Wachovia’s insiders are buying
Wachovia Director, Lanty Smith, has added another 37,000 shares on Wednesday (11/15) after an initial purchase of 100,000 shares. Since the end of August, Smith has purchased almost $8 million dollars of WB at prices between $38 and $48 a share. Smith now owns 220,000 shares of the bank.
Peter Lynch famously once said, “There are a multitude of reasons insiders sell shares that have nothing to do with the health or the future of the company. I can only think of one reason they would use their own money to buy shares, they think the share price is going up.”
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Posted by Jack Haddad on November 21, 2007 at 5:01 am --
I love the quote by Peter Lynch, such a solid statement!
Wachovia Director John D. Baker II Buys 15,000 Shares of Company Stock for $37.21/share last Tuesday, according to Form 4 SEC filing.
He also said stock picking is both an art and science.
CEO Ken Thompson bought 100,000 shares in Nov 07. I bet Krispy Cream officers were buying shares before it fell to