Last week some analyst said Bank HaPoalim is accumulating profits to make a large dividend payment in May 2011. It seemed reasonable to me so I started buying. Today it became known that Shery Arison, the owner of the controlling shares, is selling 200 million dollars worth of Poalim stock to the public. Poalim dropped 2.5% today.
What can I say? Thanks, Shery, for this lesson! (In the pic, NOT Shery.)