Long ago I purchased a buttload (a relative term) of shares of Marvel Entertainment (
MVL - formerly Marvel Enterprises and several other company name iterations). Cost basis is just over $5 per share. I bought these shares almost entirely in 1999 and 2000, and slightly more in 2002 and 2005. This past Thursday, December 31, 2009, my fellow Marvel shareholders and I voted to allow The Walt Disney Company (
DIS) to
purchase our entire company for both cash and stock. Each Marvel share will fetch $30 in cash plus .745 Disney shares. At Disney's closing price of $32.25 on Thursday, this means that each of my Marvel shares is worth
($32.25 x .745) + $30 = $54.03
My MVL cost basis is $5.30 per share. So my return on that investment is
$54.03 / $5.30 = 10.19 or 1019%.
Not bad ...
I screwed up a bit with the recent AMZN options, but I have made some very profitable bets on other deep-in-the-money calls, and this one is a once-in-a-lifetime bonanza! So it's not all bad ...
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