While stocks continue to trade downward, insider sentiment remains generally benign. Indeed, the overall Insider Index from Vickers Stock Research is resting at its most-attractive level since November 2020. Broadly speaking, insiders have maintained a sense of calm during the selloff, with data from Vickers suggesting no panic. Still, despite the unthreatening sentiment and the reduction in stock multiples, there is also no evidence that insiders have started to 'buy the bottom.' We'll watch carefully for any signs that insiders are ready to jump in -- but also note that many of these investors are currently sidelined by trading restrictions that are in place during earnings season.