When I say that they have missed the rally, I meant that they haven't been buying. They were buying in September of 2001 and 2002, even though things looked terrible then. The selling has been pretty steady, no matter what the condition of the Market. Gates is a steady seller, in order to fund his charity. Turner sold a huge chunk of AOL because he was quitting the company. I don't know why Ballmer sold, but that may also not have been because stocks were rallying.
Hard work often pays off over time,
but laziness always pays off right now.