The Housing Bubble: Insider Selling Continues At Countrywide

Wednesday, May 11, 2005

The shameless insider selling continues at Countrywide Financial.

At 8:51 AM, Anonymous said...: that mozilo is so greedy!
At 9:00 AM, Anonymous said...: No one does it better than Robert Toll though. In his con call this week, Toll said he felt Toll Brothers' "intrinsic" value was $150/share---nearly double today's $80 price.

Yet Toll has sold millions of shares over the past year at much lower levels, most recently in March---all the while talking about "torching the shorts" and bitching about how undervalued his company is.

I don't blame CEOs for profit-taking when they hold tons of shares. But if a CEO truly felt shares were worth twice as much as the quote, wouldn't they be buying more or at least not selling any?

Bob Toll, and his ilk, are the reason Americans are increasingly cynical about the stock market and about corporate leadership in general. They say one thing, do another, laugh all the way to the bank. Same as it ever was.
At 9:05 AM, Anonymous said...: 9:00 AM

kinda reminds me of the Dot Com Pump and Dump BUST