Mimicry, from James Goldcamp
I find the concept of mimicry quite interesting, and I wonder if false signaling via insider purchases of stock are a good example of mimicry. Prospective investors then become aware purchases may be more signaling in nature (rather than economic) and thus turn their attention to the materiality of the purchase. In the commodities space I would speculate that there is a similar desire for manager to appear to be "short term" to their prospective investors (those who have positioned themselves as such have seen large inflows) to offer style diversification, with possible ramifications for investors in vehicles based on short term traders.