Strategy
Insider Buying
Clusters of open-market insider purchases.
EXPERIMENTAL
Methodology
- Method
- Form 4 code-P purchases over 90 days, by filing time, with liquidity screens.
- Data
- SEC Form 4
- Horizon
- ~3 months
- Strategy pod
- insider
Risk caveat
Signals are sparse; small samples.
Validation evidence
Underperforms an equal-weight universe in our out-of-sample test.
Simulated, survivorship-biased backtests on today's large caps. Hypothetical; not a forecast. Disclosures.