Last Week’s Notable Insider Purchases

Insidertransactions are usually worth looking at. Though insider purchases or sells do not always send clear “buy” or “sell” signals, it is always a good starting point to choose which stocks to be analyzed. In this article, we are going to take a closer look at a few insider purchases reported to SEC during the last week. We selected a few notable insider purchases with large dollar amounts purchased and large number of shares purchased. We also focused on stocks with relatively large market caps (above $1.5 billion) because these have enough liquidity to absorb sudden surges in demand.

Valeant Pharmaceuticals International Inc (VRX): Insiders are showing a lot of interest in VRX recently. In an earlier article we published this week we mentioned that Valeant’s EVP and CFO Bradley Howard Schiller bought 9300 shares of VRX at $53.4717 per share on March 1 and another 9300 shares at $58.8107 a day later. Schiller purchased additional shares again on March 6, when he bought 9200 shares of VRX at $53.5276 per share. We were already bullish about VRX before the insider purchases were disclosed. Schiller’s purchases increased our conviction in the stock.

Spectrum Brands Holdings Inc (SPB): This was the largest insider purchase in large-cap stocks reported to SEC at the end of last week. As a large shareholder of SPB, Phil Falcone’s Harbinger Capital Partners reported to purchase 249,900 shares of SPB at $29 per share on March 7. The stock is now trading at $29.37 per share, up 1.28% from the price it was purchased at. SPB was also the largest position in Harbinger’s 13F portfolio at the end of last year. The fund had $764 million invested in SPB as of December 31, 2011. The number should be over $800 million as Harbinger has been continuously purchasing this stock over the past few months.

SPB’s management team has been adjusting the portfolio by modestly shifting from durables to consumables. For example, the company has acquired Black Flag and Furminator last year, which will improve the SPB’s margins. For the three months ending January 1, 2012, the company reported financial results in line with the analysts’ expectations. Its net income was $13.1 million in that period, versus a net loss of $19.8 million for the same period a year ago. SPB is expected to make $2.46 per share in 2012 and $2.88 per share in 2013. Over longer term, the company’s earnings are expected to grow at an average of about 10%. The forward P/E ratio of SPB is 11.9, a discount to the 16.41 for the average of its peers. We also see strong free cash flow generation ability of SPB. Its management team has an aggressive deleveraging plan. They reiterated their target gross debt to EBITDA to be less than 3.4X at the end of FY2012. Overall we like SPB. We think the company will outperform the market as well as its peers over the next couple of years.

Stone Energy Corp (SGY): Another stock bought by insiders recently is SGY. Director Phyllis Taylor purchased 16700 shares of SGY at $29.9259 per share on March 7. SGY was closed at $31.72 per share on March 9. It returned about 5.7% in two days, beating the market by over 4 percentage points. There were also a few hedge funds bullish about this stock. As of December 31, 2011, fourteen hedge funds reported to own SGY in their 13F portfolios. For example, Israel Englander’s Millennium Management had $20 million invested in SGY. Jim Simons’ RenTech and Glenn Russell Dubin’s Highbridge Capital Management also invested more than $10 million in this stock.

SGY posted strong results for the fourth quarter of 2011. Its revenues were up 29.2% compared with the same quarter last year, beating the industry average of 22.7%. The stronger-than-average revenue growth also helped boost the company’s earnings. SGY’s fourth-quarter net income increased by 91.6% to $45.52 million, largely exceeding the average of oil, gas & consumable fuels industry. SGY’s EPS was $3.97 for FY2011, versus only $1.98 for the prior year. Over the past few years, SGY demonstrated positive EPS growth and we expect that trend to continue. In 2012, the company is expected to make $4.14 per share. Therefore, SGY’s forward P/E ratio is 7.66, a significant discount to the industry average of 15.39.

