It's always disturbing to see the CEO selling stock. I'm never happy to see that, especially before the price drops.
Then we best think that Bill Gates and Paul Allen are no longer confident in MSFT, either, as both of them sold before the fall. Maybe Cosmo would be kind enough to speculate on what kind of "smoke and mirrors" they are using in Redmond?
What Cosmo misses (well probably he didn't miss it, but it doesn't play the way he'd like to see it, so he ignores it) is that Welstad has been selling 100k blocks on a somewhat regular basis, irregardless of the current share price, high or low. And what he conveniently misses is that Welstad still owns approx. 14% of all common shares and approx. 66% of all preferred shares. Doesn't sound like somebody that's bailing to me.
Another item that Cosmo misses is that LBOR and Glenn Welstad are two separate entities. What is prudent for LBOR will not always be convenient for Welstad personally, and vice versa. And you know what? That's ok, as I want my CEO to run the co. as well as he can, maximizing profits not just today but for the long-term. What I don't want to see is a CEO making decisions that benefit his personal circumstances to the detriment of the other shareholders. What personal investment decisions he makes are fine by me as long as the overall message he's sending does not conflict w/ the co.'s mission. That being said, I'm more than sufficiently satisfied that Welstad's interests are aligned w/ those of mine and the vast majority of LBOR shareholders.
As has been posted here, the Cosmo's of the world already have their minds made up; they just try to mold, stretch, and bend the facts to fit their views as they go. Most of us (i.e., who I like to call the rational people) try to see the overall picture for what it is, not getting hung up on one item w/o putting it into the context of the whole magilla.
Man, it must have been an ugly day to be a LBOR short. Almost as ugly as the scam some prominent shorts pulled on us back on Black Wednesday. I'm sure it doesn't feel good, having been there, done that.
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