Guest UK Debt Slave Posted June 9, 2010 Share Posted June 9, 2010 Am I paranoid or right to be somewhat suspicious? http://moneycentral.msn.com/ownership?Holding=Institutional+Ownership&Symbol=BP Link to comment Share on other sites More sharing options...
The Eagle Posted June 9, 2010 Share Posted June 9, 2010 The BP CEO did the same: http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/7804922/BP-chief-Tony-Hayward-sold-shares-weeks-before-oil-spill.html BP chief Tony Hayward sold shares weeks before oil spill The chief executive of BP sold £1.4 million of his shares in the fuel giant weeks before the Gulf of Mexico oil spill caused its value to collapse. Tony Hayward cashed in about a third of his holding in the company one month before a well on the Deepwater Horizon rig burst, causing an environmental disaster. [...] His decision, however, means he avoided losing more than £423,000 when BP’s share price plunged after the oil spill began six weeks ago. Since he disposed of 223,288 shares on March 17, the company’s share price has fallen by 30 per cent. This is beginning to look very dirty... --- Link to comment Share on other sites More sharing options...
Timm Posted June 9, 2010 Share Posted June 9, 2010 Am I paranoid or right to be somewhat suspicious? http://moneycentral....rship&Symbol=BP Tipped the wink by someone at Haliburton? Link to comment Share on other sites More sharing options...
war Posted June 9, 2010 Share Posted June 9, 2010 Am I paranoid or right to be somewhat suspicious? http://moneycentral.msn.com/ownership?Holding=Institutional+Ownership&Symbol=BP Paranoid. They just got lucky Unless: 1. They sabotaged the rig 2. God told them that an accident is going to happen Link to comment Share on other sites More sharing options...
The Eagle Posted June 9, 2010 Share Posted June 9, 2010 Paranoid. They just got lucky Unless: 1. They sabotaged the rig 2. God told them that an accident is going to happen Strangely Goldman is always lucky... Have you ever heard of a rig that literally blows up before this one? Link to comment Share on other sites More sharing options...
zebbedee Posted June 9, 2010 Share Posted June 9, 2010 Strangely Goldman is always lucky... Have you ever heard of a rig that literally blows up before this one? Piper Alpha Link to comment Share on other sites More sharing options...
Injin Posted June 9, 2010 Share Posted June 9, 2010 Paranoid. They just got lucky Unless: 1. They sabotaged the rig 2. God told them that an accident is going to happen Sabotage rig - disassemble BP - hand pension funds the empty bag after the government seizes most of what is left with fines for the spill - reboot? Stranger things have happened and for a lot less money. Link to comment Share on other sites More sharing options...
Democorruptcy Posted June 9, 2010 Share Posted June 9, 2010 You don't sell only 44% and keep 56% if you know something. What proportion of his total shares did Hayward sell? Link to comment Share on other sites More sharing options...
Jadoube Posted June 9, 2010 Share Posted June 9, 2010 You don't sell only 44% and keep 56% if you know something. What proportion of his total shares did Hayward sell? Exactly. Also, who bought? Link to comment Share on other sites More sharing options...
The Eagle Posted June 9, 2010 Share Posted June 9, 2010 Exactly. Also, who bought? Probably your pension fund... Link to comment Share on other sites More sharing options...
The Eagle Posted June 9, 2010 Share Posted June 9, 2010 You don't sell only 44% and keep 56% if you know something. You do unless you want to make it blatantly obvious that it's an insider trade. What proportion of his total shares did Hayward sell? See article above. Link to comment Share on other sites More sharing options...
OnlyMe Posted June 9, 2010 Share Posted June 9, 2010 How lucky they don't even follow their own analysts too. http://wealth.net/2010/06/a-series-of-lucky-coincidences-involving-goldman-sachs-and-bp-plc/ As the first chart above demonstrates, there is an “odd” correlation between Goldman’s sellside sentiment on the stock, and the amount of stock held by Goldman’s asset management arm, especially evident in the days between December 31, 2009 and March 31, 2010, when despite a recent Buy rating attached to the firm, GSAM sold off more than 40% of its stake in the name. On December 31, Goldman held 71 million BP shares, and three months later this numhttp://wealth.net/2010/06/a-series-of-lucky-coincidences-involving-goldman-sachs-and-bp-plc/ber went down 42.5 million. Another oddity is that back in 2008, when GS had the stock at Neutral, GSAM doubled its stake in the firm from 28.8 million shares to 57.3 million days before Ms. della Vigna raised the stock to a Buy, albeit if only for just over a month. Oddly enough, in the half year period when Goldman was telling its clients to Sell the stock, between 3/31/2009 and 10/28/2009, GSAM holdings declined by a whopping -3.9%. Link to comment Share on other sites More sharing options...
interestrateripoff Posted June 9, 2010 Share Posted June 9, 2010 Paranoid. They just got lucky Unless: 1. They sabotaged the rig 2. God told them that an accident is going to happen What about they had engineers telling them there was a potential problem and the head of BP decided to sell his shares and used Goldman to do it? Nothing paranoid about that. Link to comment Share on other sites More sharing options...
kilroy Posted June 9, 2010 Share Posted June 9, 2010 You don't sell only 44% and keep 56% if you know something. What proportion of his total shares did Hayward sell? maybe he shorted the rest on IG Index Link to comment Share on other sites More sharing options...
