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Mr. Carolan,
Looks like not only Mr. Buffet is a quick one (with the sleigh of hand).
The following was news
weeks ago. Long term investors but smart in timing too!
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[ Business | US Market | By Industry | IPO | AP | S&P |
>International | PRNews | BizWire ]
>
>
>Wednesday August 12, 8:34 pm Eastern Time
>
>Gates, Allen continue Microsoft sell-off plans
>
>WASHINGTON, Aug 12 (Reuters) - Bill Gates and Paul Allen continued their
>proposed
>sell-off of Microsoft Corp.'s (MSFT - news) common stock, according to
>regulatory filings by
>the two co-founders of the computer company.
>
>Chief Executive Gates plans to sell 1.2 million shares worth about $117
>million through
>Donaldson, Lufkin & Jenrette and Goldman, Sachs & Co., while Allen may
>unload 653,000 shares worth nearly $69 million via
>Dain Rauscher Inc.
>
>The filings, date stamped Aug. 10, were made through the Securities and
>Exchange Commission's Form 144, on which company
>officials announce their intention to sell stock, but they are not then
>obliged to do so.
>
>>From May 14 through Aug. 6, Gates and two other entities -- Gates
>Library Foundation and the William H. Gates Foundation --
>sold over 9 million shares.
>
>And Allen disposed of over 12 million shares between May 8 and Aug. 5.
>
>The last time Microsoft filed a definitive proxy statement with the SEC,
>in September, Gates held about 541 million shares, or 22
>percent of the company, and Allen held about 184 million shares, or 7
>percent.
>
>Microsoft is expected to issue an updated statement next month.
>
>It was not immediately known if the sales had actually taken place.
>
>Recent filings by the two show they proposed selling more than $1
>billion worth of stock. Gates planned to sell 3.5 million shares,
>worth around $386 million, while Allen planned to unload over six
>million shares worth about $649 million.
>
>As of April 30, Microsoft had about 2.5 billion common shares
>outstanding, according to their latest quarterly filing with the SEC.
>
>
> More Quotes and News:
> Microsoft Corp (Nasdaq:MSFT - news)
>
>
>
Chris Carolan wrote:
> -----Original Message-----
> From: Dark Hacker <hacker@xxxxxxxxxxxxxxx>
>
> >You wrote:
> >Speaking of Mister "Hold on to everything forever", Warren Buffet
> >is getting beaten up right now on these market nose dives. Owns a
> >lot of Coca Cola I hear. Remember some time ago he proclaimed the
> >market as overvalued? He probably figured this would happen and yet
> >he *still* hung on. Amazing!
> >
> >- Hackster
>
> Actually, he didn't hang on. Back in June, James Grant titled an issue of
> Grant's Interest Rate Observer, "He Sold Without Selling". It described how
> Buffett's recent acquisition of a large insurance firm effectively reduced
> his equity market holdings by 20%.
>
> Chris Carolan
> http://www.calendarreserach.com
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