I have been specializing myself in the insider topic with months of empirical research to understand the trades and their informativeness. Insiders are the high managers, directors and majority shareholders of a firm and know their company better than anyone else as they are close to the strategic and financial decision making. Insider purchases (which doesn't include option exercises) are very interesting to follow for two purposes. First, my recent research found that on average the S&P 500 (SPY) performs better (especially in the long term) when more insiders purchase their stock. As