SAMSUNG is the real villain on the short side; the longs are all just cannon fodder! On the valuation front, you can’t even point out a single long “ace” that’s actually capable of fighting. No matter how loud the reputation is, it can’t support even a fraction of any premium—buying tickets on a good story is just handing over money. Big-account numbers are dressed up to look respectable and skew bullish, but the actual real gold position is net short— the sweeter the pitch, the deeper the trap.