Marcus Blackmore told his board he sold 150,000 shares of his stock to buy a yacht

If nothing else, maybe you’ve just got to appreciate this Australian chairman’s honesty.

Marcus Blackmore, chairman of Blackmores, a leading Australian vitamin and natural health company, told his board in a letter that he sold 150,000 shares of the company to “reduce his personal debt” and buy a yacht (h/t Bloomberg’s Matt Levine).

The letter was dated March 13th. On March 12th, Blackmores’ stock looked like this…

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