Herein, we propose a simple greedy algorithm (SINCO) for solving this optimization problem. SINCO solves the primal problem (unlike its predecessors such as COVSEL [10] and glasso [4]), using coordinate ascent, in a greedy manner, thus naturally preserving the sparsity of the solution. As demonstrated by our empirical results, SINCO has better capability in reducing the false-positive error rate (while maintaining similar true positive rate when networks are sufficiently sparse) than glasso [4], because of its greedy incremental nature.