• Steve H. Hanke
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    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Some Perspectives On "Surging" Insider Buying

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Thu, 08/11/2011 - 13:56 | 1551505 achmachat
achmachat's picture

reading ZH right after listening to the CNBC heads: priceless

Thu, 08/11/2011 - 14:05 | 1551530 Hard1
Hard1's picture

Not just insiders trading.  The Hedge Fund strategy called "event-driven" makes no sense from a financial standpoint unless they have an informational advantage.

Thu, 08/11/2011 - 14:23 | 1551560 bigdumbnugly
bigdumbnugly's picture

the surging inside is just the precursor to the cornholing to come later.

Thu, 08/11/2011 - 14:29 | 1551584 TruthInSunshine
TruthInSunshine's picture

It's 2:29 and I guarantee that RoboTard BTFD yesterday, at the very close, or so he'll be along to tell us in the event this market closes green (or if some obscure equity, which he picks out from the crowd, does, in which case that will be TFD he bought).


Okay, it's 2:30. This is like watching baseball, where unless you are really bored, you only really want to watch the 9th inning.

Thu, 08/11/2011 - 14:34 | 1551598 SheepDog-One
SheepDog-One's picture

Too bad Robo also told us he was all-in back at DOW 12,700 for the big ride up when the debt ceiling passed.

Thu, 08/11/2011 - 14:38 | 1551614 JW n FL
JW n FL's picture

did you ever notice he always picks the winner after?

he never says I am Long this or short that ahead of time..

just after.

Give Reggie Credit! at least he gives out free info and backs it up! ahead of time!

Tyler to! gives us great info for FREE! ahead of time..

Robo comes in and makes shit up, after the close not before the open.

Thu, 08/11/2011 - 14:42 | 1551632 Stumpy
Stumpy's picture

Did Robo ever passed the turing test?

Thu, 08/11/2011 - 14:45 | 1551639 fuu
fuu's picture

He was saying something earlier about futures surpasing yesterday's highs. His new blood supply went straight to his head.

Thu, 08/11/2011 - 14:06 | 1551534 DaveyJones
DaveyJones's picture

like peeling the pages in 1984

Thu, 08/11/2011 - 16:47 | 1552058 mkkby
mkkby's picture

Excellent, ZH.  One of my "sleeping" friends sent me the CNBC story a few days ago as evidence the selloff was "just politics".  I knew it was BS, but had no data  to counter with... until now.

Thu, 08/11/2011 - 14:01 | 1551517 Strider52
Strider52's picture

Slightly OT: BofA "Online" banking is now OFFLINE.

Thu, 08/11/2011 - 14:21 | 1551557 Takingbets
Takingbets's picture

Bank Run????  Someone from that Bank has called my house everyday for about 2 weeks now. They won't even leave a message telling me who to call back or what they want. I have no accounts with them but they did buy my refinanced mortgaged from Countrywide. Has anyone else here been experiencing these phone calls from them?

Thu, 08/11/2011 - 14:25 | 1551570 TruthInSunshine
TruthInSunshine's picture

A little birdy told me that cash & cash equivalent withdrawals/redemptions are surging.

I would get more specific, but that's all the little birdy told me before flying away into the warm summer wind.

Thu, 08/11/2011 - 14:32 | 1551594 Takingbets
Takingbets's picture

Then their probably calling in the loan wanting payment in full!! Bahahaha!!!

Thu, 08/11/2011 - 14:48 | 1551650 snowball777
snowball777's picture

Could be an offer of a cramdown, if only you'll put some ink on this non-MERS piece of paper...

Thu, 08/11/2011 - 14:25 | 1551571 GotElevenToes
GotElevenToes's picture

I was able to log in.

Thu, 08/11/2011 - 14:41 | 1551627 JW n FL
JW n FL's picture

they are trying to start a bank run! and your truth is not helping their lie!


Bank RUN!! on B of A!!


Hurry! get your gold out of the Bank!! Oops! never mind! LOL

Thu, 08/11/2011 - 14:08 | 1551524 etrader
etrader's picture

The ES TA boxes are bouncing between two 78.6% on the 90min time frames.Normally the (TA) boxes programed to scale sell  the  upper ranges of 76.4 & 88.6 as a continuation entry.

