I think I just view mu investment differently to a lot of people...

I think I just view mu investment differently to a lot of people I see posting on HotCopper and Sharetrader.

I see my investment for what it is - ownership of a portion of a business. Not 'a stock' that I am praying to God if I buy it today for one price I can sell it for more than I paid next month or next quarter.

When looked at as a business, Sky is actually very well positioned to increase earnings over time.

A takeover could happen - but it's not something I am thinking about much or hoping for. One would be excused for thinking that at the current low quoted value of the shares a takeover would have happened by now if it was in the pipeline.

Having said that, IFT have raised half a billion dollars recently and have not used the money yet - and Ogg presents a compelling case for why a company like IFT might buy Sky to merge with Vodafone.

The 'story' for Sky is, broadly speaking, playing out in line with my thinking when I first took an ownership stake in the business. Time will tell how this ultimately plays out, and I am a very patient man. So long as my business is performing in line with my expectations, Martin and the team will find no quarrel with me.