Reading Insider Buying Without the Hype

What counts as signal

We favor clusters (multiple insiders) and size vs. salary. One-off 10b5-1 sales rarely matter; open-market buys do.

• Cluster buys across C-suite
• Open-market vs. scheduled selling
• Size relative to comp and ownership

Context matters

Pair insider activity with catalysts and valuation. Insider buys pre-earnings with beaten-down multiples carry more weight.

Checklist

Before adding, we validate liquidity, catalysts, and whether hedge fund flow is aligning with insiders.