I happened to be watching CNBC when it happened: Boone Pickens, the many best known for his winning bets in oil and gas (and more recently wind power) has follows Mr. Carl Icahn into Yahoo! with a similarly 10 million-share bet (about $275 million). Of course, with investors on the sidelines waiting to see what happens next, many have read into Mr. Pickens purchase in the hopes of gaining an insight into what insiders might know.
When asked, during his interview, how he felt about the Microsoft-Yahoo! saga, unfortunately, Mr. Pickens revealed that his only reason for investing was Mr. Icahn's interest in it and "that's enough" for him. So, should that be enough for the rest of us as well?
Carl Icahn does have approximately 50 million options on Yahoo! in addition to his shares so there's no question about his commitment to this deal and his expectations of how it will ultimately conclude. Are we indecisive investors waiting for some additional confirmation going to regret not following Mr. Pickens' trust in Mr. Icahn's ability to get the deal done?
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