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Insider Selling To Buying Update: 2,019 To 1
Just when everyone thought we may see some moderation in the wholesale dumping of equities by those who actually know what their companies are worth better than moronic stock pumpers on stations that are rapidly losing their viewership, here come the same insiders and pull the rug right from underneath the latest batch of hot potato recipients (that would be various collocated computers mostly, and involuntary taxpayers course). Two weeks ago, insiders sold "only" 1,169 times more than they bought. Alas, last week selling apparently is the new black again, with selling outpacing buying on the S&P by a factor of 2,018. Insiders in Oracle, GameStop, Google, CSX and General Mills appear to be particularly partial to the new black. Something tells us CNBC will not pick up this particular piece of news.
Source: Bloomberg
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How unusual is this for this time of year going into EOY? Curious to compare with previous years if anyone knows.
somebody chart that sucka!
Anyone have the link to find this chart on bloomberg?
Insiders also have to pay for their underwater McMansions after all !! How else to pay for those "real" losses versus the "virtual" profits generated by the corporations ??
"Insiders" do not have underwater "McMansions", that is why they are "insiders". No, this selling is nothing more than the same thing our government does----they are "printing" money. Why? Because they can. Why? Well, in the past is was mostly due to moronic investors unable to read balance sheets and income statements----now that investors have largely left the water, it is computers driven by money from the Federal Reserve. Either way, "insiders" will always "print" money by selling shares to the public ---- as long as the public---oops, I mean computers/Federal Reserve let them.
You are confusing "insiders", which means people who have stock options or receive some of their compensation in stock, with "oligarchs", who tend to place themselves where they can benefit the most from Fed actions.
Insiders sit on GS Board, ladder stock options, spin IPOs and run for Governor
http://en.wikipedia.org/wiki/Meg_Whitman
I thought CNBC was the leader on market analysis. Am I missing something?
The death of a network...I suspect that is what you are missing. Clearly, the prognosis for CNBC is fatal.
"The death of a network...I suspect that is what you are missing. Clearly, the prognosis for CNBC is fatal."
for sure ! I've been watching CNBC since the mid-1980's when it was a CONSUMER AFFAIRS CHANNEL with programs about how to find deals on consumer goods & how not to get ripped off by companies !
Saw our own Reggie Middleton on the CNBC faux box this morning with Herb Greenberg. Some nice things said about Reggie, and he did a nice job explaining to the uninitiated.
Here it is.
http://www.cnbc.com/id/15840232?video=1618325359&play=1
With respect for RM,
anyone who invests off TV takes their life into the toilet
LOL
However, taking advice off of the Inter-webs is perfectly reasonable. :>)
I could not agree more! My money is not in any stock, bond, nor any other utterance of the Wall Street gangsters. I'm 100% in PMs and other collectibles that I am expert in.
I find the financial networks to be the canaries in the coal mine.
Thanks, I actually would have liked to see that even though I can't usually stomach that channel. Thanks for taking one for the team!
Insiders bought 229 shares of FedEx... spendthrifts!
When you absolutely, positively need it overnight...go FedEx!
Unless you are a Tom Hanks character and can't quite commit to your long-term girlfriend...
and your best buddy's a coconut.
Soccer ball actually, but at least they are both round. You must have fallen asleep before the floating off on a raft scene.
And yet, I sometimes wonder why we believe that the dollar is worth more than the asset it can buy.
Of course common stock certificates are really only casino chips ... so: do they qualify as assets?
That depends.
Who are you askin? and who wants to know?
Basically the answer is:
Is the FED buying it? If yes, then it's an 'asset'
Hey govt POMOs just aren't for the banksters...but CEOs and upper management as well. Everyone is getting out while the getting is good. Make cash, covert to gold and silver and watch the market collapse leaving the worker bee holding the mess.
Doing the math:
There are far more derivative, debt and dollar calls than gold.
You get in but can't check out
Oracle continues to sell off by insiders.
Might be worth looking at who is selling.
http://tinyurl.com/2ekm82l
;)
Looks like Larry Ellison has a standing sell order of 1M shares per day.
Just wait for when this ratio is 10x this in November after the elections ...
If Congress does not extend the Bush tax cuts and fully extend capital gains tax increases, the insider selloff in November/December is going to be epic ...
Brian Sack will need to work a Beatle's work week ...
i like this one.
You can see a lot by just looking.
Yogi Berra
GOOG is the vehicle by which the usa will mint new billionaires this year. That is all that matters.
buy Motorola on the Apple news.
There's no mortgage securitization problem! Move along, it's all good...
Unbelievable video from CNBC this morning: http://www.cnbc.com/id/15840232?video=1618302372&play=1
If there was ever a face more deserving of a world record slap than this smug guy, I'd like to see it. He's probabbly from central casting, hired for a day to read his part...
Saw that, mouth agape. I think this was the guy writing Bernanke's scripts during the subprime mess. You know, the one that was going to be "contained".
