The TRUTH of insider trading a la Joshua Brown


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I liked Joshua Brown’s Insider Buying/Selling: The Collected Wisdom of a Thousand Heartbreaks (see it also posted at the CSMonitor with the toned-down title: ‘Debunking Myths…’)

There has been a lot of talk during this rally that the insiders — in the aggregate — were selling stock all the way.  The Pragmatic Capitalist has done a good job following this trend of insider selling.  In Brown’s piece, he lists 10 things he learned about insider trading — all gross generalizations, but interesting nonetheless.

My favorites?

2. Technology executives would rather be locked in a dark basement, listening to Billy Joel’s Uptown Girl on an endless loop, than make an open market purchase of their own stock.


9.  I avoid the stocks of executives who go on TV and speak promotionally while dumping larger-than-normal blocks of their own stock.  This is because I’m street smart and Street smart.  It’s not always the right thing to do, but I sure feel better.

As I’ve written repeatedly here and in my book due out in June, insider buying/selling is more useful when trying to size up individual stocks than the market in general. 

Amen, Josh.

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