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Non-Tech : Knight/Trimark Group, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: zurdo who wrote (5237)	10/19/1999 12:38:00 PM
From: Sir Francis Drake	Read Replies (1) \| Respond to of 10027

Well, zurdo, I for one lost confidence in NITE management long ago. As the saying goes, fool me once, shame on you, fool me twice... The problem is that if you cannot rely on managements estimates and forward-looking statements, you cannot, IMO, invest, at best you can trade. On top of that, if management is uncommunicative, employs selective disclosure etc., you, as an individual investor, feel that your interests are not foremost in their minds. This I am convinced of. The insider sales, one can look at in different ways. Yes, there are all sorts of restrictions, and only certain windows when they can cash out, they need to diversify, they just came out of lock-up status etc. I know all this. But really smart management knows that there is also perception - when the stock is under violent selling pressure, to then sell (at prices much higher than where the stock ends up, LOL! Good for them!) leaves a bad taste in the mouth. I hate to beat this to death, but look at how Bezos handles his sells - barely any, and if anything, he has the right to cash in a bit, given how good a stock performance he's delivered to his shareholders. Meanwhile, look at NITE's chart. The vast majority of volume buyers - retail people, happened when NITE broke $30. Unless they traded - they are all sitting on huge, huge losses. I don't think any of them think they got value delivered - a lube job for the incoming nite-train with KP at the wheel, is more like it... so insider sales certainly are funny in that context, no matter all the qualifiers. Morgan Morgan