A few other stocks with insider purchases reported on March 8 or 9 include Nationstar Mortgage Holdings Inc (NSM), Natural Resource Partners LP (NRP), Arch Coal Inc (ACI), and Cedar Fair LP (FUN). Out of these four stocks Arch Coal is the most popular one among hedge funds. There were 23 hedge funds with bullish Arch Coal bets. Malcolm Fairbairn’s Ascend Capital and Ray Dalio’s Bridgewater had the two biggest positions in the stock.

Arch Coal lost two thirds of its value over the last 52 weeks. This is not the first time Arch Coal’s insiders tried to catch this falling knife. Several Arch Coal insiders bought thousands of shares in August at around $19 per share. The stock lost almost 40% since then. We don’t recommend imitating insiders in this stock. The company’s fate is dependent on natural gas prices and Arch Coal’s insiders have no “inside information” about that. Insiders are optimistic about the stock for two reasons. First, they think the stock price already reflects the lowered expectations. Second, they will be cutting their production and this should put a floor on coal prices and support their profitability. We wouldn’t hurry to imitate insiders in this stock.

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8 Healthcare Stocks Insiders Are Bullish About

Insider trading based on material non-public information is illegal. But recent prosecutions indicate that insider trading is rampant on Wall Street. Luckily, ordinary investors can benefit from these activities simply by imitating the purchases of corporate insiders. Academic studies have shown that imitating insider purchases is profitable, especially when there are several insiders buying around the same time.

Below we compiled a list of healthcare stocks that insiders are bullish about. All companies have at least $2 billion market cap and were purchased by at least one insider in the past month. The market data is sourced from Finviz.

Ticker	Company	Insiders
CELG	Celgene Corporation	1
SYK	Stryker Corp.	1
PRGO	Perrigo Co.	1
EW	Edwards Lifesciences Corp.	1
BSX	Boston Scientific Corporation	3
UTHR	United Therapeutics Corporation	1
TECH	Techne Corp.	1
SIRO	Sirona Dental Systems Inc.	4

Celgene Corporation (CELG): Celgene is a global biopharmaceutical company. CELG was bought by one insider during the past month. On December 5, Ernest Mario bought 1000 shares at $61.4 and another 1000 shares at $61.3. Mario also bought 2000 shares at $63 on November 2. It seems Mario knows when to purchase the stock as CELG is now trading at $66.85 per share. Bill Miller’s Legg Mason Capital Management had $154 million invested in CELG.

Stryker Corp. (SYK): Stryker is a medical technology company. SYK was bought by one insider during the past month. Roch Doliveux bought 1000 shares at $47.01 on November 21. SYK’s price increased more than $2 per share in one month. The stock is trading at $49.62 per share today. Earlier in August, another director Allan Gloston also bought 500 shares at $46.9852. Steven Cohen’s SAC Capital Advisors had $33 million invested in SYK at the end of September.

Perrigo Co. (PRGO): Perrigo develops, manufactures and distributes over-the-counter and generic prescription pharmaceutical products. PRGO was bought by one insider during the past month. Thomas Farrington purchased more than 2000 shares at $98.38 per share on December 12. Now the stock is trading at $100.96 per share. In August, Farrington sold over 8000 shares of PRGO in total at prices ranging from $88.861 to $96.271. Chuck Royce is also bullish about PRGO. His Royce & Associates reported to own $86 million of PRGO as of September 30.

Edwards Lifesciences Corp. (EW): Edwards Lifesciences provides products and technologies that treat advanced cardiovascular disease. EW was bought by one insider during the past month. On November 29, Barbara McNeil purchased 158 shares at $63.78. Now the stock is trading at $70.22 per share, returning over 10% since November 29. Louis Navellier also invested $31 million in EW. Columbus Circle Investors had $37 million in EW at the end of September.

