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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era -- Ignore unavailable to you. Want to Upgrade?

To: Freedom Fighter who wrote (1284)	2/18/1999 7:07:00 PM
From: Daniel Chisholm	Read Replies (2) \| Respond to of 1722

Hi Wayne (re: Sbarro), Why would anyone just dump a million shares of SBA at $23.50 on 17-Feb-99, substantially lower than the trading price prior or since? Is this the case of a big seller who doesn't much care what price he gets since he's dealing with other peoples' money (mutual fund)? Since the Sbarro family has offered $28.85, are they somehow prohibited from buying stock in the meantime? Seems to me like both they and the seller of that million shares could have both been better off. Or is there a rule that says if you make an offer to buy stock, you're not allowed to buy stock in the meantime? I guess this sounds stupid enough to be true.... I guess what I'm trying to figure is whether that million share sale was made by someone smart and panicked or someone stupid and impatient. Oh well, I'll bet this is the sort of thing that we'll never know... - Daniel