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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (29536)	5/6/2005 5:53:40 PM
From: orkrious	Read Replies (1) \| Respond to of 116555

from tonight's fleck: fleckensteincapital.com In the rarer-than-a-hybrid-solar-eclipse department, yesterday, Fred Hickey pointed out to me that an insider bought a chip stock in the open market. I told him I couldn't remember that happening in the last five or 10 years in any of the big chip names, and he agreed. Nonetheless, it happens to be true that three days ago, Mort Topfer, former vice-chairman of Dell and current board member of Advanced Micro Devices, bought 25,000 shares of AMD, adding to the 25,000 shares he previously purchased. I checked the insider filings and he also has stock options to the tune of roughly 18,750 shares. That's not much in the options department, but he has only been on the board for a few months. Rare-Bird Bullishness While 50,000 shares of a $14 stock isn't an immense amount of money, it's not chump change, either. More importantly, as I pointed out, it's a very rare occurrence for a chip insider to spend money on company stock. Obviously, as I've been saying all along, Mr. Topfer didn't join the board of AMD to watch it fail, and he's certainly not buying stock because he thinks the company's prospects are poor. I continue to believe that AMD is going to be a real problem for Intel, and I recently added to my AMD position as well. Time will tell whether long AMD/short Intel is a winning strategy, but I am pretty excited about both sides of the transaction.