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Earlier news re insider selling by senior Barrick executives has me wondering what they know about market liquidity, 2008 prices for precious and base metals and how they know it. The heads of exploration, operations and the general counsel take their holdings down to ZERO? In my day, you only did that if you expected indictments, resignations or a drop in prices sufficient to put the company under. But then again, times have changed.
Hard to square these sales with Barrick’s leaders’ recent bullish comments: Munk Sees Even Higher Gold Prices
From thestar.com (26 Jan 2008)
One Comment
re the Barrick Insider sale:
For all those guys to sell at the same time prior to a serious decline, scandal, etc. would be ipso facto proof of not only insider trading but conspiracy…
I think it more likely that they have found another opportunity to pursue- maybe a spinoff, maybe even in an entirely different industry- and wanted to raise some cash (out of profits, of course) to put into that new venture.
Then there is no problem with timing, other than raising the risk of speculation and the possibility of initiating a self-fulfilling prophecy…
Thanks for you excellent eye!
I really appreciate your good work.
Regards,
Ralph Bauer
re the Barrick Insider sale:
For all those guys to sell at the same time prior to a serious decline, scandal, etc. would be ipso facto proof of not only insider trading but conspiracy…
I think it more likely that they have found another opportunity to pursue- maybe a spinoff, maybe even in an entirely different industry- and wanted to raise some cash (out of profits, of course) to put into that new venture.
Then there is no problem with timing, other than raising the risk of speculation and the possibility of initiating a self-fulfilling prophecy…
Thanks for you excellent eye!
I really appreciate your good work.
Regards,
Ralph Bauer
Earlier news re insider selling by senior Barrick executives has me wondering what they know about market liquidity, 2008 prices for precious and base metals and how they know it. The heads of exploration, operations and the general counsel take their holdings down to ZERO? In my day, you only did that if you expected indictments, resignations or a drop in prices sufficient to put the company under. But then again, times have changed.
re the Barrick Insider sale:
For all those guys to sell at the same time prior to a serious decline, scandal, etc. would be ipso facto proof of not only insider trading but conspiracy…
I think it more likely that they have found another opportunity to pursue- maybe a spinoff, maybe even in an entirely different industry- and wanted to raise some cash (out of profits, of course) to put into that new venture.
Then there is no problem with timing, other than raising the risk of speculation and the possibility of initiating a self-fulfilling prophecy…
Thanks for you excellent eye!
I really appreciate your good work.
Regards,
Ralph Bauer