2024-07-03 10:00:00 ET
Summary
- CVS Health's share price growth, along with investor optimism, peaked sometime in mid 2015.
- Thereafter, investor enthusiasm gradually began to wane and criticism of management's capital allocation surfaced.
- We succumbed to the belief that overpriced acquisitions were a thing of the past.
- We underestimated the negative impact of the human factor on the value of the company, and this is a very important lesson for the future.
The following segment was excerpted from this fund letter .
CVS Health ( CVS )
We sold CVS Health.
CVS used to be a very popular stock in the markets. The share price growth, along with investor optimism, peaked sometime in mid 2015. Thereafter, investor enthusiasm gradually began to wane and criticism of management's capital allocation surfaced....
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For further details see:
Vltava Fund - CVS Health Corp.: Why We Sold CVS