History of Lev Dawson's trades of VLNC stock.
tscn.com;
From this chart, we see that Lev sold over 2.2 million shares of VLNC stock between 1992 and 1994 at prices ranging from $12.25 to $20. Assuming he sold those shares at the minimum price listed on the chart, he received over $34 million from those sales.
He then acquired over 960,000 shares at $5.06 when he rejoined VLNC last year, but he didn't have to pay for those shares. The company lent him the money to buy them, and the security for the loan is simply shares of stock, but not the $34 million he has already made, or any other personal assets.
He then purchased 95,200 shares last fall at prices ranging from $3.46 to $3.99. Assuming he paid the maximum price listed on the chart for each transaction, he paid a maximum of $342,348 for those shares.
So, last fall, Lev reinvested approximately 1/100th of the $34+ million that he made from sales of VLNC stock in 1992-94. And since I assuming the lowest possible proceeds from the stock sales, and the highest possible purchase price for the purchases, the actual percentage is probably considerably less.
I wonder if some of the more rabid posters on this thread have such a small stake of their personal wealth invested in this stock? |
