William Tomljanovic

William Tomljanovic discloses dealings in ACA Capital Holdings Inc to SEC (Form 4). Over a trading history stretching from 15 November 2006 to 17 October 2007, the count stands at 15 filings.

In open-market terms, that means 2 purchases worth €27k on one side and 11 sales worth €180k on the other. Netting one side against the other leaves €153k of net selling. Buying on the open market means paying the going price with one's own funds, a different act from receiving shares as pay. Other entries cover 1 option exercise. In 2007 alone, the filings show 2 purchases and 11 sales.

The latest filing, published on 18 October 2007, reports an open-market sale of €38k in ACA Capital Holdings Inc. The last purchase on record was published on 3 October 2007, which is 6,960 days ago. Between a trade and the moment it shows up on SEC (Form 4), the median delay is 2 days. For comparison, the SEC allows two business days to file a Form 4. Selling is not necessarily a view on the stock: liquidity needs and diversification are common motives. Source: insider filings from SEC (Form 4). Past trades are no guide to future returns.