Manfred E. Birnbaum

Manfred E. Birnbaum discloses dealings in 2 companies, chiefly EnSync, Inc. and American Clean Resources Group, Inc. In total, 39 filings cover trades dated from 11 December 2009 to 30 September 2017.

In open-market terms, that means 14 purchases worth €99k on one side and 8 sales worth €41k on the other. Netting one side against the other leaves €57k of net buying. A purchase on the market is a deliberate choice to commit personal money, which is why it draws more attention than a grant. Other entries cover 1 share grant and 16 option exercises. In 2017 alone, the filings show no purchases and 6 sales.

A typical purchase (the median) is worth €4,404. Looking at 12 purchases old enough to measure, the stock rose over the following 90 days in 42% of cases; the median change was -9.3%. This is a record of the past, not a forecast.

On 3 October 2017 came the latest disclosure, an option exercise in EnSync, Inc. The latest purchase dates back some time: it was published 4,327 days ago, on 19 December 2014. Filings reach the SEC (Form 4) feed a median of 2 days after the trade. Section 16 rules allow two business days to file each Form 4. Source: insider filings from SEC (Form 4). Past trades are no guide to future returns.