Google Exec Stock Selling
This comes from John’s blog:
_According to the_ _SF Chron_ _(via GoogleSystem), 14 Google Execs sold $4.4 billion in stocks last year and this year a dozen have sold $1.9 billion. “That includes founders Sergey Brin and Larry Page, each of whom sold about $1.3 billion worth of stock.” They were actually asked about this at Google Day and Brin responded that like any investor it’s wise to diversify but that he intends to keep the vast majority of his stock “forever.” Based on the insider stock trade filing, the Chron also finds that of the $11.3 billion in personal income tax receipts California pulled in April, approximately an eighth or more derived from Googlers._(source)
I am very sorry to say, and I think I said it repeatedly, selling $1.3 billion in stock is not diversification! I can understand that they sold, because they have an amazingly high value, but if they truly believed that the stock was worth something, they would sell in smaller chunks. I mean they don’t need more than a few million now. Why not sell later? You only sell in huge amounts if you believe that huge amount to be less valuable at a later date.