A Buy on Nov 28, 2012
FUNCEF "purchased 454,000 common shares issued by the Company, reaching relevant participation of 5.07% of the total capital stock of the Company, in a total amount of participation of 21,967,800 common shares of Gafisa."
A Sell on Jan 10, 2013
"FUNCEF sold 679,400 shares issued by Gafisa, decreasing its participation to 4.85% of the total capital stock of the Company, equivalent to 20,998,600 common shares issued by the Company."
A Buy on March 20th, 2013
"The Investor purchased 3,380,300 common shares issued by the Company, reaching relevant participation of 5.50% of the total capital stock of the Company, in a total amount of participation of 23,835,800 common shares of Gafisa on March 20, 2013"
Buyers at $4 sellers at $5...overall hinting boatload at $3.5. Still, this a very under owned stock, considering World Cup around the corner.
I try to buy good companies when they are down, when the fundamentals are beginning to improve for the first time - which is also the time when disgusted shareholders sell to get out (and I buy to get in). Sellers sell because of the recent memory of how bad the stock has performed for them. I have to have a long-range horizon - this is what I learned when I switched from trading to investing. Big difference. If you know your company and you can dollar-cost average over time, it's possible to pull a Bill Miller every year. It takes about 16 months to really pull the fruit off the tree.