Heck, I don't know where that is or even what I said.
I've looked at the recent sales, and they don't bother me in the least. While in and of themselves the sales look big, when viewed in the context of total ownership, or investment, remaining after the sale, they are trivial.
When the merger with closed, every employee of US Robotics had 100% of their outstanding options vest, even if they had not met the requisite vesting period. The non-vested options would typically not be considered as net worth prior to vesting, so there was suddenly a large amount of liquid assets added to the net worth of these people when the merger closed.
Any respectable investment advisor would say that diversification is critical, particularly if a large percentage of your net worth is in a volatile sector with the market at record highs. These folks worked hard to earn their options, and they have now been rewarded, and it is entirely reasonable to expect them to redeploy some of these assets to other purposes, including other investments.
The key point is that the insiders still own millions of shares of 3Com, so their interests remain in the same boat with the rest of us with long positions.
[OT]
Say, how about that NOVELLUS?! Word is that the new copper technology announced by IBM is done on a Novellus tool. That would be just too cool! Needless to say, between COMS, NVLS and SCI, it was a gooood day today. Good thing, since I shorted NSS this morning. :- / |
