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I want to wish you ‘good investing’ in a period of huge uncertainty. I suppose (is ‘hope’ a more appropriate word) the brave will be there to buy when everybody is panicking, which is why I’ve allowed myself to have a list of buys.
When I look at directors dealings I’m looking for a change of pattern or direction, an intensity of director interest indicated by volume and speed, and a sentiment change within a sector.
Stocks that satisfy one or more of these criteria are
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Wolfson (WLF)
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Aegis (AGS)
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Findel (FDL)
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Enodis (ENO)
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Segro (SGRO)
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Hammerson (HMSO)
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Great Portland (GPOR)
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Yell (YELL)
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Michael Page (MPI)
Look in the archives or via the tag list for my reasoning on these stocks.
Real estate stocks are overweighted here, which I suppose shows a tendency to ‘value’, by me and company directors. If I look at the real estate sector overall though, I find that over the last month director buys outnumber sells by about 4:1 (source www.digitallook.com). Interestingly the bank directors seem to have gone a little quiet recently, after a flurry in early November (see RBS) !!
You’ll also notice a preponderence to midcap or ftse250 stocks in this list. This is not intended, but a result of the criteria. I don’t look at stocks smaller than the ftse 250.
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.