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Caterpillar insiders buying up shares

A site called Gurufocus notes several stock share purchases by Caterpillar brass:

Director Daniel M Dickinson bought 3,037 shares of CAT stock last Friday … Director Peter A Magowan bought 15,000 shares total January through February …

Generally, insider buying picks up around market bottoms. Historically, Caterpillar has bottomed around $30 a share, so these are not unreasonable bets. Mind you these are exceptionally wealthy individuals (Magowan owns the San Francisco Giants) so they’re gambling with bucks they can afford to lose.

(Thanks to Alert Reader G. for tipping me to these buys).

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Tom Mangan posted at 8:16 am February 9th, 2009 |