Selling Some DirecTV Group

I sold some more of my DirecTV Group shares (DTV) today, at $31 and change. These were the DTV shares I received when the company merged with one of the Liberty Media tracking stocks I held.

I still hold enough DTV to make it a normal full-sized position in the portfolio, but not the over-sized holding it had been. And, not to be too confusing, my original DTV stake had doubled in price and I sold half of it fairly recently.

My view is that DTV remains a potential takeover candidate, and that's entirely apart from the fact I like John Malone being in control of the company. Yet I think it's prudent to take some chips off the table, book some gains, and have enough cash to establish a new position, if the opportunity pops up.