But the Internet, the SEC's "Edgar" system for filing various financial forms electronically and the passage of Section 403 of The Sarbanes-Oxley Act back on July 30, 2002, have finally made those data available to anyone. It's still worth paying a bit of money to a service to get the raw insider data organized well to save you time, but the cost has come way down. This data flow was already profitable to follow with the old 10- to 40-day time lag, but with the filing deadline for Form 4s now just two days, it's even more so.
But using the data is much more involved than just blindly mimicking the trades of a company's chairman. Some insider signals and patterns are important, while others are just time-wasting noise. It takes time and experience to analyze the streaming mass of insider data and make money with it. That's why I've teamed up with TheStreet.com to provide a weekly newsletter that cuts through the noise and puts this important data stream to work for you. It's called TheStreet.com InsiderInsights! Every issue of the newsletter identifies the most important insider trades from the past week and serves them up in numerous, easily digestible tables. Basically, I slice and dice the data and personally review the insider profiles of hundreds of companies a month to generate actionable investment information for you. Every month, I also address the needs of investors with more specific needs. My Special Screens combine insider data with various fundamental and price-action criteria to find the most promising insider-approved income, momentum, growth, and value investments -- as well as stocks to avoid or sell short.


