There is a perception many have that the market is rigged in favor of corporate insiders. And there is certainly justification for that perception. In this episode we take an in depth look at the issue with Wharton professor and insider trading expert Daniel Taylor. We start with the basics, including how insider trading is defined and the laws that govern it. Then we dig deep into his research and what it tells us about the behavior of insiders and whether they have an unfair advantage. 
We hope you enjoy the discussion. 
ABOUT THE PODCAST
Excess Returns is an investing podcast hosted by Jack Forehand (@practicalquant) and Justin Carbonneau (@jjcarbonneau), partners at Validea. Justin and Jack discuss a wide range of investing topics including factor investing, value investing, momentum investing, multi-factor investing, trend following, market valuation and more with the goal of helping those who watch and listen become better long term investors.
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