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Here’s a sign that investors may be too pessimistic about brick-and-mortar retailers

Listen to the typical talking head these days, and you might think that brick-and-mortar retailers are all going to get killed off by Amazon.com.

Insiders at these traditional retailers, however, beg to differ.

At a time when insider buying is light in this full-priced stock market, I’ve noticed millions of dollars worth of buying by executives at over a half-dozen traditional retailers during the past several weeks.

What’s more, these retail insiders have a downright “in-your-face” attitude toward Amazon founder Jeff Bezos and investors buying in to the Amazon AMZN, +0.82% mania.

That’s because the most significant insider buying has happened at exactly the kinds of retailers Amazon is supposed to annihilate — including department store giant Macy’s M, +3.09% discounter Dollar Tree DLTR, +1.10% and apparel brand Lululemon LULU, -0.12%

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