Boston Scientific Corporation (BSX): Boston Scientific Corporation develops, manufactures and markets medical devices globally. BSX was bought by three insiders during the past month. On November 29, Nj Nicholas purchased 10000 shares at $5.56. BSX is currently trading at $5.26 per share, slightly lower than the price Nicholas bought at. Nicholas also purchased 30000 shares of the stock in total at around $6.67 per share in May. BSX was trading above $7.25 per share in July. On November 28, Ernest Mario and Katharine Bartlett bought 100,000 shares and 8000 shares respectively at around $5.4 per share. Mario also bought 25000 shares at $5.3 on November 21 and 50000 shares in total at around $5.5 per share in October. Similar to Nicholas, Mario bought the stock in May as well. He purchased 2500 shares at $6.72 in mid May. Insider purchases in BSX sends “strong buy” signals and outsiders can imitate insiders without paying a premium in this case. Omega Advisors had nearly $100 million in BSX at the end of the third quarter.

Other healthcare stocks insiders are buying during the past month include United Therapeutics Corporation (UTHR), Techne Corp (TECH), and Sirona Dental Systems Inc (SIRO). The strongest buy signal comes from SIRO as four insiders purchased shares during the past 30 days. Investors should also keep in mind that insider trading in smaller companies are generally more profitable. Nevertheless, they have to research these names carefully as sometimes insiders try to trick the investors by making coordinated small purchases.

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Martin Whitman Insider Trading

MartinWhitman is the founder, Co-Chief Investment Officer, and Portfolio Manager of the Third Avenue Management, which has nearly $5 billion assets under management. Asset Management firms devote significant resources to researching stocks. They sometimes even cross the line to try to obtain material non-public information before investing. Additionally, corporate insiders have material non-public information and they sometimes trade based on such information. Other times they have an edge because they know their companies and industries better than almost all other investors. We believe that by imitating the stock picks of these smartest investors in the world, investors are more likely to beat the market in the long term.

Below we compiled a list of stocks both Whitman and insiders are bullish about. All stocks are in Whitman’s portfolio and were purchased by at least one insider during the past three months.

The Bank of New York Mellon Corporation (BK): BNY Mellon is a global financial services company. Whitman had $251 million invested in the stock and it was purchased by two insiders over the past three months. It has a market cap of $23.3B, a P/E ratio of 8.75, and lost 36.64% since the beginning of this year. Jean-Marie Eveillard also had over $400 million invested in BK.

KeyCorp (KEY): KeyCorp is the parent holding company for KeyBank National Association, through which its banking services are provided. Whitman had $115 million invested in the stock and it was purchased by one insider over the past three months. It has a market cap of $6.3B, a P/E ratio of 6.8, and lost 24.74% since the beginning of this year. Ken Griffin had $174 million invested in KEY shares.

Applied Materials Inc. (AMAT): Applied provides manufacturing equipment, services and software to the global semiconductor, flat panel display, solar photovoltaic and related industries. Whitman had $48.3 million invested in the stock and it was purchased by one insider over the past three months. It has a market cap of $14.5B, a P/E ratio of 7.57, and lost 20.49% since the beginning of this year. Ken Fisher had $525 million invested in AMAT shares.

Broadridge Financial Solutions Inc. (BR): Broadridge is a global provider of technology solutions to the financial services industry. Whitman had $39.7 million invested in the stock and it was purchased by one insider over the past three months. It has a market cap of $2.6B, a P/E ratio of 15.64, and lost 1.58% since the beginning of this year. Leon Cooperman invested nearly $100 million in BR stocks.

Lexmark International Inc. (LXK): Lexmark is engaged in developing, manufacturing and supplying printing and, imaging, document workflow, and content management solutions for the office. Whitman had $38.2 million invested in the stock and it was purchased by one insider over the past three months. It has a market cap of $2.4B, a P/E ratio of 7.02, and lost 13.07% since the beginning of this year. David Dreman, Cliff Asness, and Ray Dalio all invested more than $20 million in LXK.

Seacor Holdings Inc. (CKH): Seacor owns, operates, invests in and marketing equipment, in the offshore oil and gas, industrial aviation and marine transportation industries. Whitman had $36.4 million invested in the stock and it was purchased by two insiders over the past three months. It has a market cap of $1.9B, a P/E ratio of 9.31, and lost 13.87% since the beginning of this year. Cliff Asness, Michael Lowenstein, and Chuck Royce all had over $40 million invested in CKH.

