Questions
Where does the data come from?
Public regulators. In the United States, Form 4 filings published by the SEC as soon as they are received. In Europe, managers' transaction notifications filed under the Market Abuse Regulation, starting with Sweden's Finansinspektionen.
How fast is it?
A filing appears within minutes of reaching the regulator. The transaction itself is older: US insiders have two business days to file, Swedish managers three. That delay is set by law, so no tracker can be faster.
Why only purchases?
Only open-market purchases carry information. Grants, option exercises and tax withholding are compensation mechanics, and sales happen for a hundred personal reasons. Noximus keeps SEC transaction code P and its European equivalent, and drops the rest.
What makes one purchase more interesting than another?
Three things an absolute dollar amount cannot tell you. How much the buyer increased their own existing stake. Whether other insiders bought the same company in the same window. Whether the trade was decided in advance under a scheduled plan, in which case a calendar made it rather than a view.
Can I see whether an insider has been right before?
Yes. Every buy is measured from the first close after publication, over several horizons, against a market index. Track records are ranked by median excess return so one lucky position cannot carry a reputation.
Is this investment advice?
No. Noximus republishes public regulatory disclosures and measures what happened afterwards. An insider buying their own company can be confident, contractually obliged, or simply wrong.