I really don't like these people.
The guy does not understand that there are local laws that must be followed.
The "Uniform Commercial Code" is a Nazi invention.
Wow, that's truly nauseous.
The Freudian slip at about 3:06 is hilarious, though.
(Cheyenne covered it)
The guy is demented. I loved the line "check written to cash" about the question at hand. Thirty pieces of silver is his work.
LOL, Towards the end it was like he could feel the responses through the tv! He kept shutting his eyes and wincing like he expected to be slapped for spewing such nonsense.
We're not living in usual times. Massive insider selling is simply reflecting the perception that there are major imbalances in valuation. Insiders are selling into strength while the gettin' is god.
Why sell now? Why not wait for even more outrageous prices?
Two reasons:
-Insiders don't gamble on waiting for the next shoe to drop when shares could drop 50% before the market opens (many stocks in 1987) or when a flash crash can wipe out half in a , well, flash.
-The calculus says that the extra value in dollars is undercut by the ongoing dollar devaluation such that cashing into gold and PMs ensures that the profits don't get lost when all prices start going through the roof.
How about tax reasons? Aren't capital gains going up next year?
Good point, Hulk, and more than a few folks have tax losses this year. Might as well off set now. God knows what's coming. Still, this is weird.
Just a poor memory and a guesstimate, but I think insider selling in the range of 50-60 to one is actually "Normal". People with stock options or locked in shares diversifying, makes good sense, but I don't remember ever seeing numbers like this, and look at the delta. I see Tyler's point. These folks are not drinking the Kool-aid.
Obama has reassured that cap gains won't get touched
Gitmo. Check.
Iraq/Afghanistan withdrawal. Check. Check.
HCR will lower premiums. Check.
Glowing track record ... I've also heard he won't come in your mouth ... at least that's what Rahm told me.
Just unearned income then ?
Getting out before the possible (probable?) expiration of the Bush tax cuts could be a third reason.
Nope. Cap Gains is not in play, only income tax.
The insider selling numbers were never this high even at the peak of the dot.com mania. Back then people believed we were in a "new paradigm". Not now
What were the ratios prior to bubbles past?
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Is this the best wisdom you've got? Insider selling is massively more than buying, so "sell stocks?" They must have taught you that in training camp at Dean Witter, right?. Insiders are supposed to sell. Its only news when they buy. Ever heard of "getting out even?" I didn't think so.
2,019 To 1? Come off it.
How about that C! minus cannibalizing their loan loss reserves they made a cool $0.18B for the quarter. woohoo!
Welcome to Fantasyland...
(UK) House sellers' move to raise asking prices is 'illogical', says Rightmove - http://www.telegraph.co.uk/finance/economics/houseprices/8070267/House-sellers-move-to-raise-asking-prices-is-illogical-says-Rightmove.html
"A child of five would understand this. Send someone to fetch a child of five." - Groucho Marx
Sellers are appearing to price in the inevitable inflationary storm that will devalue the future payback of the currency being borrowed to purchase the home today as evidenced by the historically low cost of long term mortgage money.
Now can I have my cookies and milk, it's almost naptime.
This is meaningless. Why would insiders buy when they get free shares?
+1
Kind of, but if we had a baseline over decades of say 100:1 selling (guessing), then today's numbers would indicate additional factors are being considered by insiders.
No insiders are buying in a material way. This is a much bigger problem than the ratio of insider sellers to insider buyers.
Not on the list, but according to www.insider-monitor.com Martha Stewart Family Limited Partnership sold $400K+ at 4.85 last week, well off the April 2010 high of 7.45. Apparent converting to cash >now< "is a good thing".
Anyone catch this?
Banks and hedge funds are acting as enforcers on tax collections, tacking on huge fees if you fall even a little behind in water, sewage or property taxes. They're also seizing properties through tax liens.
TBTF banks that got bailed out and rescued by taxpayers are now vulching those taxpayers. Cute.
http://www.huffingtonpost.com/2010/10/18/the-new-tax-man-big-banks_n_766169.html?ref=twitter
Just classic, a first-ballot American Fascism Hall of Fame story.
not seeing too many natural resource companies on the sell list
where is the article about cnbc's new heat map and that neither cramer or pisani knows his left from his right?
Gives new meaning to the term "bailout"...
Hot of the CNN business page.
Oct 18 12:15pm:
Stocks were pumped up in midday trading on Monday, extending last week's strong run on upbeat earnings from Citigroup and improvement in the housing sector.
They came right out and said it "Pumped". On another note, I am having a hard time finding confirmation on the improvement in the housing sector.
oh I'm sorry I found it, the NAHB released it's monthly index of builders sentiment, GO BUY A HOME, Please!!
They released something all right, a big fat fart of foul smelling fabricated facts, scent a mint, what is sentiment ?
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Thanks for taking the time to discuss this, I feel strongly about it and love learning more on this topic.
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