Montpelier Re Holdings Ltd. (MRH): Montpelier provides insurance and reinsurance solutions to the global market. Whitman had $35.1 million invested in the stock and it was purchased by one insider over the past three months. It has a market cap of $1.1B, a P/E ratio of 31.33, and lost 8.88% since the beginning of this year. Chuck Royce had $50 million invested in MRH.

Westlake Chemical Corp. (WLK): Westlake Chemical Corporation is a vertically integrated manufacturer and marketer of basic chemicals, vinyls, polymers and fabricated polyvinyl chloride building products. Whitman had $28.9 million invested in the stock and it was purchased by one insider over the past three months. It has a market cap of $2.5B, a P/E ratio of 8.19, and lost 11.69% since the beginning of this year. Chuck Royce had $279 million invested in WLK.

HCC Insurance Holdings Inc. (HCC): HCC Insurance Holdings, Inc. is a specialty insurer with offices in the United States, the United Kingdom, Spain and Ireland. Whitman had $28.8 million invested in the stock and it was purchased by three insiders over the past three months. It has a market cap of $3.0B, a P/E ratio of 10.26, and lost 3.89% since the beginning of this year. John W. Rogers invested over $70 million in HCC shares.

MEMC Electronic Materials Inc. (WFR): MEMC Electronic Materials, Inc. is engaged in the development, manufacture, and sale of silicon wafers. Whitman had $26.6 million invested in the stock and it was purchased by 11 insiders over the past three months. It has a market cap of $1.3B, a P/E ratio of 17.56, and lost 50.09% since the beginning of this year. Chuck Royce also had $19 million of WFR stocks.

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Winifred Jiau, Insider Trading Yüzünden Hapse Girdi

“Winifred Jiau kendisine açılan insider trading davasından mahkum edildi. 43 yaşındaki Jiau, hedge fonlara içeride öğrendiği bilgileri parayla sattığı ile suçlanmıştı. “Bu bir küstahça insider trading entrikasıdır, ve olayın merkezindeki isim ise Winifred Jiau’ dur” dedi Avi Weitzman.”

Bir kısmını çevirdiğimiz yazının devamını merak ediyorsanız Winifred Jiau Convicted in Insider Trading Case başlıklı yazımızı okuyabilirsiniz.

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Quantum Hisselerinde Insider Satışları

Benzinga’ daki bir okuyucu yorumundan şu ifadeler geçiyor: İnsiderlar, şirketleri hakkında diğer yatırımcıların bilmediği şeyleri bilirler. Şirketleri hakkında saydam görüşlere sahiptirler. Günlük işlemleri bilirler bu ise o şirkete yatırım yapacak kişilere biraz da olsa bir avantaj sağlar. O zaman yönetimdeki kişiler kendi şirketlerinin hisselerini satarken bu aslında şirkete olan güvenlerinin azaldığını mı gösterir?

İşte tüm bu soruları teknik analizinden temel analizini de işin içine katarak Quantum’ u inceleyerek cevaplayacağız, merak edenler Insider Sales at Quantum, $QTM başlıklı yazıyı okuyabilir.

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Zvi Goffer, Emanuel Goffer ve Michael Kimelman Insider Trading Davasında Suçlu Bulundu

Zvi Goffer, Emanuel Goffer ve Michael Kimelman insider trading davasında suçlu bulundu. Zvi Goffer kendi hedge fonunu kurmadan önce Raj Rajaratnam' ın Galleon hedge fonunda çalışıyordu. Sonra Incremental Capital fonunu kurdu.

