IKN

a plague o both your houses

Sheldon Heart Sheldon’s Companies

The CEO pose

We’re often snarky and scathing about blatant insider selling by company directors that care far more about their own back pockets than the wellbeing of shareholders, so it’s fair dinkum* to note some significant insider buying today, point a finger at a director using his money to add stock in his companies and say “Good on yer, mate”*

So let’s highlight Sheldon Inwentash, head honcho at Pinetree Capital (PNP.to) and w00t him with a “Hey dude..serious buying”. Here’s the latest set of filings….


Pinetree Capital Ltd. (PNP)

As of December 3rd, 2009
Filing Date Transaction Date Insider Name Ownership Type Securities Nature of transaction # or value acquired or disposed of Unit Price
Dec 03/09 Dec 02/09 Inwentash, Sheldon Direct Ownership Common Shares 10 – Acquisition in the public market 20,600 $2.217
Dec 03/09 Dec 02/09 Inwentash, Sheldon Direct Ownership Common Shares 10 – Acquisition in the public market 8,000 $2.150
Dec 03/09 Dec 02/09 Inwentash, Sheldon Direct Ownership Common Shares 10 – Acquisition in the public market 116,500 $2.169
Dec 03/09 Dec 02/09 Inwentash, Sheldon Direct Ownership Common Shares 10 – Acquisition in the public market 54,900 $2.224
Dec 02/09 Dec 01/09 Inwentash, Sheldon Direct Ownership Common Shares 10 – Acquisition in the public market 68,700 $2.123
Dec 02/09 Dec 01/09 Inwentash, Sheldon Direct Ownership Common Shares 10 – Acquisition in the public market 4,200 $2.142
Dec 02/09 Dec 01/09 Inwentash, Sheldon Direct Ownership Common Shares 10 – Acquisition in the public market 103,000 $2.105
Dec 02/09 Dec 01/09 Inwentash, Sheldon Direct Ownership Common Shares 10 – Acquisition in the public market 24,100 $2.143
Dec 02/09 Nov 30/09 Inwentash, Sheldon Direct Ownership Common Shares 10 – Acquisition in the public market 8,100 $2.078
Dec 02/09 Nov 30/09 Inwentash, Sheldon Direct Ownership Common Shares 10 – Acquisition in the public market 91,900 $2.092
….but that’s just brushing the surface really, as our hero Shelly has added a total 1,103,900 shares of PNP to his portfolio in November and December 2009 to bring his total up to 3,136,144. But wait! There’s more! In the same period he’s tacked on insider purchases in other companies where he sits as director or advisor or general moneybagman. The list includes 434,000 shares of Latin American Minerals (LAT.v), 830,000 shares of Mega Uranium (MGA.to) as well as other purchases in smaller stuff. So hats off to Sheldon for putting his money where his mouth is. Say what you like about the guy, but at least he has confidence in himself and his companies.

*I’ve come over all Australian today. No idea why.

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