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Top Insider Trades 1/18/13: CVRR, CIE, AEGR, TY

|Includes:AEGR, CIE, CVR Refining, LP (CVRR), TY

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In a victory for common sense, the trading behavior of company executives, directors, and large shareholders in the stocks of firms they're registered "insiders" at have been proven profitable to monitor by both academic studies and (more importantly) the experience of professional investors.

Below are lists of the top 10 mainly open-market insider purchases and sales filed at the Securities and Exchange Commission Friday, January 18, 2013 as ranked by dollar value.

Please note, however, that these are factual lists (with edits to remove some noise), not buy and sell recommendations. Dollar value is only one metric to assess the importance of an insider transaction, and, frankly, often not even the most important metric that determines if an insider transaction is significant.

We should also point out that we are presently in a slow filing time for insiders because many companies still have their trading windows closed to their executives until their June quarter earnings are released.

But at, we find new investment ideas just about every day using these and more intricate insider screens to determine where we should focus our subsequent fundamental and technical analysis. And while stocks don't (or shouldn't) move up or down based on insider activity alone, insiders tend to be good indicators of when real stock-moving events like earnings surprises, corporate actions, and new products may be in the offing.

So use these regular blog posts as the initial research tools they are meant to be, and click the links in the tables to analyze a company's or insider's full insider history. Also feel free to email with any questions on our proprietary insider data, and how it is best analyzed.

Insider Purchases
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
Icahn Carl C DIR,BO CVR Refining CVRR JB* $100,000,000
Berkshire Hathaway BO Davita Healthcare DVA B $4,720,319
Perceptive Advisors BO Aegerion Pharm AEGR B $1,336,285
Intrieri Vincent J DIR CVR Refining CVRR JB* $500,000
King David L O Tri Continental TY B $252,682
Long Eric D DIR Usa Compression USAC JB* $225,000
Macau Carlos L VP,CFO,TR Heico HEIA B $100,757
Simmons Glenn R DIR Kronos Worldwide KRO B $95,875
Williams Tryon M CB,DIR,BO Bingo Com BNGOF JB*,B $72,188
Hannon Gregory P DIR Kingsway Finl KFS B $52,240

Source: | Key to Insider Title and Trans Type Codes

Insider Sales
Filer Name Insider Titles Company Name Ticker Trans
Dollar Value
First Reserve Gp Xi BO Cobalt Intl Energy CIE JS* $250,000,000
Craig John D CB,PR,CEO Enersys ENS AS $5,041,850
Hagedorn James BO Scotts Miracle Gro SMG S $2,212,014
Kellogg WK Fdn Tr BO Kellogg K AS $1,644,795
Yergin Daniel VCB IHS IHS AS $1,331,130
Talwar Vikram CB,DIR Exlservice EXLS AS $1,138,730
Zames Matthew E COO JPMorgan Chase JPM S $1,100,633
Luther Jon L DIR Dunkin Brands DNKN AS $835,920
Cornelius James M DIR Bristol Myers BMY AS $686,600
Yeager Mark A VCB,PR,COO Hub HUBG AS $514,955

Source: | Key to Insider Title and Trans Type Codes