Monday, February 15, 2010
Another Buyout
I was extremely heartened to see Yara (a Norwegian Fertilizer company) make a bid to buy long time MFI stock (disappeared in October) Terra Industries (Yara Agrees to Buy Terra Industries in $4.1 Billion Deal) this morning. I have always maintained that M&A is needed to keep MFI stocks on the rise. And an added bonus is that I own CF, which may get a boost in valuation if someone thinks TRA is worth $4.1b.
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I sold TRA three weeks ago because it hit my one year mark. BAH!
Also, I sold CF way back like 8 months ago at $69 after there were rumors that it was going to be bought out. Even though I had held it only a few months, I *thought* I had seen that stock movement before with MFI stocks, where they pop on rumors of a buyout, then drop down. So I sold it for a nice 45% gain and didn't look back. Of course, it's up over 100% and I would have had *that* gain but for my being too smart for my own good. I'm thinking that the whole selling early thing is just a dumb idea really...
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