You are currently browsing the monthly archive for December 2007.
Take a look at this wise wise man. John Carey, Chairman of Wolfson Microelectronics (WLF 208.5p).
In 1969 he founded Advanced Micro Devices.
In 2000 he became Chairman of Wolfson.
Last year, March to May 2006, he sold 400,000 shares in Wolfson at an average price of 488.25p. He even managed to sell half of these shares at a penny above the all time high close, at 557p!!
Between November 16th and December 18th 2007 he has bought them all back, at an average price of 205p. That is 58% below where he sold them.
Yes, he does own almost 4.4m shares. But this was such a good trade, and this guy is so knowledgable, I thought it worth mentioning.
We’ve looked at, reported on, and acted on recent property sector ‘insiders’ activity (click on ‘real estate’ tag to the left).
Now Anthony Bolton, guru portfolio manager, tells us he is doing the same thing, namely buying property stocks. Follow this link to The Times article.
Bolton has an awesome reputation, so please listen to him.
Fabiola Arredondo clearly believes in this story. Enough to commit to Experian (EXPN, 414p) a further £232k last Friday at 416p, on top of £176k invested at similar levels back on the 16th and 20th of November.
I said in my post on Experian of 29/11 that I would like to see Fitzpatrick, another non exec, committing more capital. Maybe last Wednesdays investment of £86k by non exec Alan Jebson makes up for that.
To summarise then, we’ve seen four non execs commit a total of just shy of £1.1m to Experian shares in the last three weeks, at between 410p and 431p.
My sunburnt nose tells me there’s a very nice story developing here, and I’m off to buy some EXPN for myself.
Where in the Retail sector do you see the CEO doubling his position and raising the interim dividend by 12% at what we must all see as times of great uncertainty for consumer spending in the UK.
Patrick Jolly was a non exec of Findel (FDL, 598p), previously known as Fine Art Developments, for five years. Jolly, now CEO as of May 2006, is clearly very confident having just last week announced outstanding interim results, and sees the level of Findels share price as an opportunity.
Jolly paid 585p for 25,000 shares on Monday.
The outgoing CEO Tony Johnson, has been selling down his holdings (presumably accumulated over his 16 year career at the firm), raising almost £1.9m when the share price was at 745p in May this year.
I think Findel goes on the buy list as a result of Jollys confidence. I wouldn’t be surprised to see other purchases from Jolly and his merry crew on any further weakness in the stock price.
See www.findel.co.uk for the Interim results.