I always figured MSFT would walk away with YHOO, but after a month or so, I sold 87.5% and blogged about it here, explaining why.
Then this month I sold another 7.5% of my initial holding.
Right now I own 5% of my once-6-digit-holdings in YHOO, always thinking I would kick myself for having sold any shares.
Hmm… I am not kicking myself right now.
I never understood what drove me to make that decision, because while my head said “done deal” my gut said otherwise.
Two years ago I was on the verge of losing Mojo Supreme, I would not have torched the building, but I found a way to avoid losing. Something told me Jerry would go much farther to not lose this fight.
Jerry went all out, he torched the joint and all that remains is Black Monday’s soot and smoke.
That is unfortunate, but it shows how investing in the stock market is actually not how average Joe’s can balance out wealth in America. Investing in public companies is the impotent man’s way of creating wealth, I now realize.
It’s somewhat hypocritical that in Yahoo!’s official response to MSFT pulling the bid, Yang ranked “shareholders, employees, users, partners” in that order, because frankly shareholders were considered the least in all of this.
Yang could care less about the Average Joe investor, that much is clear, but if he thought MSFT was a touch stakeholder to manage, just wait until Black Monday.
Disclaimer: I still have 5% of my initial holding long.
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