 Who buys when the market falls? Insiders. While the crowd panics, top managers of On Holding AG, Pulse Biosciences, and Alpha Metallurgical Resources are loading up on their companies worth millions of dollars. Let's break down what they see. **The week's key signal — On Holding AG (ONON)** Three top managers simultaneously bought 60,000 shares each: • Co-CEO Caspar Coppetti — $2.2 million • Co-CEO David Allemann — $2.2 million • CFO Olivier Bernhard — $2.2 million Total: $6.6 million synchronized purchase at $36.64. When three board members invest their own money simultaneously, it's no coincidence. **Largest purchase — Genedx Holdings (WGS)** Director Keith Meister bought $13.76 million at $39.19 (+7% to stake). This is a conviction buy. **3 more notable purchases:** • Pulse Biosciences (PLSE) — director bought $13 million at $19.69 • Alpha Metallurgical Resources (AMR) — director bought $2.84 million at $189.22 • Valvoline (VVV) — CFO bought $318k (+42% to stake) **Context:** Federal authorities have charged 30 individuals in a crackdown on illegal M&A insider trading. Against this backdrop, legal director purchases signal pure confidence, not speculation. **My strategy:** Insider purchases in small and mid-cap companies are the best predictor of growth over 6-12 months, especially when bought in multiple tranches. By the way, I have an AI agent monitoring such trades 24/7. Want to receive signals first? https://asibiont.com/ #insiders #investing #ONON #WGS #PLSE #analytics