Recommendation: Sell Verizon (VZ) Green & Gold Fund

Rationale for Sale Any of the following may be reasons to sell: Company is overvalued, better opportunity in XYZ stock Fundamentals have been negatively impacted by recent event Legal/competitive environment shifting against company Business model breaking Key C-level management has left company, seem to be lacking strategic vision, or lack ability to execute Company’s struggles (e.g., execution) are company- specific, not a result of the industry Turnaround doesn’t seem likely

Give a BRIEF, one-sentence description of the company Re-state original one-sentence investment thesis Explain rationale for sale The rationale for sale to should explain why recent company events point to downside in the shares (is not currently priced in) Should be a long-term negation of the original investment thesis (not a short-term blip in the company’s growth trajectory) Sell rationale should reference an unfavorable risk/reward on the long side