MAKO just got bought out at a 80% premium. That company sucks, yet they still caught a bid.
Heading into the final months of the year, expect mergers and acquisitions to pick up some steam and special dividends be distributed. Naturally, share buybacks will be demanded by well to do activist shareholders and the average investor richly rewarded for being patient.
American balance sheets have never been better, so keep that in mind the next time you get wild eyed and try to become a hero shorting stocks that you deem to be “bad” or overvalued. The net result will be similar to what the bozo short sellers at MAKO are seeing this morning: account balances of zero.
http://www.youtube.com/watch?v=aJ7eJm5bZ5Y
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