Updated Lake Short report from J Capital, page-122

There is a close correlation between those at the top of a company selling stock and subsequent underperformance of the share price.Some handy research by stockbroking firm Wilsons found that in 2016, of the companies whose management sold large parcels of shares, 76 per cent of them underperformed the market after the sale. On average their share prices fell by a massive 14 per cent.There are many red flags to provide warnings when buying shares but one that even the most unsophisticated investor can watch out for is a company's directors or senior management selling shares.They are the real insiders.