Running Commentary on the SP Movements., page-161

I once sold 30% of my share holding in a company I had a material interest. Simply because the funds were needed elsewhere but i won't disclose the reasons. Not always a reflection of the company. Equally I've held shares in companies where directors were buying up big time and the share price went south. Markets are initially guided by director buying and selling however in the long term they are often misleading. A new Telstra director bought 100,000 Telstra shares on-market at almost $6 two years ago. I'm sure he's laughing now with the sp at $3.45