Deals can fall through for any number of reasons. And in this case, a failure would mean that we are back to where we started —looking at 40% share dilution. Commonwealth has become a coin-flip investment with very unappealing odds. Heads, you win a little. Tails, you might lose 40% or more. This isn’t investing; it’s gambling. And with terrible, risk-seeking odds. As a result, I sold Commonwealth in my Covestor portfolio.The investments discussed are held in client accounts as of February 28, 2013. These investments may or may not be currently held in client accounts. The reader should not assume that any investments identified were or will be profitable or that any investment recommendations or investment decisions we make in the future will be profitable.
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