Wednesday, March 07, 2007

Did the Toll Brothers know the RE crash was coming?

or was that just good timing . . . here's a story about selling at the top (and I don't mean luxury homes) from the Street.com

"Everybody knows that Robert Toll and his brother Bruce, of the legendary homebuilder Toll Brothers are experts at building luxury homes. What we didn't know, until recently, is that they also are experts at selling shares.

Big time.

Back at the peak of the real estate market, when real estate agents and Wall Street shills were claiming the good times would just keep going, the Tolls took one look at the future ... and started shoveling shares out the door as fast as they could swing a spade.

In total, they sold nearly $470 million worth of stock in their company between November 2004 and September 2005, filings with the Securities and Exchange Commission show.

Nice timing -- for them."

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