KG4 --
Outstanding post -- very well said. I, too, am tiring of those who would assign JFK/UFO/X-Files conspiracy theories to the selling of stock by insiders. Folks, it's all worthless paper until you liquidate it. Buy and hold forever means you never gain a penny! If we don't let them sell, why should they want to work there? Or, put another way, to all you Scully/Mulder types: would you at least describe the scenario when sales by an insider would NOT arouse your ire/suspicion? I mean, if not now (healthy stock, healthy future), when?
Insider selling does not mean it's based on insider information -- there's a world of difference between the two.
The insiders have earned their money and as shareholders we have no right to demand both world-beating performance (i.e. the #1 performing Nasdaq stock for the past 5 years) and a perma-lock on their ability to sell. Such ridiculous constraints would, of course, deter top talent from working at CMGI and thus, deflate its stock's performance. Bottom line: proper insider selling (not based on insider information) is HEALTHY for the stock, rewarding managers for their performance and incenting them and others to continue to excel.
Enough with the cloak-and-dagger. If the CNBC Bubbleheads (love Fleckenstein's term) want to be idiots with thinly veiled accustations of impropriety, let 'em... But don't stoop to their level of populist "intelligence."
Scarecrow |
