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5 of 6 people found the following review helpful
on July 8, 2013
Investors require foresight to make money, not hindsight. The principles in Moreland's book although written many years ago, are still valid today, even though as he predicted, everything is quicker and cheaper on the internet.

The basic idea is that the people who have the most knowledge of the inner workings and future prospects of a company know when and at what price to buy. Insiders supply the market with high-quality investment information every time they trade their own company's shares in the open market.

It was envisioned by Congress that the reported trades by insiders would provide investors with useful information on which to base investment decisions by giving them an idea of the purchases and sales by insiders which may in turn indicate their private opinion as to the prospects of the company.

Shares are registered in the insider's name and they are not allowed to buy and sell these shares again within a six-month time period to prevent short term trading

Not only for looking for new purchases, but insider data is also invaluable for following stocks you already own. Most insiders have information in their heads that is nonpublic and buy because the stock is considered undervalued in light of impending corporate developments.

Seeing a sales report, discussing new product strategies in meetings, talking in the halls with someone on the research and development team all of these bits of information allow insiders to form an opinion of how prospects look for their company.

More to the point is that insiders can hardly clear their minds of all they know about their company when they are on the phone with their stockbroker.

Using insider trades requires checking out the insider's history of transactions to see if the insider you're looking at has been right in the past. Purchases are easier to interpret than sales, because there is just one reason executives buy shares in their company in the open market: They think the price will go up.

You just combine the insider data with the appropriate fundamental and price action criteria for your personal investment style before you act. Technical analysis merely gives a nod to the influence of the supply and demand of a company's stock on its short-term price movements.

Insiders tend to be early, so try not to pay much more than Insider did. Price trends affect insider analysis. Averaging up by insiders is an excellent indication that whatever prospects have propelled a stock in the past may continue.

Transactions by insiders with duties at the company are more significant than transactions by insiders with no duties.

Direct purchases are more important than exercised options reports. It would be an extremely rare and bullish sign if insiders weren't exercising options after the stock made a major rise.

You should not blindly buy a stock only because insiders do, and you certainly shouldn't bail out only because you see a lot of insiders selling.

If a stock has tanked and you think it has finally bottomed out, a lack of insider buying may be telling you there is still some downside.

The one major flag for identifying stocks to avoid and possibly sell short is insiders selling after their company's shares have already declined markedly. This is not at all normal.

If you are going to use an insider newsletter, choose it by virtue of the value-added features and research it delivers, because the raw data is easy for you to get free on the web.

Mostly using insider information is common sense.

Initial purchases by new insiders are less important than purchases by long-term insiders.

Transactions of direct holdings are usually more significant than transactions of indirect holdings.

Buying is more heavily weighted than selling.

Open-market trades are more significant.

Recent trades are weighted more heavily than older trades.

Larger trades are more significant.

A stock trading close to where insiders got in adds significance.

Dragons and Bulls: Profitable Investment Strategies for Trading Stocks and Commodities
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4 of 5 people found the following review helpful
on January 28, 2011
Like many other insider tracking/monitoring books in this category, the author discusses the ins and outs of following Form 4 filings. Yet, he does it in a way that lets/makes you think about what's being discussed.

I've recently completed another book in this category, and the author wrote more prose - it read more like a novel as he gave short stories and analogies of his own experiences. That was a very different writing style - very easy/light reading. I prefer the authors approach in this book better because it stays very focused on the topic and doesn't wander off.

The author also touches on other SEC filings as well, but just scratching the surface leaving the door open to go investigate more on your own if you're really interested. Again, very well done.

Because it is slow reading, requiring time to digest everything, I'm actually only about 3/4 the way through it. However, even completing just that much I have a very good take on the book, the material, and the author's presentation style.

If you have a more technical/scientific background (like myself), this is a good book for you as the material presented is very cut and dry - primarily just getting straight to the point of the topics being discussed and not a lot of filler.
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on April 15, 2015
interesting info.
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2 of 5 people found the following review helpful
on June 18, 2006
This book is a must if you want to get a jump on insider trades and profit from it.

There is also a real time [...]insider trading site that display all insider transactions in real time
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