No I don't believe that. I am not making the relative value. The...

No I don't believe that. I am not making the relative value. The market does that. I trade the volatility in the relative value that the market sets.
I have my ideas as to the spec value of TAS and the fact that it will have no income other than the income from EDE. I have my ideas as to what the company directors will do with that income. Whether I am wrong or right doesn't alter the fact that there is volatility in the relative values that is there for profitable trades. Don't blame me for the fact that the relative values are what they are on a day by day basis. Blame the directors. They run both companies. Ask them the questions. Ask them to lay out long term plans for both TAS. Ask what they intend to do with EDE profits. Ask them why Noble is a necessary holding company for the TAS share of EDE. EDE profits.

Why do I have to have all the answers. Hell I don't know half the questions let alone know the answers.