Because there is solid proof behind it (studies have been done on this exact thing)
Though it is not infallible, insiders can be overly optimistic about their companies future, there are times when the signal becomes more significant. What NC and GR did yesterday is an example of one of those times. That is,
a) two insiders bought on market. They KNOW where the company is heading.
b) they bought on price weakness (maybe not planned, but opportunistic). This is the second time NC has bought on price weakness in the past six months. Makes me think he is a fairly savvy investor. This is good sign they believe the company is undervalued.
Caution: I did a lot of reading on this subject many years ago, so my memory of some of the pertinent facts may be a little hazy.
Ann: Appendix 3Y - G Rezos, page-4
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