continued #2
4) Many people who are not insiders might hold lettered stock. Insiders can give the stock to a friend or relative, secure debt, pay off debt...all the things the co can do with it, but it still must be held for the 2yr holding period. Often, if it is a 'sidnificant' amount, determined by the SEC, that 2 year holding period can be started all over again!!!!
5) What if you are a creditor...you haven't been paid for whatever period, you receive LETTERED stock...now you have to hold on 2 MORE years before receiving payment for your work. HUH????
What if you are an insider and you have a kid to put thru college, or your family hasn't had a vacation in several years while you have been at the company 12 hours a day....6 days a wk. What if you find you have cancer, or your spouse is terminal??????? Is any of this your business???? Not at all. That's why the SEC does not require an explanation. Why, the gov't and insurers, etc already know far more about each of us than is healthy.
Tell me, just how much stock do YOU own? When did you buy? What did you pay? Will you buy more? When will YOU sell? WhY??? Actually, I don't want to know....nor do I believe I have a right to this info.
6) The SEC requires public notice of all sales and buys of insider stock....but not all is sold or bought by true insiders. This is very misleading to a beginner. All that really matters is the # of shares and how many transactions. One sale of 25K is absolutely nothing to write home to mama about. Mel, surely, you of all people know this??
How many shares of GIFT are FLOAT...or, out in the public domain, and how many are in the treasury. How many total shares owned by insiders? Until you have all these factors and see their proportions to each other, one number...25K....is totally meaningless.
7) Last, it was also posted, and ignored, that insider information is ILLEGAL. Remember??? Let's see. How many people have served looooong prison time and/or big fines for this??? Milken, Boskey.....hundreds you don't hear about.
Yet, here you guys are, yelping to obtain just that. At least THEY know the rules!!! Whatever they do know, that has not already been released to the public, is insider info and illegal to spill.
Enough...I could go on, but my anger has cooled as the time has passed.
Jose, either do your homework....or get a life. |
