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Oct. 7 (Bloomberg) -- Bloomberg's Joshua Gallu talks about a U.S. Securities and Exchange Commission insider-trading investigation into Alaska Air Group Inc. Chief Executive Officer William Ayer, hedge fund Donald Smith & Co. and well-timed bets on shares of Washington state's biggest energy utility. The SEC is investigating whether the New York-based hedge fund acted on confidential information in 2008 when it doubled its stake in Puget Energy Inc. just before state officials approved a $3.89 billion buyout that sent the utility’s shares up by as much as 21 percent, according to two people with knowledge of the matter. Gallu speaks with Carol Massar and Matt Miller on Bloomberg Television's "Street Smart." (Source: Bloomberg)