Thu, 08/11/2011 - 14:03 | 1551525 Irish66
Irish66's picture

Can you start a TV program, please!

Thu, 08/11/2011 - 14:09 | 1551533 Cognitive Dissonance
Cognitive Dissonance's picture

Damit Tyler, why can't you leave CNBC's propaganda alone and just enjoy the unicorns and fairy tales?

Enough already. Why didn't I take the blue pill?


Thu, 08/11/2011 - 14:10 | 1551540 DaveyJones
DaveyJones's picture

perhaps Marcus Bachman can cure you from your fairies addiction  

Thu, 08/11/2011 - 14:22 | 1551559 11b40
11b40's picture

...only if they can get more government assistance for their clinic.

They really have not appreciated all tis new attention very much.

Sunshine is such a lovely dis-infectant.

Thu, 08/11/2011 - 14:20 | 1551556 Dr. Engali
Dr. Engali's picture

Damn that's a lot of blue pills. If your erection lasts for more than four years please see your physician (and maybe a few of his better looking nurses)

Thu, 08/11/2011 - 14:49 | 1551651 snowball777
snowball777's picture

Because you can already get it up?

Thu, 08/11/2011 - 18:03 | 1552321 Hephasteus
Hephasteus's picture

Because the blue pill gives everything you create birth defects.

Thu, 08/11/2011 - 14:17 | 1551535 Caviar Emptor
Caviar Emptor's picture

Yup. Corporate welfare was so rampant and free-wheeling during 2009-11 that major US corporations set all-time records for debt issuance: At a time when too much debt and over-leverage were the root cause of the cirisis!!!!

That and the record secondary stock issuance are the secret behind the "gobs of cash on the balance sheet" at the majors. 

ANd to make the stupendous stupidity complete, the best of it all: That cash is either just sitting and being used to build CEO golden parachutes and/or just being deployed to bolster overseas operations, further undercutting America's economic recovery. 

I consider this a total dereliction of the Fed's fiduciary responsibility to the US Treasury, US Taxpayers, US banks and US people. <----------------THis is how Ron Paul and others could, if they wanted to, break the back of the Federal Reserve with a Congressional investigation. If they don't do it, I doubt their sincerity. 

Thu, 08/11/2011 - 14:37 | 1551597 11b40
11b40's picture

Doubt?  For me, there is no doubt.  All these bozo's, including the "Paul's", have their schtick.  Ron Paul has been playing his for how many terms now?  They play it up to a point, then back off.  There is no intent to seriously challenge the status quo.  Criminals have been tightening their grip on Washington for at least 30 years, and now it is like a vise.

And before the Ron Paul lovers start bashing me, let me just say don't waste your time.  It would be better spent playing with the Obummer lovers in a game of mutual masterbation.  Both parties are corrupt; not a statesman among them.

Thu, 08/11/2011 - 14:38 | 1551619 Caviar Emptor
Caviar Emptor's picture

+10. Ron Paul all but stated in his campaign memo earlier this year that he won't abollish the Fed. Something about not being able to do it all. Yeah right. He might be able to shake them down for a quick profit, though. 

Thu, 08/11/2011 - 16:04 | 1551828 Oh regional Indian
Oh regional Indian's picture

At times like this, one can only wonder how many junks this little Ron Paul Diatribe would have bought.

The good old day.... or not.

Anyways, this surging insider buysing after a couple of years of insider selling, nice deal eh? Sell high, buy low, look good.

Patriots Buying the dip. Hah!

Coming Monday is the day though, I feel it.



Thu, 08/11/2011 - 14:07 | 1551536 fishface
fishface's picture

don' believe any statistic that you haven't forged yourself   ;-)

Thu, 08/11/2011 - 14:12 | 1551545 Cognitive Dissonance
Cognitive Dissonance's picture

The only way you know if a forgery is real is if you forged it yourself.


Thu, 08/11/2011 - 22:57 | 1553129 IQ 145
IQ 145's picture


Thu, 08/11/2011 - 14:11 | 1551541 bania
bania's picture

execs pressing F5, central bankers pressing CTRL+P, is running the global economy really just a few simple keystrokes?

Thu, 08/11/2011 - 14:17 | 1551550 Stumpy
Stumpy's picture

You're missing one keystroke that I'm not sure who'll actually push: CTRL-ALT-DEL

Thu, 08/11/2011 - 14:37 | 1551613 The Wolf
The Wolf's picture

all done with one hand too... mighty impressive...

