Wednesday, July 01, 2015

I Held on to AOL Stock. Which Proves I'm an Idiot

I am stupid and I enjoy throwing away money. This is the only conclusion a reasonable person could make upon hearing what I'm about to post. (It's also the ultimate justification for the name of this blog).
Did you know that AOL was acquired by Verizon for $50 a share? I did. Did you know the deadline for accepting the share purchase offer was midnight Monday, June 22? I didn't. (Seriously, who would have thought? The deal closed in 42 days, making it the 11th-fastest acquisition deal over $1 billion this year.)

Apparently, I still owned some ESPP shares from way back that had been converted from AOL to TWX and back again. And by not responding to the letter in that funny-looking envelope, I missed out on the $50/share buyout offer.

That basically means that I now own shares in a company that no longer exists, and left a bunch of money on the table, because I didn't read my snail mail.

How much? In raw terms, it was... enough to cause flinching and moderate psychic pain. However, as they were ESPP shares, it means some of them were underwater, and the rest just represented years of blood, sweat, and tears. 

In the final accounting, I'll say it cost me more than a modern big-screen TV, and less than a moderately-priced used car. 

Call it a tangible reminder that stupid should hurt (or at least cost).

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