Quote:
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Originally Posted by pgardn
Country Wide played a dirty little game:
http://www.nytimes.com/2007/08/26/bu...hp&oref=slogin
Started as Countrywide Credit Industries in New York 38 years ago by Angelo R. Mozilo, a butcher’s son from the Bronx, and David Loeb, a founder of a mortgage banking firm in New York, who died in 2003, the company has become a $500 billion home loan machine with 62,000 employees, 900 offices and assets of $200 billion. Countrywide’s stock price was up 561 percent over the 10 years ended last December.
Mr. Mozilo has ridden this remarkable wave to immense riches, thanks to generous annual stock option grants. Rarely a buyer of Countrywide shares — he has not bought a share since 1987
A huge warning sign. That we dont often get to hear about till after the degredation occurs. CEO's etc... that sell their own stock and never buy any back. |
not true - if you could access the internet and look at a stock you can look at insider transactions
Angelo sold over the last few years and never bought - Toll brothers ceo same thing - what gets me is these guys were constantly interviewed over the last few years but i can't remeber anyone asking them - how come if things are so good why are you guys selling instead of buying - the financial news media should have pressed them on this issue instead of ducking it
It's typically not a good sign to see selling over and over for months and years at a time - these guys got out little by little over the years
If you see a ceo exercise his/her options and then sell the stock again - not a good sign, but if you see them exercise the options and hold onto the stock than that is a good sign