Thu, 08/11/2011 - 14:42 | 1551628 Stumpy
Stumpy's picture

I'm sure they programmed the keystrokes to a single big red button for maximum dramatic effect.

Thu, 08/11/2011 - 14:42 | 1551630 Long-John-Silver
Long-John-Silver's picture


Thu, 08/11/2011 - 14:55 | 1551672 snowball777
snowball777's picture

Ctrl+P until the BSOD!

Thu, 08/11/2011 - 14:12 | 1551544 kito
kito's picture

its all irrelevant anyway. its never been a sure indicator, one way or the other. ONLY jim cramer and laszlo birinyi are sure indicators...oh yeah, and grandpa buffett. he says NO SIGNS OF A RECESSION!!!! NONE, NOT ONE!!!! poor warren, little does he realize that all the staple items his company owns are being bought in record number for purposes of STOCKING UP in preparation for exactly what he says wont happen.

Thu, 08/11/2011 - 14:42 | 1551609 slaughterer
slaughterer's picture

kito, have you noticed how Obama puppets some of Uncle Warren's words during teleprompter hour?  And how networks roll out Warren to prompt the bathrobe brigade to buy some more K and JNJ.

Thu, 08/11/2011 - 14:16 | 1551547 monopoly
monopoly's picture

Reading Zero Hedge....you don't need to listen to the idiot channel. Music works well during the trading day with a news feed.

Thu, 08/11/2011 - 14:16 | 1551549 Cursive
Cursive's picture

Most CEO's manage the stock price, not the company. Form over substance is all that matters in 2011.

Thu, 08/11/2011 - 14:23 | 1551551 RockyRacoon
RockyRacoon's picture

Who was the fella on CBNC extolling all the insider buying -- the most he'd seen since the invention of the steam engine?   Where do they dig up these people?   Some sombitch is lying!

Ah!  Here 'tis:

While panicked investors have recently fled markets in a scale not seen since the last financial crisis, corporate insiders are aggressively buying.

 “Insider buying has accelerated dramatically to its highest level since the market bottom of March 2009,” according to Ben Silverman, Director of Research at InsiderScore, a firm that tracks buying and selling activity for corporate insiders.

According to Silverman, insiders have purchased over $400 million in company shares since July 1, with most of that activity occurring in the last 2 weeks when markets began to nosedive (the S&P fell over 15 percent during that time).


Somebody smarter than I will have to parse this crap.


Here's the video:


Thu, 08/11/2011 - 14:18 | 1551552 dwdollar
dwdollar's picture

Again, the rally today looks clownish.  If Wall Street wants to sucker in retail investors, this is how not to do it.

Thu, 08/11/2011 - 14:22 | 1551558 Stumpy
Stumpy's picture

RIMM (and a lot of others) look pretty healthy today. Healthy like in adrenaline+crack healthy.

Thu, 08/11/2011 - 14:25 | 1551568 SheepDog-One
SheepDog-One's picture

400-600 daily swings only create more loathing.

Thu, 08/11/2011 - 14:28 | 1551575 etrader
etrader's picture

Its not really low level retail their bothered about.

Its fund  redemption notice day tomorrow for Q3 withdarw,They desperately need Dow + 11K & SPX close to 1200 to try and steem a the bleed .

Thu, 08/11/2011 - 14:32 | 1551593 SheepDog-One
SheepDog-One's picture

Sure they have to keep 'tricking' everyone...DOW 11,000 is 'OK', under that its panic. Well good luck to them, theyll need it. Stock markets are TINY compared to the bigger problem that no one cares to buy bonds anymore.

Thu, 08/11/2011 - 14:38 | 1551621 slaughterer
slaughterer's picture

Yup, gotta stick a finger in the dam.

Thu, 08/11/2011 - 14:28 | 1551561 Cult_of_Reason
Cult_of_Reason's picture

To be fair to CNBC, it is not only CNBC.

Here is from CNN:

Insiders Go on Buying Spree

Silverman said insiders have made 35 purchases worth more than $1 million so far this month. The largest is by Harold Simmons, chairman of Titanium Metals (TIE), who spent $8.2 million to buy 600,000 shares of the company on Monday.


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