By David Scott | Monday 11 September 2017
Nobody rings a bell at the top or bottom of the notoriously cyclical UK housing market, but one operator who has shown impeccable timing over decades was busy selling stock last week. Famously near the top of the last cycle he sold out and left his company only to re-join when it was in the doldrums. This is why it is very important to take note of his actions. Last week Berkeley (BKG) founder Tony Pidgley, sold 750,000 shares to make £26.8m as bosses at Berkeley cashed in more than £40 million of shares as they reached record highs. As the stock hit 3575p, the luxury housing developer’s founder Tony Pidgley, who left school at 15, sold 750,000 to make £26.8 million, while chief executive Rob Perrins sold 500,000 to make £17.8 million.
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