Any and all posts on here about ASIC investigating director...

Any and all posts on here about ASIC investigating director sales, or a class action, are totally nuts. The director sales were all within acceptable windows (which are actually very limited due to blackout periods, material information, etc). All holders had the option to sell when PF did, and indeed there was plenty of opportunity to sell higher than he did in the following month.

Director sales like this nearly always signal a top, even if only in the short term (because if enough people think it’s a signal, they sell and fulfil their own prophecy). Unless you’re completely new to the ASX, almost every director sale mentions ‘tax reasons’, but we’re never told the actual split. That’s because no company director wants to say “I’m taking advantage of these frothy prices” (except for the DickerData bloke, who is always pretty blunt).

It was all by the book, so it’s a bit late now talking about ASIC and class actions. Sorry for the bluntness but that’s the truth. Just take it as a lesson for next time you’re in a cyclical stock and a director unloads almost half of his ordinary shares…