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Why it pays to follow buyers in the boardroom
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INVESTORS who followed Scottish directors' buying patterns in 2005 will have been richly rewarded.
The biggest spending directors have all seen handsome gains on their investments and the three most active boardrooms - where six directors upped their stakes - are also in the black on their deals.
Etc...
The shares were languishing at just 17p at the beginning of 2003 but have since risen more than 20-fold.
Despite the rise three directors upped their stakes just before Christmas. The buying spree was led by chief executive Oliver Vellacott who bought 100,000 shares at 290p each.
In October chief technology officer Barry Keepence purchased 10,000 shares at 161p per share - a stake which has since more than doubled in value.
Private investors who regard several directors consistently buying shares in their company as a good sign will also have been well rewarded by watching the spending habits of the Aggreko board during the year.
Six directors at the temporary power group went into the market a total of 11 times to buy shares in the company which has seen its market value rise throughout the year and recently hit a three-year high.
The biggest spending was seen in March when three directors - led by chief executive Rupert Soames - bought shares at 171p.
Since then they have risen in value by more than 50% as the company benefited from the clean-up operations following hurricanes Rita and Katrina.
Credit Suisse First Boston Technology Index (Csfb) Final Settlement Value stock quotes
Credit Suisse First Boston Technology Index (Csfb) Final Settlement Value stock charts
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