No. of Recommendations: 7
brucedoe

Good for you on being smart enough to sell your TMA.

I was surprised when you said "often officers buy stock to support the stock price. Sometimes they are given quotas to buy."

TMA has about 123,000,000 million shares outstanding. I have not calculated what management bought on the way down, however I would guess that it is less than a couple of million shares - an amount that would hardly support the stock.

I was an investment banker at two major firms over almost 30 years and was and adviser and friend to dozens of executives who confided in me about a number of personal and corporate issues. Never once did they tell me that they had been given a quota of stock to buy or were in any way pressured to buy stock in their company. Invariably they only bought stock outright when they thought it was going to go up, particularly since they often had a large stake in the company relative to their net worth because of options, deferred compensation etc.

I would love to be educated about how you come to the statement "often officers buy stock to support the stock price. Sometimes they are given quotas to buy."
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