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Thanks for the link.

I didn't see the presentation Chanos gave. But, the summary at Forbes isn't making me lose any's basically the fallacy that mungofitch has discussed before:

Seagate is in the business of selling data storage. Falling unit sales (as a result of declines in traditional PC sales) does not mean less data storage is being sold.

Chanos's worry about insider selling is a little unfounded...See the graphic at the top of the page here:

Sure, the last three years have seen more insider selling than the years preceding it. But, a quick comparison of the transactions in the tables suggests that the sales are matched by grants or options vesting. This type of behavior doesn't raise any red flags in my book as I see it as an executive cashing their well-earned, incentive-based compensation. The executive suite at STX seems pretty sharp at allocating capital. So they could just be selling their concentrated portfolios for (personal) diversification purposes. And in case any of us forgot it, has that great Lynch quote on each search page:

"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise."

The "executive departures" warrants some follow-up, though.
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