Her ne kadar bu davada suçlu bulunsalar bile illegal insider tradingin önüne geçilemeyeceğini düşünüyoruz. Bu doğrultuda artık daha güvenli yöntemler kullanan hedge fonları insider monkey olarak inceliyoruz ve buradan diğer yatırımcılara yatırım fikirleri çıkartıyoru. Bu kişilerin nasıl suçlu bulunduğunu merak ediyorsanız Zvi Goffer, Emanuel Goffer, and Michael Kimelman Found Guilty in Insider Trading Case başlıklı yazımızı okuyabilirsiniz.

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İnsider Trading İşlemlerinden Sadece %11' i Kovuşturmaya Tabi Tutuluyor

"Iowa Senatörü Chuck Grassley, Steve Cohen’ in fonu SAC Capital ile ilgili şüpheli işlem hakkında Sec’e mektup yazdı. Dealbook sitesi ise Sec’ in senatöre gönderdiği mektubu yayınladı, bu mektupta SEC’ in genel olarak şüpheli işlemler hakkında nasıl bir tutumda bulunduğunu açıklanıyor. Mektupta SEC potansiyel insider trading ihlaline bağlı olarak 2010 yılından beri kabul edilmiş 721 tane SRO yönlendirmesi olduğunu öğreniyoruz. Yani SEC’ e ayda 40 tane potansiyel insider trading davası geliyor. Peki bunlardan kaç tanesi insider trading suçlamalarına neden oluyor?

2010 yılında Sec 53 tane insider trading davasına bakmış. Yani ay başına 4,5 dava. Bu ise 9 şüpheli işlemden sadece bir tanesinin adalet önüne çıktığını gösteriyor..."

Bir kısmını çevirdiğimiz yazının kalan kısmını merak ediyorsanız Only 11% of Suspicious Insider Transactions Are Prosecuted başlıklı yazımızı okuyabilirsiniz.

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İnsiderların Önemli Ölçüde Aldığı 8 Hisse Senedi

İnsider monkey olarak siz ile ücretsiz insider trading ile hedge fon verilerini paylaşıyoruz. İnsiderlar dışarıdakilere göre şirket hakkında daha fazla bilgi sahibi olur. İşte tam bu yüzden insiderlar kamuya açık olmayan bilgileri kullanarak işlem yapamazlar. Çoğu insider yasalara uyar ama bazıları sınırları zorlayarak bu bilgileri kullanarak işlem yaparlar. Geri kalan insiderlar için şunu söyleyebiliriz: bunlar çok iyi analisttir, ve nerede ne zamanda o hisseyle ilgili işlem yapacaklarını çok iyi bilirler ve bütün bunları tamamiyle legal olarak gerçekleştirirler.

İnsider alımları takip edilerek piyasadan daha iyi bir getiriye sahip olabiliriz. Ama insider trading, birden fazla insider alımları olmadığı takdirde çok da karlı bir yatırım stratejisi de değildir. Son zamanlarda insiderların aldığı hisseleri merak ediyorsanız 8 Stocks With Significant Insider Buying başlıklı yazımızı okuyabilirsiniz.

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Nelson Obus' un Insider Trading Davası ve Wynnefield Partners

İllegal insider trading kanıtlanması en zor davalardan biridir. Nelson Obus hakkında da illegal insider trading yaptığı için dava açılmıştı, Nelson Obus bu davada SEC’ in suçlamalarına karşı kendini savunmak için yaklaşık olarak 6 milyon dolar civarında para harcadı, hala adını temize çıkarmaya çalışıyor. Bütün bunlara rağmen kendisi sadece suçlamaları kabul etmeyip, reddedebilirdi ki bu da bize kendisinin suçsuz olduğunu gösteriyor.

Nelson Obus ve Joshua Landes tarafından 1992 yılında kurulan Wynnfield Partners’ in son günlerde neden 134000 adet MAM Software Group hissesini aldığını, Nelson Obus hakkında açılan insider trading davasını ve Nelson Obus’ un yatırım stratejisini kendi ağzından öğrenmek istiyorsanız Nelson Obus and Wynnefield Capital’s Latest Insider Filing başlıklı yazımızı okuyabilirsiniz.

