Go to Jeff Salisbury LWGate Home Page.From: "Rob Miller" <rmiller2@carolina.rr.com>
Subject: Re: [CANSLIM] what is to much ownership??
Date: Tue, 26 Feb 2002 19:45:24 -0500
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Rich,
Sorry for the long winded answer...but...as you know, DGO only includes =
banks and funds. They exclude institutional sponsors, pension funds, =
endowments, etc. Bank and fund holdings tend to be more volatile which =
is why I think DGO includes them. Institutional sponsors will often =
hold stocks for political or other reasons. For example, an endowment =
may hold the stock of a company that they have some relationship with, =
or a investment management company may hold a stock because a wealthy =
client has directed them to do so. These holdings tend to change much =
less frequently. As for TALX, the reason for the abrupt change in =
ownership appears to be that their venture capitalist, HLM Management, =
sold all their holdings. At the end of the third quarter, HLM owned =
almost 27.5% of the stock, all of which was sold by year end. This is =
not uncommon. Venture capitalist firms are strong holders while they =
wait for their hand to play out, but once their objectives are met, =
they're gone.
It would be better if DGO included some institutional sponsors. A fund =
company like Janus could own 1 million shares total, but only 100,000 =
shares in retail mutual funds. The rest would be in separately managed =
(private) accounts, which would not show up on DGO. Alas, that would be =
asking too much. =20
Rob =20
=20
----- Original Message -----=20
From: Rich W=20
To: canslim@lists.xmission.com=20
Sent: Tuesday, February 26, 2002 6:02 PM
Subject: Re: [CANSLIM] what is to much ownership??
Rob,
I do have DGO and here is what they show today
Funds 13%, Banks 8 %, and Mgmt 12%
I just went back to Market guide and now they show 67% with 3.5m sold =
since last report.
this in 10 days ( not sure when this took place).
MSN also shows about the same now, but also showed big % on the 15th
when I wrote to DGO as to why they had so much smaller numbers, they
said they do not include as much ( can not find the answer now, was =
from the 15th).
So I am not sure who to check for ownership, but it does show one must =
check more
than one source for the facts.
the stock is TALX, a St.Louis Co.
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<BODY bgColor=3D#ffffff>
<DIV><FONT face=3DArial size=3D2>Rich,</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Sorry for the long winded =
answer...but...as you=20
know, DGO only includes banks and funds. They exclude =
institutional=20
sponsors, pension funds, endowments, etc. Bank and fund holdings =
tend to=20
be more volatile which is why I think DGO includes them. =
Institutional=20
sponsors will often hold stocks for political or other reasons. =
For=20
example, an endowment may hold the stock of a company that =
they have=20
some relationship with, or a investment management company may hold a =
stock=20
because a wealthy client has directed them to do so. These =
holdings tend=20
to change much less frequently. As for TALX, the reason for =
the=20
abrupt change in ownership appears to be that their venture=20
capitalist, HLM Management, sold all their holdings. At the =
end of=20
the third quarter, HLM owned almost 27.5% of the stock, all of =
which=20
was sold by year end. This is not uncommon. Venture =
capitalist firms=20
are strong holders while they wait for their hand to play out, =
but=20
once their objectives are met, they're gone.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>It would be better if DGO included some =
institutional sponsors. A fund company like Janus could =
own 1=20
million shares total, but only 100,000 shares in retail mutual =
funds. The=20
rest would be in separately managed (private) accounts, which would not=20
show up on DGO. Alas, that would be asking too=20
much. </FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Rob </FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial =
size=3D2> </FONT></DIV>
<BLOCKQUOTE dir=3Dltr=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
<A title=3Drich1334@brick.net href=3D"mailto:rich1334@brick.net">Rich =
W</A> </DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A =
title=3Dcanslim@lists.xmission.com=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Tuesday, February 26, =
2002 6:02=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] what is =
to much=20
ownership??</DIV>
<DIV><BR></DIV>
<DIV><FONT face=3D"Comic Sans MS" size=3D2>Rob,</FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS" size=3D2>I do have DGO and here is =
what they=20
show today</FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS" size=3D2>Funds 13%, Banks 8 %, and =
Mgmt=20
12%</FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS" size=3D2>I just went back to Market =
guide and=20
now they show 67% with 3.5m sold since last report.</FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS" size=3D2>this in 10 days ( not sure =
when this=20
took place).</FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS" size=3D2>MSN also shows about the =
same now, but=20
also showed big % on the 15th</FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS" size=3D2>when I wrote to DGO as to =
why they had=20
so much smaller numbers, they</FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS" size=3D2>said they do not include as =
much ( can=20
not find the answer now, was from the 15th).</FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS" size=3D2>So I am not sure who to =
check for=20
ownership, but it does show one must check more</FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS" size=3D2>than one source for the=20
facts.</FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS" size=3D2>the stock is TALX, a =
St.Louis=20
Co.</FONT></DIV>
<DIV><FONT face=3D"Comic Sans MS"=20
size=3D2></FONT> </DIV></BLOCKQUOTE></BODY></HTML>
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Next Article (by Author): Re: [CANSLIM] what is to much ownership?? "Tom Worley"
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