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Insider Purchases December 18, 2009

Insider Purchases December 18, 2009

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Chain Bridge Investing (“CB”), on a weekly basis, will shift through the significant purchases — defined as an investment of $100,000 or more — that high level managers make in the companies they operate. While an insider’s purchase of his company is not a guarantee that the stock price will increase, a significant purchase can merit additional research. An insider who is putting a large sum of his money into the company he is operating, usually has confidence in the future financial results and its market position. Furthermore, the larger the insider’s ownership the more likely the insider will take corporate actions that are in favor of the shareholder, thus another reason for an investor seeking to allocate capital to prefer insider purchases.

Nevertheless, insiders are not always correct, or perhaps, the information/edge giving them the confidence to buy more shares is fleeting. At times, insiders can become blind to the inadequacies and weaknesses of their companies. As a result, CB uses this process as a means of gathering new potential investment ideas that could merit future research after an initial quick analysis is performed. The results of this week’s search can be found below. In this particular batch, the company DPL Inc. may warrant further consideration from CB. If CB discovers any future investment potential in DPL, it will be posted on www.chainbridgeinvesting.com.

As a final note, these listings are in no way to be construed as financial advice or investment recommendations. These listings are meant to provide ideas to readers for their own research and show parts of the investment research process of CB. Separately, the daily stock prices will not tie to the market capitalizations this week due to the timing of the report. All data is pulled from Stock Pro Investor and Yahoo! Finance. CB is not an investment advisor, please read the disclaimer at www.chainbridgeinvesting.com/disclaimer/.

Stocks, Investing, Investments, Investment Ideas, Insider Purchases, Companies, DPL Inc., SAIC, Dover Saddlery, Fifth Street Finance, DPL, SAI, DOVR, FSC, Value Investing, Cheap stocks, Value, Value Investors, Large Insider Buying, Investment Screens, Significant, Large, markets, indexes, Stock Performance,
Chain Bridge Investing (“CB”), on a weekly basis, will shift through the significant purchases — defined as an investment of $100,000 or more — that high level managers make in the companies they operate. While an insider’s purchase of his company is not a guarantee that the stock price will increase, a significant purchase can merit additional research. An insider who is putting a large sum of his money into the company he is operating, usually has confidence in the future financial results and its market position. Furthermore, the larger the insider’s ownership the more likely the insider will take corporate actions that are in favor of the shareholder, thus another reason for an investor seeking to allocate capital to prefer insider purchases.

Nevertheless, insiders are not always correct, or perhaps, the information/edge giving them the confidence to buy more shares is fleeting. At times, insiders can become blind to the inadequacies and weaknesses of their companies. As a result, CB uses this process as a means of gathering new potential investment ideas that could merit future research after an initial quick analysis is performed. The results of this week’s search can be found below. In this particular batch, the company DPL Inc. may warrant further consideration from CB. If CB discovers any future investment potential in DPL, it will be posted on www.chainbridgeinvesting.com.

As a final note, these listings are in no way to be construed as financial advice or investment recommendations. These listings are meant to provide ideas to readers for their own research and show parts of the investment research process of CB. Separately, the daily stock prices will not tie to the market capitalizations this week due to the timing of the report. All data is pulled from Stock Pro Investor and Yahoo! Finance. CB is not an investment advisor, please read the disclaimer at www.chainbridgeinvesting.com/disclaimer/.

Stocks, Investing, Investments, Investment Ideas, Insider Purchases, Companies, DPL Inc., SAIC, Dover Saddlery, Fifth Street Finance, DPL, SAI, DOVR, FSC, Value Investing, Cheap stocks, Value, Value Investors, Large Insider Buying, Investment Screens, Significant, Large, markets, indexes, Stock Performance,

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Published by: chainbridgeinvesting on Dec 20, 2009
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   I   N   S   I   D   E   R    P   U   R   C   H   A   S   E   S 
CHAIN BRIDGE INVESTING
DECEMBER 20, 2009WWW.CHAINBRIDGEINVESTING.COM
INSIDER PURCHASES
©
2009 Chain Bridge Investing
Chain Bridge Investing (
CB
), on a weekly basis, will shift through the significant purchases
 — 
defined as an investment of $100,000 or more
 — 
that high level managers make in the companies they operate. While an insider
s purchase of his company is
not a guarantee that the stock price will increase, a significant purchase can merit additional research. An insider who is putting alarge sum of his money into the company he is operating, usually has confidence in the future financial results and its market posi-tion. Furthermore, the larger the insider
s ownership the more likely the insider will take corporate actions that are in favor
of theshareholder, thus another reason for an investor seeking to allocate capital to prefer insider purchases.Nevertheless, insiders are not always correct, or perhaps, the information/edge giving them the confidence to buy more shares isfleeting. At times, insiders can become blind to the inadequacies and weaknesses of their companies. As a result, CB uses thisprocess as a means of gathering new potential investment ideas that could merit future research after an initial quick analysis isperformed. The results of this week 
s search can be found below. In this particular batch, the company DPL Inc. may warrant fu
r-ther consideration from CB. If CB discovers any future investment potential in DPL, it will be posted onwww.chainbridgeinvesting.com.As a final note, these listings are in no way to be construed as financial advice or investment recommendations. These listings aremeant to provide ideas to readers for their own research and show parts of the investment research process of CB. Separately, thedaily stock prices will not tie to the market capitalizations this week due to the timing of the report. All data is pulled from Stock Pro Investor and Yahoo! Finance. CB is not an investment advisor, please read the disclaimer atwww.chainbridgeinvesting.com/ disclaimer/ .
LARGE INSIDER PURCHASES FROM DECEMBER 14 - 18, 2009EXHIBITS
 
DateInsiderTitleSharesTrade PriceCost (000s)CompanyTickerP/E P/FCFPSOper.MarginLT Debt/ Total Cap.
12/17/2009Walter P. HavensteinCEO 28,00019.34$ 541.52$ SAIC, Inc.SAI15.6x12.2x8.1%32.6% 12/17/2009Paul M. BarbasPresident & CEO6,00027.84167.04DPL Inc.DPL12.6x38.2x27.7%56.0% 12/16/2009Stephen L. DayCEO & President76,9372.14164.65Dover Saddlery, Inc.DOVRnm4.4x-15.8%65.3% 12/16/2009Federick J. BoyleSVP & CFO10,50028.48299.04DPL Inc.DPL12.6x38.2x27.7%56.0% 12/15/2009Leonard M. TannenbaumCEO & President20,00010.19203.80Fifth Street Finance Corp.FSC40.8xnm-51.8%0.0%
Exhibit A: Companies with Large Insider Purchases from December 14 - 18, 2009
* CEO
= Chief Executive Officer,
P/E
= Price/Earnings Ratio,
P/FCFPS
= Price/Free-Cash-Flow-Per-Share,
Oper. Margin
= Operating Margin;
LT Debt/Total Cap.
= Long-Term Debt/Total Capital,
nm
= not material.
*
All company financial data is downloaded from Yahoo and Stock Investor Pro, Chain Bridge Investing does not guarantee the accuracy of these figures and encourages readers to do their own research.

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