Silver, you may be absolutely right, but, on the other hand you may not! Pretty much an even money bet!
SANs major SHer has "fleeced many a lamb" (Murray was one as outlined in his biography!) in the past on his way to glory, so my question would simply be, why not a few more of the "humble beasts?"
A "Master Shorter" wielding great sums of cash (of which his intent is to leave little for the grovelling SHers) is much more than just a difficult adversary. He is, for all intent and purpose, an insider, no less so than our BOD, having at his finger tips all the info to make decisions the average peasant SHer is incapable of.
Of course dilution is only one of many tactics. Believe me the rest are in play!
To progress along this "tight-rope" one has to "believe it before we see it!"
To some this attititude has already delivered rich dividends!
Infinite patience will yield immediate results!
RUF