Tag Archives | uncertainty

CII: Richard Bookstaber – Dynamic Risk Models

Richard Bookstaber: Human Complexity and the Financial Markets

Richard Bookstaber discusses value at risk modeling — easily the most illuminating talk at #CIIFall2017. It was certainly statistics aimed at the layperson. However, in listening to him, I was glad I completed by PhD comprehensive in statistics 35 years ago.  I scribbled a few notes. Although I can’t guarantee accuracy, if I motivate a few fund managers to read his The End of Theory: Financial Crises, the Failure of Economics, and the Sweep of Human Interaction I will be delighted. Continue Reading →

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Appeal of No-Action on Proxy Access at Whole Foods Markets (WFM)

Whole Foods Market (WFM)The no-action letter to Whole Foods Market (Whole Foods), sanctioning exclusion of  my proxy access proposal is based on a reinterpretation of Rule 14a-8(i)(9) without going through the rulemaking process. Letting Whole Foods substitute a sham proxy access proposal could negatively impact dozens of  proposals submitted this year on proxy access and other topics.

Seal of SECThe case is similar to AFSCME vs AIG, where the SEC also reinterpreted an existing rule without going through the rulemaking process. When rules are changed, the public has a right to notice and input. Yesterday, I filed an appeal to the full Commission. The body of that appeal is posted below so that others can benefit from and supplement these arguments in future cases. Download the full appeal as a pdf (McRitchieAppealNo-action12-23-2014). Continue Reading →

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