On September 30th last year, with MAN above 300p,  we saw directors of MAN Group plc (EMG, 219p) buying warrants at around 57p, rather than buying the shares outright.

Probably a good thing really, as MAN Group shares lost 40% of their value in the following six weeks, more than twice the 57p paid for the options.

For our comments on MAN Group in September, read ‘MAN Group Directors step in to buy after results announced’ (WEAK signal).

So what now with the reorganisation and renaming of funds?

With no new directors purchases since September last year, I’m happy to stay on the sidelines here. If management don’t feel the shares offer value, with a yield above 8%, then why should you.

I’d agree with Tempus here, ‘A buy for the brave’, but let the MAN directors show their courage first!