seafood
Billionaire Chilean seafood proprietors are great timers of US securities markets and may
have missed their calling or at least comparative advantage. The investment was in a
company that makes microinverters for the solar business and sells the product through
distributors.
The Chileans were in early under $20 a share and on 20 May sold $800 million worth,
all of their holdings, at $58. They were preceded and followed by Mr Rodgers of
Cypress Semiconductor who sold $100 million in February followed by another $100
million in June all out. The buyers were the usual suspects of conduits of other people's
money.
The insider sales may have been innocent adjustments to portfolios with more zeroes
than any million lifetimes or it may have had some relation to a report after a multiyear
investigation by a short-selling firm that claimed fancy accounting footwork,
the exponential expansion of revenue despite sinking market share, increased margins
despite higher industry taxes, and skipping distributors to deal directly with customers
so invoices could be forged.
The discerning audience will decide in the fullness of time
Billionaire Chilean seafood proprietors are great timers of US securities markets and may
have missed their calling or at least comparative advantage. The investment was in a
company that makes microinverters for the solar business and sells the product through
distributors.
The Chileans were in early under $20 a share and on 20 May sold $800 million worth,
all of their holdings, at $58. They were preceded and followed by Mr Rodgers of
Cypress Semiconductor who sold $100 million in February followed by another $100
million in June all out. The buyers were the usual suspects of conduits of other people's
money.
The insider sales may have been innocent adjustments to portfolios with more zeroes
than any million lifetimes or it may have had some relation to a report after a multiyear
investigation by a short-selling firm that claimed fancy accounting footwork,
the exponential expansion of revenue despite sinking market share, increased margins
despite higher industry taxes, and skipping distributors to deal directly with customers
so invoices could be forged.
The discerning audience will decide in the fullness of time
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