Yesterday, Folks, at a little after 11:00 AM (May 22, 2013), DuPont's Chief Innovation Officer read some remarks, likely cobbled together by his extensive understaff, on a Goldman Sachs Materials Conference Call. Mr. Connelly waxed large, blabbering about all sorts of glorious but vague products and technologies supposedly in DuPont's rich "science" pipeline.
Connelly brags about "our next generation refrigerant Opteon YF" for car A/C or HFO-1234yf. We call it for short the Kullman Koolant after DuPont's CEO Ellen Kullman and the highest ranking Company engineer.
What Connelly does not tell you and covers up in dishonest fashion in our opinion is the glaring fact the Kullman Koolant has been roundly rejected and renounced on safety grounds by Daimler-Benz, VW, and BMW, representing a third of the global new car market. Seems last fall to their shock, Daimler engineers discovered in their own independent investigations that the Kullman Koolant could explode into a highly toxic gas fireball potentially killing trapped driver and passengers in the event of a serious crash, and a leak of the Kulllman Koolant over a very hot engine part.
We believe potential legal liability could be staggering for a car-maker, dealer, and suppliers if the worst fears of Daimler's exacting engineers are ever realised in a high-speed collision. But that doesn't keep DuPont's Chief Innovation Officer from citing the potentially dangerous Kullman Koolant as a supreme DuPont "Innovation" without qualification.
Merely the morning remarks of one individual investor and long-time student of the dissimulating DuPont Company...funfun..
Readers, now this is ironic. Only days, before DuPont's Chief Innovation Officer broadcasts DuPont's razzle-dazzle future as a "science" powerhouse, he dumps DD shares, and dumps then on a big scale! His portfolio is not where his mouth is.
Indeed and in fact, elfin Tom Connelly, Jr, dumped a load of DuPont shares two weeks ago. On May 9, 2013, Connelly dumped 50,000 shares @ 55.08 for total proceeds of circa $3 million, or $2,754,000 to be exact. And, not only that, he apes the action of his boss, DuPont "Chair" & CEO Ellen Kullman who dumps over $6 million in DD shares.
Now if Mr. Connelly really believes in all of these exciting promises in his rich futuristic pipeline chock full of
glorious "science" products to come, why is he unloading big-time?
Inquiring investor minds want to know. ...funfun..
Wait ... stupid idea. Hold on, ready? The market is too HOT and most stocks are overbought. Oh man, what a concept huh? Investing on fundamentals. Nah, that can't be it. We just make an one time purchase at market highs and cry when the market drops – isn’t that your investing philosophy?