Doc Stone's Bierstube und Trading Room Message Board

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Non-Tech : Doc Stone's Bierstube und Trading Room

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To: M. Frank Greiffenstein who wrote (436)	10/29/1998 10:36:00 PM
From: wolfdog2	Read Replies (2) of 638

Insiders... Since the significance of insider buying has come up lately, I thought that people might be interested in looking at Alliance Gaming (Ally). The stock has been in a steady decline for over a year. And insiders have been buying all the way down. The company, which makes games and software for the gaming industry, owns a casino or two and has a route operation. Unfortunately, the company can't quite seem to get its act together. Two years ago they bought Bally Gaming and have been trying to get it into shape ever since. The shares currently trade just under $3, but I suspect that the price won't be there for long. Just after the close this evening the company announced that they were going to miss Q3 estimates (which weren't that great to begin with) and apparently Q4's as well. But not to worry the press release assures us. Hey, just look at all the insider buying! The lesson from all this seems obvious. Insider buying is important, but only as a starting point. Insiders can be overconfident and delude themselves just as easily as the rest of us.

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