market folly

Dmitry Balyasny's firm Balyasny Asset Management has filed a 13G with the SEC regarding shares of Walter Energy (WLT).  Per the filing, Balyasny now owns 5.22% of the company with 3,264,002 shares.

The filing was required due to activity on September 10th and this is a newly disclosed position for the hedge fund as they did not own any shares at the end of Q2.

This isn't the first time they've owned a stake either.  Balyasny previously owned WLT shares a little under a year ago.

Per Google Finance, Walter Energy is "a producer and exporter of metallurgical coals for the global steel industry. The Company also produces thermal coal and industrial coal, anthracite, metallurgical coke, coal bed methane gas (natural gas) and other related products. The Company operates in two segments: the Company's United States operations segment and its Canadian and United Kingdom operations segment. United States operations segment includes the operations of the Company's underground mines, surface mines, coke plant and natural gas operations located in Alabama and its underground and surface mining operations located in West Virginia. The Canadian and United Kingdom operations segment includes the operations of surface mines in Northeast British Columbia (Canada) and an underground mine and surface mine in South Wales (U.K.)."