PARKSON HOLDINGS reported that the following Principal Officers had acquired shares in the Company as follows:
1. CHENG YONG KIM - Jan 15 to 18, 2008 - acquired 5.42m shares at between RM8.40 and RM9.00 per share.
2. CHENG YOONG CHOONG - Jan 15 to 18, 2008 - acquired 4.63m shares at between RM8.40 and RM9.00 per share.
3. KOK WAI HUNG - Jan 7, 2008 - acquired 1,000 shares at RM9.20 per share.
Jeff Imelt, CEO and Chairman of General Electric bought quite a bit of shares in the beginning of this year and I think he is also suffers at least 25% personal loses.
Studies have shown that insiders typically have long time horizon in their investment. I hope they are right.
Change subject on timing the market and bargains. Kirk Kerkorian the seven richest man in American who started from nothing, bought almost 10% of General Motors thought they were a bargain at $ 30. He was shrewd enough to get out in time and now trading at 53 year low, selling for $ 11. 53 year low!
Buy low and sell high sound very simple but we won't know how difficult it is until we do it - even pros get it wrong. Just something to think about.