Typically, if there's no exchange of value from the person with insider knowledge to the person making a trade, it's not insider trading. Generally speaking, I

Typically, if there's no exchange of value from the person with insider knowledge to the person making a trade, it's not insider trading. Generally speaking, I can go golf with my CEO buddy and he can mention what's going to happen in the next quarterly report without me ending up in jail. Matt Levine was in the banking industry and now frequently writes about insider trading. One might question journalistic integrity and incentives, but there is some good that can come from this sort of reporting. It helps in price discovery. In the below link, someone does additional research and short sells companies he believes are fraudulently reporting numbers to great success. Having insider information doesn't necessarily mean it's insider trading. https://www.washingtonpost.com/business/gaining-by-betting-against-flimsy-chinese-firms/2011/08/20/gIQAe4KFgJ_story.html?utm_term=.cf926555b5a5 https://www.washingtonpost.com/business/gaining-by-betting-a...