Snapshots of Following Insiders to Outperform the Market

Quickly apply original, key PMR-published papers with Snapshots—a short article companion that distills PMR research into compressed, digestible takeaways, so you can put the paper’s core ideas to work in your investment process—fast. This Snapshot article is based on research arguing that a rules-based strategy using selected insider purchases outperformed the S&P 500 across 11 of 14 tested metrics in backtests from 2011 to 2023, including both in-sample and out-of-sample periods.