offer is inevitably made will make this a poor decision. If you shorted it at $10 maybe it still makes a little bit of sense if you think you can squeeze another few cents out of your position. Wouldn't be my choice, but we all know what can happen when you get too greedy....I would be covering my position, taking my profits and going long on the stock to catch the upside.