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Top Insider Trades: Bill Gates Shows the Love for Hazardous Waste


DHC's Richard Hanson checks $237.9 million worth of luggage maker TUMI..

In a victory for common sense, the trading behavior of company executives, directors, and large shareholders in the stocks of firms they're registered "insiders" at have been proven profitable to monitor by both academic studies and (more importantly) the experience of your fellow professional investors.

Below are lists of the top 10 mainly open-market insider purchases and sales filed at the Securities and Exchange Commission DAY TK, DATE TK, 2012 as ranked by dollar value.

Please note, however, that these are factual lists, not buy and sell recommendations. Dollar value is only one metric to assess the importance of an insider transaction, and, frankly, often not even the most important metric that determines if an insider transaction is significant.

Here's a director who is putting her money where her boardroom is: Millika Srinivasan continues her acquisition of AGCO (NYSE:AGCO) stock. Her latest purchase of the farm equipment maker's stock, for $21.8 million, brings her total stake to $61.8 million, or nearly 15% of the company's $4.32 billion market capitalization. Cascade Investment, already a beneficial owner of Republic Services (NYSE:RSG) increased its holdings by $218.2 million. Bill Gates is the major investor behind Cascade, which has been investing in the non-hazardous waste company for at least the past two years. It has made 16 multi-million dollar purchases this year alone.

Travel products maker Tumi Holdings (TUMI) said earlier this week that certain existing shareholders would be offering 10.1 million share in an underwritten offering. Tumi does receive proceeds from the deal. Now comes the filing that shows one of Europe's largest buyout private equity firms, DHC, has sold $237.9 million worth of stock -- just over 11 million shares. Richard Hanson, a principal of DHC, is the chairman of Tumi's board. Two other directors and one vice president have also sold smaller amounts of TUMI.

At, we find new investment ideas just about every day using these and more intricate insider screens to determine where we should focus our subsequent fundamental and technical analysis. And while stocks don't (or shouldn't) move up or down based on insider activity alone, insiders tend to be good indicators of when real stock-moving events like earnings surprises, corporate actions, and new products may be in the offing.

Source: | Key to Insider Title and Trans Type Codes

Source: | Key to Insider Title and Trans Type Codes

Editor's note: Jonathan Moreland is the founder of Insider Insights and author of "Profit From Legal Insider Trading."
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