I was about to build a large position in Vodafone on the basis of the Verizon Wireless takeout. Thankfully i managed to get out before this disaster occurred.
We all make mistakes. The reason I was willing to go heavily long Vodafone was that I believed the Vodafone board would have learnt from their prior decade of poor acquisitions. It seems that I was mistaken. Reminds me of Warren Buffett: "Always try to invest in a company that a monkey could run and still reward shareholders because eventually a monkey will run it."
We all make mistakes. The reason I was willing to go heavily long Vodafone was that I believed the Vodafone board would have learnt from their prior decade of poor acquisitions. It seems that I was mistaken. Reminds me of Warren Buffett: "Always try to invest in a company that a monkey could run and still reward shareholders because eventually a monkey will run it."
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