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Thanks, that's useful. By "public sources" do you mean "anywhere that's not an insider-as-currently-defined-by-law", rather than literally public? This is impor

Thanks, that's useful. By "public sources" do you mean "anywhere that's not an insider-as-currently-defined-by-law", rather than literally public? This is important because incentivizing the making public of non-public(-but-not-insider-obtained) info is a crucial job of markets. I'd be interested in a link to further reading if you can recommend one.

DennisP 7y ago
I don't have a source handy but yes, that's my understanding. An example I saw in one article was a hedge fund that bought satellite imagery, and counted cars in parking lots to estimate how well a business was doing. That's fine, because it wasn't information that came from an insider.