RE: Insiders Just Sopping Things Up - RezHey rez,
Before I respond to your post let me clarify my position. It might help you understand where I'm coming from....
My approach, over the past 30 years has always been, first and foremost, to have a diversified portfolio, focusing almost exclusively on Junior and Intermediate commodity plays. That having been said, then I follow a simple philosophy ... that if out of every 5 stocks I buy:
* 1 goes to zero, is suspended and delisted,
* 1 does nothing or declines in price, and I end up putting it on the back-burner,
* 2 appreciate in price, attaining maybe a double for me, and
* 1 is a home-run, in other wards a 10 bagger or better,
I'll do very well.
Anyone who puts all their eggs in one basket is asking for trouble and disappointment. That's why I don't take any real offense to some of your previous personal comments.
For the past 25 years teaching Finance, I've tried to impress upon my students - both undergrads and graduate students - the importance of spreading your risk. I've created, and use on a regular basis, dozens of case studies involving Junior and Intermediate exploration, development, and producing companies.
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Now to your comments. Who knows! Your thoughts on GRN might be valid, but you know, even though I'm a value investor, I've a little "gambler" in me. I consider GRN a highly speculative stock. A long time friend of mine in Vancouver, Canada, was "suckered" into buying 2,000 shares of the IPO back in Nov. of 2009, but his stockbroker's record left a lot to be desired. His broker convinced him that the company would be a real "shaker', but from watching his previous IPO purchases I at least agreed to put it on my watchlist.
As I expected, it embarked on a steady decline. Finally, this Spring, reviewing its technicals as it bumped along the low 20s, I felt it was approaching within10-15% of the technical bottom. In my opinion the business they were in had "little steak" and definitely "no sizzle". In addition the principals I deemed novices. However it was making a little money, and insider accumulation was starting to kick in, and has continued unabated. So I picked up 100K at avg. .22. If they mature as Principals, and turn the stock price around, great. I'll make a profit. If they don't, and decide to unload it as a shell, I'll do even better. If they let it go to zero then c'est la vie, and I have a small tax write-off. That's all part of being in the Market.
Hope the above discourse alleviates some of your concerns.
Cheers,
Brit