That's absolutely right! With a minor caveat that there has been some prosecution of non-insiders who are tipped by insiders, but that has been eroded by recent

That's absolutely right! With a minor caveat that there has been some prosecution of non-insiders who are tipped by insiders, but that has been eroded by recent cases much to the SEC's annoyance. I would also take issue with Altucher's statement that you're not allowed "to make money on" insider info. Insider trading liability is about trading on the info, whether or not you make money, or even lose money, on a particular trade. It's just a lot easier to catch people who make money at it.