Monday, 20 October 2014
Last updated 5 hours ago
Oct 8 2010 | 11:15am ET
The Securities and Exchange Commission is looking into whether the CEO of Alaska Air Group passed inside information on to hedge fund Donald Smith & Co.
According to Bloomberg News, the SEC believes William Ayer may have provided non-public information about Washington utility Puget Energy's 2008 buyout, and that Donald Smith may have used that information to double its stake before the announcement. Ayer, who is now Puget's chairman, served on its board at the time, when Donald Smith was Alaska Air's largest investor.
Both Ayer and the hedge fund deny any wrongdoing.
"We categorically state that at no time did we have any communication with Mr. William Ayer regarding Puget energy," Donald Smith said, saying it boosted its Puget stake "only after the stock collapsed to a valuation level that we considered attractive based on our in-depth research."
Ayer, in his own statement, said he "never provided any material non-public information about Puget Energy to Donald Smith & Co., or anyone else."
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...