I wasn't shouting insider trading, actually saying it could be a legitimate "insider" purchase.
I do object to insider trading when (1) the assumption between parties is that you are acting in a fair and transparent manner and (2) one party using asymmetric information (that should not exist) to profit from the second.
Good insider trading, "home depot is my client, so I know them intimately. Their sales have sky-rocketed (public info); I'm going to go buy real estate since it is a leading indicator of demand"
Bad insider trading, "My company promises to release sales information on every Friday to the public. Thus, the public trades with the knowledge and agreement with me that I share sales information on Fridays. I know I have GREAT sales this week, so I buy stock on Thursday before releasing good numbers on Friday." Even without regulations, the market should "punish" companies that do that (price in increased risk into the value of a share), but we also have regulations to enforce that punishment since and efficient market works best when there is symmetric information.