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Stock Market

Raymond Wirta loves selling CBRE’s stock!

October 9, 2008

CB Richard Ellis GroupRay Wirta is a member of the board of directors for the CB Richard Ellis Group, a real estate company. He’s also a nicely-liquid millionaire thanks to his fire-sale of “da Group’s” stock. Since August 5th he’s sold over 3.3 million shares at a street value of over $26 million.

His last stock dump two days ago was far and away his largest — 1.3 million shares for nearly $11 million dollars. The scary part? He unloaded these shares at just $1.00 above the 52 week low. This one is probably going lower…

Finviz has the paper trail.

More on this topic (What's this?)
Asset Allocation Rules May Lead Institutional Investors to Reduce Real Estate Holdings (naked capitalism, 11/11/08)
Quelle Surprise! Manhattan Real Estate Prices Drop Sharply (naked capitalism, 10/3/08)
Real Estate Shows ‘Glimmer of Hope’ for the Economy (Contrarian Profits, 10/10/08)
Read more on Real Estate, CB Richard Ellis Group at Wikinvest
Posted in Stock Market by Jacopo Kane
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Starring: CB Richard Ellis Group, Raymond Wirta
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