For years, AOL (NYSE:AOL) has been synonymous with the destruction of shareholder value. Its status as perhaps the worst merger in corporate history (based on the amount of write-downs taken) has served to overshadow the company's standalone qualities. And while many investors have written off AOL completely, those who did not enjoyed gains of almost 100% in 2012. And while 2014 is unlikely to deliver such gains once again, we believe that investors who make an investment in AOL are likely to see decent gains. With AOL shares up less than 30% since the company was spun off from Time Warner (NYSE:TWX), we feel that there is ample upside in the months and years to come....
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