Warren Buffett and Charlie Munger were ‘Sidelined in Fear’ During the Coronavirus Crash, Investor Bill Smead Says (Business Insider)
Berkshire Hathaway‘s CEO and vice chairman failed to capitalize on the coronavirus crash because they were too afraid, longtime investor Bill Smead wrote in his second-quarter shareholder letter this week. “We are huge fans of Warren Buffett and Charlie Munger, but it is unlikely they have been more scared by economic circumstances in my lifetime than they were in March through May,” Smead Capital Management’s portfolio manager said. The “most brilliant value investors of all time” were “sidelined in fear and trapped out by size considerations,” Smead continued, referring to the pair’s challenge in finding deals that can move the needle at a $450 billion conglomerate.
Thursday 7/16 Insider Buying Report: PSTX, AZZ (Nasdaq.com)
At Poseida Therapeutics, a filing with the SEC revealed that on Tuesday, Director David Hirsch bought 250,000 shares of PSTX, at a cost of $16.00 each, for a total investment of $4M. Bargain hunters have the opportunity to bag PSTX even cheaper than Hirsch did, with shares trading as low as $13.75 in trading on Thursday — that’s 14.1% under Hirsch’s purchase price. Poseida Therapeutics is trading up about 10.5% on the day Thursday. This buy marks the first one filed by Hirsch in the past year. And on Wednesday, President & GM – Electrical Ken Lavelle purchased $169,565 worth of AZZ, purchasing 5,500 shares at a cost of $30.83 each. AZZ is trading up about 4.3% on the day Thursday. Lavelle was up about 5.4% on the buy at the high point of today’s trading session, with AZZ trading as high as $32.51 in trading on Thursday.
Axonics Modulation Technologies Inc (AXNX) CEO Raymond W Cohen Sold $1.9 million of Shares (Guru Focus)
CEO of Axonics Modulation Technologies Inc, Raymond W Cohen, sold 50,000 shares of AXNX on 07/14/2020 at an average price of $38.42 a share. The total sale was $1.9 million. Axonics Modulation Technologies Inc has a market cap of $1.56 billion; its shares were traded at around $39.83 with and P/S ratio of 32.94.
A Major Shareholder at Standard Diversified (NYSE MKT: SDI) is Selling Shares (Analyst Ratings)
Today, a Major Shareholder at Standard Diversified (SDI), Standard General L.P., sold shares of SDI for $17.07M. The company has a one-year high of $20.95 and a one-year low of $6.50. Currently, Standard Diversified has an average volume of 41.03K. Standard General L.P.’s trades have generated a 12.0% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily.
Penumbra Inc (PEN) CEO and President Adam Elsesser Sold $1.5 million of Shares (Guru Focus)
CEO and President of Penumbra Inc, Adam Elsesser, sold 8,000 shares of PEN on 07/13/2020 at an average price of $191.9 a share. The total sale was $1.5 million. Penumbra Inc designs, develops, manufactures and markets medical devices. The products of the company address ischemic stroke, hemorrhagic stroke and vascular conditions that can be treated through thrombectomy and embolization procedures.
