We've seen a lot of insider purchases lately, including big ones from Bank of America (BAC) - Get Bank of America Corp ReportCEO Kenneth Lewis and other BofA insiders as well as from JPMorgan (JPM) - Get JPMorgan Chase & Co. ReportCEO Jamie Dimon.
Jim Cramer liked the buys
, though he said that what the banks really need "to make the bears stop growling" is more capital.
At Stockpickr, we track the
for investors interested in piggybacking these moves.
The perfect setup is threefold: insiders buying the stock, the company buying back its own shares and a super investor such as
also making a bullish bet on the stock.
If we can get three out of three, we're in heaven. If we can get two out of three, or even one out of three, we're still pretty happy about the situation, particularly if the stock is cheap in other ways as well.
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