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SAC Capital Fonunun Sonu mu Geliyor?

Avukat Preet Bharara yaşanan son insider trading davalarını Steve Cohen ile bağlandırmaya çalışıyor. Bu tür davalarda Sec genellikle hapis cezasını çok nadir veriyor. Biraz yakın geçmişe baktığımız zaman Arthur Semberg' in insider trading yüzünden hapsi boylamadığını görürüz. Bu ise bize Steve Cohen' in de hapse girmeyeceğini gösterebilir.

Steve Cohen için en kötü senaryo suçlamalara karşı savunma yapmak için milyon dolarlar harcamak olabilir ama fonu için en kötü senaryo bundan daha beterdir, fonun kapatılması. Henüz gelişen bu olayları ve Steve Cohen' in neden suçlandığını merak ediyorsanız Is This the Beginning of the End for Steve Cohen’s SAC Capital? başlıklı yazımızı okuyabilirsiniz.

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Raj Rajaratnam Davası ve Insider Trading

Suçlu bulunan milyarder yatırımcı Raj Rajaratnam' ın davası hala devam ediyor çünkü artık yargıtaya taşındı. Hükümet bu davayı devam ettirmek için 30 milyon dolar, Rajaratnam ise savunmasını yapması için 40 milyon doları gözden çıkardı. Bu tür davalarda olduğu gibi hükümet içlerinde avukat, hedge fon yöneticisi ve uzmanlardan oluşan bir ekip ile rajaratnam' ı bu gidişle devam ederse 190 yıl hapse mahkum etmeye çalışıyor. Emsal davalarda ise bu süre ortalama 7-8 yıldır.

Bu davadan çıkardığımız birinci sonuç; hiçbir zaman herhangi bir yatırım fikrini telefon ya da e-mail ile başkalarıyla paylaşmamamız gerektiğidir. Çünkü Rajaratnam davasında buradan alınan deliller hükümetin elindeki en büyük kozdur. Bu davayı, rajaratnam' ın neden yargılandığını merak ediyorsanız Insider Trading in the Post-Rajaratnam World başlıklı yazımızı okuyabilirsiniz.

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İnsider Trading Raporu: John Angelo ve Michael Gordon' un Büyük Bahsi

Perşembe günü Angelo Gordon Fairpoint Communication' un 500 bin hissesini satın aldı. Ortalaması 10.59 $ olmasına rağmen yine de 10.94 $ dan işlemini gerçekleştirmişti. Geçen pazartesi günü hisse senedi 16 $ dan işlem görse bile salı günü kazanç açıklamasından sonra 9.59 $ dan işlem gördü. Piyasaların bu hızlı cevabı ile birlikte diğer insiderlar da devreye girerek hisse alımına geçtiğini söylemek zorundayız.

Bugün bazı insiderlar 14000 tane daha hisse alımına geçmesiyle birlikte bu şirketi inceleme altına aldık. Konuyla ilgili daha detaylı bilgi almak istiyorsanız Insider Trading Report: John Angelo and Michael Gordon’s Big Bet başlıklı yazımızı okuyabilirsiniz. Read More!

İnsider Trading Davasında Rajaratnam Suçlu Bulundu

"Mosaic Theory" Rajaratnam' ın insider trading davasında ortaya attığı bir savunmaydı, savunmanın esas argümanı ise Rajaratnam kamuya açık olmayan bilgiyi kamudan ya da özel kişilerden kullanıp işlem yaptığı yönündeydi.

Bu insider trading davasının detaylarını, jürinin verdiği kararı ve nedenlerini merak ediyorsanız Mosaic Theory Debunked, Rajaratnam Found Guilty başlıklı yazımızı okuyabilirsiniz.

