Altaba Inc. (formerly Yahoo) Message Board

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Technology Stocks : Altaba Inc. (formerly Yahoo)

AABA 19.63

0.0%

Nov 6 4:00 PM EST

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To: Oeconomicus who wrote (7172)	2/6/1998 7:38:00 PM
From: Bill Harmond	Read Replies (1) of 27307

>>Who cares why That's exactly my point. If you don't know why they're selling, what's all the concern about? Why point to insider selling as a sign of trouble? If I had that much Yahoo stock I'll sell some too. I only have 12% or so of my money invested in Yahoo. Most of the rest is invested in companies growing more slowly than Yahoo. Some is in cash. Most of these people have options on even more stock. That's their principal form of compensation. Last spring I was calling Yahoo bears "cementheads" for basing their decisions on such selling. Insider selling in stocks like this generally means nothing. Bill Gates sells Microsoft stock every quarter, hundreds of millions worth. Steve Case has sold huge amounts of AOL stock regularly for years, too. Bill and Steve are the ultimate insiders in their respective companies. Should we have avoided or shorted Microsoft and AOL on that basis? That would have been a dumb (and shorting a very damaging) thing to do. Shorting a stock based solely on valuation isn't smart either. Last year at this time Yahoo was more expensive than it is now, selling at a higher multiple of sales and earnings. If it wasn't smart to short Yahoo based on a higher valuation a year ago, why is it a smart thing to do now?

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