Democorruptcy Posted June 9, 2010 Share Posted June 9, 2010 You do unless you want to make it blatantly obvious that it's an insider trade. See article above. Wells Fargo Bank upped their holding by 112% against the trend! A typical banker's casino style bet? Possible bonuses or tax payer bailout if it goes pear shaped. Link to comment Share on other sites More sharing options...
The Eagle Posted June 9, 2010 Share Posted June 9, 2010 What about they had engineers telling them there was a potential problem and the head of BP decided to sell his shares and used Goldman to do it? Nothing paranoid about that. That would still be insider trading and therefore illegal. Shame that the police is too busy fineing grannies for overfilling their rubbish bins. --- Link to comment Share on other sites More sharing options...
swissy_fit Posted June 9, 2010 Share Posted June 9, 2010 You don't sell only 44% and keep 56% if you know something. What proportion of his total shares did Hayward sell? Why? That's how I would do it if I was insider trading something like this. Sell about half and use the cash on something that I knew would be affected by a drilling ban, like oil futures a few years ahead...... No-one is always lucky, except for GS. Link to comment Share on other sites More sharing options...
The Eagle Posted June 9, 2010 Share Posted June 9, 2010 Wells Fargo Bank upped their holding by 112% against the trend! A typical banker's casino style bet? Possible bonuses or tax payer bailout if it goes pear shaped. Was it the bank themselves, or the pension fund of their emplyees? Link to comment Share on other sites More sharing options...
Democorruptcy Posted June 9, 2010 Share Posted June 9, 2010 Anyone find it heartening the number of people who think GS could be worried about being done for insider dealing? More top bombing expected from the robust and never miss anything financial regulators? Link to comment Share on other sites More sharing options...
R K Posted June 9, 2010 Share Posted June 9, 2010 Sabotage rig - disassemble BP - hand pension funds the empty bag after the government seizes most of what is left with fines for the spill - reboot? Stranger things have happened and for a lot less money. If the US forces them to offload their Gulf assets and perhaps their shale sand assets to Exxon, or indeed Exxon end up owning BP then it starts to look a tad dodgy. The question then I suppose would be was it just 'business' or intentional negligence or worse. I mean, the US invade sovereign countries precisely for these sort of assets. Link to comment Share on other sites More sharing options...
Brave New World Posted June 9, 2010 Share Posted June 9, 2010 If the US forces them to offload their Gulf assets and perhaps their shale sand assets to Exxon, or indeed Exxon end up owning BP then it starts to look a tad dodgy. The question then I suppose would be was it just 'business' or intentional negligence or worse. I mean, the US invade sovereign countries precisely for these sort of assets. Massive and yawning lack of coverage in the States of TansOcean’s role in all of this, maybe they are just crap but who knows maybe being too Tinfoil hat here but it is not as if it was BP workers and BP equipment at the helm of this when it blew, this was a US company who were immediately responsible for the drill. Could this be these evil oil hungry republicans taking out two birds with one stone - Obama (although he has played his own role in this) and BP? Link to comment Share on other sites More sharing options...
R K Posted June 9, 2010 Share Posted June 9, 2010 Massive and yawning lack of coverage in the States of TansOcean's role in all of this, maybe they are just crap but who knows maybe being too Tinfoil hat here but it is not as if it was BP workers and BP equipment at the helm of this when it blew, this was a US company who were immediately responsible for the drill. Could this be these evil oil hungry republicans taking out two birds with one stone - Obama (although he has played his own role in this) and BP? http://ftalphaville.ft.com/blog/2010/06/09/255726/danger-knife-still-falling/ Link to comment Share on other sites More sharing options...
Brave New World Posted June 9, 2010 Share Posted June 9, 2010 Cheers for the link, some interesting comments on it. Makes me realise even further why I have no desire to go anywhere near Satan’s **** of the States. The most malevolent country of the last 50 years. Run by the Christian stupid for the stupid. The UK needs to save money – leave the tossers Afghan and be done with it. Let’s hope for some ironic chants on Saturday! This post was petty but the US really is a twatbasket. Link to comment Share on other sites More sharing options...
Peter Hun Posted June 9, 2010 Share Posted June 9, 2010 The BP CEO did the same: http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/7804922/BP-chief-Tony-Hayward-sold-shares-weeks-before-oil-spill.html This is beginning to look very dirty... --- Neil Woodward sold 100% of his holding. Obviously anyone who share or buys share is responsible for whatever happens to that company before and after they get involved. Woodward also sold Shell, so expect nuclear war any time soon. You have been warned. Link to comment Share on other sites More sharing options...
scottbeard Posted June 9, 2010 Share Posted June 9, 2010 Strangely Goldman is always lucky... Sabotage rig - disassemble BP - hand pension funds the empty bag after the government seizes most of what is left with fines for the spill - reboot? Stranger things have happened and for a lot less money. Dear oh dear this sort of stuff does spoil this website. Is Goldman always lucky or is that just your perception? I'd have to see a wealth of data on their investment timings before I'd come to that conclusion. And if you owned shares in a successful oil company, why not just keep them and earn lots of money? Why sell them and sabotage the company, causing real environmental destruction in the process? Like so many conspiracy theories it makes no sense. BP shares are traded every day, someone was bound to have sold just beforehand. If that was an unknown investment bank rather than Goldmans 9as must be the case for most such incidents) it would get no press here. Link to comment Share on other sites More sharing options...
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