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Insider Trading Yapilan 5 Hisse

Su siralar borsalarin bir miktar gerilemesiyle insider trading yapilan sirketlerin sayilarinda da bir artis gorulmeye baslandi. Bu konu ile ilgili son hazirladigimiz haberlerden bir tanesi 5 Stocks with Substantial Insider Buying basligini tasiyor. Yazidan bir bolumu asagiya aktariyorum:

Insider trading is most profitable when several insiders buy around the same time. Academic studies have shown that insider purchases beat index funds by more than 7 % per year when there are several insiders purchasing. Insider Monkey, your source for free insider trading data, compiled the list of stocks where at least two insiders made recent purchases. Here are the stocks with substantial insider purchases:

General Motors (GM): As GM’s stock price fell below its IPO price, several insiders stepped in and purchased modest amounts of shares. Daniel F. Akerson, CEO, purchased 5,000 shares at $31.81. Hedge funds snatched 6% of GM’s outstanding shares and amassed a $3.4 Billion position during the last three months of 2010. There were 112 hedge funds with GM positions at the end of December. John Griffin’s Blue Rigde, William Ackman’s Pershing Square, George Soros, David Tepper’s Appaloosa, Roberto Mignone’s Bridger Management, Richard Perry’s Perry Capital, and Leon Cooperman’s Omega Advisors are among the several high profile hedge funds with GM positions. Read More!

Insiderlarin Aldigi 8 Hisse

Insider'larin aldigi 8 hisseden bahseden bir yazi yayinladik. Yavas yavas bu tur yazilara yeniden agirlik vermeye baslayacagiz. Insider Trading Monitor: 8 Stocks With Substantial Insider Purchases adresinden en son yazdigimiz yaziya ulasabilirsiniz. Kisa bir alintiyi asagiya koyduk:

Insider trading is most profitable when several insiders buy around the same time. Academic studies have shown that insider purchases beat index funds by more than 7 % per year when there are several insiders purchasing. During the past two trading days, there were 8 stocks that caught the attention of Insider Monkey .
1. Town Sports Intl (CLUB): This was one of our favorite stocks with insider trading about four months ago. We specifically wrote a separate article covering this stock and told our readers that we added it to our hypothetical portfolio. The stock gained around 57% since we wrote that article. There were more insider purchases last week.
2. Ligand Pharma (LGND): There were several insider purchases after the company announced its earnings mid February. Tom Steyer’s Farallon Capital started a new position in this stock during the fourth quarter. Dan Loeb’s Third Point sold all of their LGND holdings during the fourth quarter.
3. KKR Financial (KFN): This is a large cap stock with substantial insider purchases. Leon Cooperman’s Omega Advisors have a large KFN position. Dan Loeb also have some KFN shares in his portfolio. Read More!

Rajaratnam Davasi

Hedge fonlarin basarili olmasinin en onemli sebebi hedge fon yoneticilerinin "edge" dedigimiz diger yatirimcilara ustunluk saglayacak bilgi ve becerileri elde etme konusunda herkesten daha fazla gayret gostermeleridir. Cogu zaman hedge fonlar en iyi analistleri ve uzmanlari kullanarak yatirim karari verirler. 55 binde destek var, 65 binde kostek var diyerek yatirim yapmazlar.

Raj Rajaratnam da zamaninda sirketlerin yonetim kurullarinda calisan kisilerin bilgi sizdirmasi, sirketlerin icerisindeki kisilerin bilgi sizdirmasi ve daha baska bir cok yontemi kullanarak piyasa getirisinin uzerinde bir performans gostermeyi basarmis. Tabii Fama gibi "etkin piyasa hipotezini" millete kakalamaya calisan uyaniklar hala kimsenin borsa performansinin uzerinde performans gosteremeyecegini iddia ediyorlar ama cok inanan yok bunlara.

Rajaratnam ancak gizli FBI telefon kayitlari neticesinde yakayi ele verdi, bu hafta da mahkemesi basliyor. Bakalim pacayi yirtacak mi yoksa senelerce hapislerde mi surunecek.

Bu konuyla ilgili haberimize Rajaratnam Trial, Charlemagne Capital, Andor Capital baglantisindan ulasabilirsiniz.

