Exiting DirecTV Group

I sold my remaining stake in The DirecTV Group (DTV) today. I got out at $36.70.

I first bought DTV in 2005 at $15.50, and sold half the position when the stock doubled in price. It has been a free ride since and the remaining shares accounted for more than 5% of the portfolio. I like the company, I like it being controlled by John Malone (and before that by the Murdoch people), but think it doesn't have much more to run -- though I'm sure I will be proved wrong and will look back one day and see that I've sold too soon.

I am currently using the proceeds to build a position in another company, in another industry. When the position is completed I'll name the company and give my reasons for buying.