Soylemeyi unuttum ama Rajaratnam'in yaptigina yasadisi insider trading deniyor. Insider Monkey blogu Amerika'daki tum sirketlerdeki insider'larin yaptiklari islemleri takip etmenizi saglayan ucretsiz bir kaynak. Insider'lar cogu zaman yakalanmadan islem yapip borsadan kar elde ediyorlar. Bundan faydalanmanin yollarindan bir tanesi de onlarin yaptiklarini takip edip daha sonra taklit etmek. Read More!

Banka Hisseleri

Amerika'da insiderlar tarafindan alinan ve en son ceyrekte piyasa beklentilerinin uzerinde kar rakamlari aciklayan bankalardan bahsettigim bir yazi yayinladim. Ilgilenenler asagidaki linkten okuyabilirler.

Five Surprisingly Profitable Bank Stocks with Insider Purchases Read More!

Insiderlarin Deli Gibi Aldigi 3 Hisse

Insider'lari aldigi hisselerle ilgili haftalik yazilarimiza devam ediyoruz. Gecen hafta listemize giren 3 hissenin hepsi de piyasalarda dayak yiyerek SPY'nin altinda performans gosterdiler. Bu ragmen haftalik kayiplari %0,9 oldu. Borsa endeksi ise %0,5 kaybetti. Bu simdiye kadarki en kotu performansimiz oldu.

Onumuzdeki hafta icin yine 3 hisse belirledik. Bunlardan iki tanesi siradan ufak banka hissesi. Bunu alan insiderlar daha cok bu bankalarin verdigi temettu icin yapiyorlar bunu. Adamlarin gecmis performanslarina bakarak soyluyoruz bunu. Ote taraftan bizim iyi performans gostermesini bekledigimiz ucuncu bir sirket daha var listede. Bu hissenin ne oldugunu ogrenmek icin Three Stocks Insiders Are Buying Like Crazy baslikli yazimizi okumaniz yeterli. Read More!

Borsada Dusmeye Aday 10 Hisse

Amerika'nin en sevdigim ozelliklerinden bir tanesi de finans konusunda on binlerce arastirmanin yapilmis olmasi. Bunlardan bir tanesi de Amerika'daki sirketlerin tepe yoneticilerinin bir plan dahilinde yaptiklari islemleri inceleyen bir makale. Insiderlar onceden bir plan dahilinde hisse satacaklarini Amerika'nin SPK'sina bildirirlerse yaptiklari islemlerden dolayi hapse girme korkusu pek tasimiyorlar.

Yukarida bahsettigim arastirma insiderlarin SPK'ya onceden bildirerek satis yaptigi sirketlerin borsa endeksinin senelik %8 altinda performans gosterdigini ortaya koyuyor. Borsada dusmeye aday bu kriteri gecen hafta saglayan 10 hisse hakkinda 10 Stocks Insiders Are Selling Without Any Fear baslikli bir yazi yazdik. Ilgilenenler okusunlar. Read More!

Insider Trading: Deli Gibi Satin Alinan 3 Hisse

Haftalik olarak yayinladigimiz yazilara bugun yedincisini ekliyoruz. Gecen 6 haftada olusturdugumuz portfoylerin hepsi bir hafta icerisinde S&P 500 endeksinden daha yuksek getiri saglamayi basardilar. Alti haftadaki toplam getiri %20'yi gecti. Gecen hafta sectigimiz 5 hisse ortalama %7,1 getiri sagladi. Saka degil, isin icerisinde bir uc kagit da yok. S&P 500 endeksi ise gecen hafta %1,7 getiri sagladi. Boylece bizim gecen hafta sectigimiz hisseler borsa endeksinin 5,4 puan uzerinde bir getiri saglamis oldu.

Bu hafta da kriterlerimizi 3 hisse sagladi. Bu 3 hissenin ne oldugunu merak ediyorsaniz 3 Stocks Insiders Are Buying Like Crazy baslikli yaziyi okumanizi oneririm. Read More!