I have just DOOMED Sirius Satellite Radio

[Devastation]

Seriously, I would have waited a bit before buying SIRI. The huge spike is due to the Mel announcement, but I expect we will see a large correction before it levels off for the long haul to Stern going live on sat radio. I'm probably going to buy some in the near future, but we still have over a year until Stern changes over, this is all on hype right now.

I'm not saying you will lose if you are long, but I always like to get the best price possible, and it is oversold right now.

you mean overbought i think

 

[Devastation]

Wasn't it just a little over a dollar when Stern signed? I bet Karmizen (sp) signing took the stock up too.

i think it was around $2.50 or so. somewhere in that ballpark

 

[bran987]

i think it was around $2.50 or so. somewhere in that ballpark

yep, it was almost $3

I have been waiting for a pullback for the last 2 weeks and it hasn't happened. If it had gone to $8 or 9 then I would've been really upset. My brother bought at $3.12 in March I'm proud of him. If it drops back down to $5 so be it. Have to take some risk in life.

I'm long term, and I didn't bet the farm on this or anything. I don't have more than 1% of my net worth in any one stock (except for Vanguard REIT).

Hopefully I can get a couple hundred percent out of it in the next 5 years

Thanks for the well wishes Dev

 

[Forge]

yep, it was almost $3

I have been waiting for a pullback for the last 2 weeks and it hasn't happened. If it had gone to $8 or 9 then I would've been really upset. My brother bought at $3.12 in March I'm proud of him. If it drops back down to $5 so be it. Have to take some risk in life.

I'm long term, and I didn't bet the farm on this or anything. I don't have more than 1% of my net worth in any one stock (except for Vanguard REIT).

Hopefully I can get a couple hundred percent out of it in the next 5 years

Thanks for the well wishes Dev

Ah, you think like I do. I have a few friends that put money after money into one stock that they like, and no matter how much I tell them to diversify they won't do it. That's just too much risk for me to accept. I wish I had gotten into Sirius at $3.12, a year from now I'll probably wish I had gotten in at $6.50 where it is now.

And yeah, I meant overbought. It's over-something...

 

[Devastation]

this goes against the grain of common investing principles, but i invest with more peace of mind on two sometimes three stocks than i ever would with ten or twenty. how much research and time would i have to spend getting to intimently know each and everyone of those companies? 8 to 10x more time than i do now with the two or three i currently own. and as far as gambling goes concerning "betting the farm" on just a couple of stocks, think of it like this:

if you could go into a casino and step up to the roullette wheel, how could you almost gaurantee what number or color you pick will be the one that comes up? if you only pick a number, your odds are fewer but the payoff better (risk). if you pick a color, you have almost a 50% chance of winning, but with less payout (doubling is not bad tho). picking a stock is very similar, the more homework you do and the better the financial stability and near & long term growth looks, the better the chances the stock will go up. but back to the roullette wheel. what if you went up to place a bet, but now instead of half the numbers being red or black, say 90% of the wheel is black. would you feel much safer betting on black now? investing is like that. for every bit of research you do that turns up positive on that one stock, you have just increased the number of black spots on the wheel and your odds of return vs. loss are turning in your favor. picking a stock due to past performance and not realistically evaluating it's future performance is like betting on red when it has come up the last 5 times in a row. way too risky. what if you buy a stock because magillicuti or anybody said so? it's like putting your money on green 00. the odds are against you because you know nothing about the company, what they do, and how management responds to it's business environment. and as far as diversity goes, that's like the guy putting small bets around the table. he thinks he's being sensible and safe, but in the end he just lasted longer at the table then the fool who bet his wad on green 0 and lost. the name of the game is to stay ahead of the house (the market). i strongly believe with the necessary research, less diversification will win out over betting on the entire market every time. it's not for everyone but i've made over 50% in the past year with this strategy and handed the market it's ass, instead of vice versa

 

[manny78]

Purchased at $6.67 per share this morning, the stock will now proceed to go down in flames, burning bodies everywhere screaming bloody murder, gasping for air, clutching their radios as the plastic melts on their skin.

2 weeks, when I got my eyes on this share, it was 3.92$......

 

[manny78]

Seriously, it's time to sell for those who bought it 2-3 weeks ago. There's a big hype for no reason around Sirius and XMSR. Things will stabilize for a year. Once it hits rock bottom again, it will be time to buy some, wait a year or two and make another $$$ again.

 

[wutangnomo]

this goes against the grain of common investing principles, but i invest with more peace of mind on two sometimes three stocks than i ever would with ten or twenty. how much research and time would i have to spend getting to intimently know each and everyone of those companies? 8 to 10x more time than i do now with the two or three i currently own. and as far as gambling goes concerning "betting the farm" on just a couple of stocks, think of it like this:

if you could go into a casino and step up to the roullette wheel, how could you almost gaurantee what number or color you pick will be the one that comes up? if you only pick a number, your odds are fewer but the payoff better (risk). if you pick a color, you have almost a 50% chance of winning, but with less payout (doubling is not bad tho). picking a stock is very similar, the more homework you do and the better the financial stability and near & long term growth looks, the better the chances the stock will go up. but back to the roullette wheel. what if you went up to place a bet, but now instead of half the numbers being red or black, say 90% of the wheel is black. would you feel much safer betting on black now? investing is like that. for every bit of research you do that turns up positive on that one stock, you have just increased the number of black spots on the wheel and your odds of return vs. loss are turning in your favor. picking a stock due to past performance and not realistically evaluating it's future performance is like betting on red when it has come up the last 5 times in a row. way too risky. what if you buy a stock because magillicuti or anybody said so? it's like putting your money on green 00. the odds are against you because you know nothing about the company, what they do, and how management responds to it's business environment. and as far as diversity goes, that's like the guy putting small bets around the table. he thinks he's being sensible and safe, but in the end he just lasted longer at the table then the fool who bet his wad on green 0 and lost. the name of the game is to stay ahead of the house (the market). i strongly believe with the necessary research, less diversification will win out over betting on the entire market every time. it's not for everyone but i've made over 50% in the past year with this strategy and handed the market it's ass, instead of vice versa

Good post Devestation! I completely agree.

When people say it's best to diversify I don't really agree with that. They'll then bring up a story about how they know some fool who invested all his eggs into one or two baskets. The point though is, stupid people will ALWAYS lose regardless of what investment strategy they utilize ... whether that be diversification or investing in a limited number of stocks.

The biggest mistake people make is investing in stocks they know nothing about. You have to know about the company and industry/field/sector you are investing. Doesn't matter if you end up with 2-3 stocks or 20-30 stocks, you'll be okay because you are familiar with that territory and company.

 

[Razorguns]

Is Sirius the one that threw all their last remaining cash reserves at Howard Stern in a last ditch sad tragic attempt to entice more customers to their dismal embarassing repository of paying customers?

Their technology is already antiquated. The internet is here and people want to hear internet radio in their cars. stream music on demand. get local weather reports. local news. hear local happenings. pull up maps, etc. etc. Hearing 200 channels of which 170 of them are of no interest to me -- isn't very enticing. Especially since I got an car mp3 player which has 200+ songs per CD.

 

[bran987]

Is Sirius the one that threw all their last remaining cash reserves at Howard Stern in a last ditch sad tragic attempt to entice more customers to their dismal embarassing repository of paying customers?

Their technology is already antiquated. The internet is here and people want to hear internet radio in their cars. stream music on demand. get local weather reports. local news. hear local happenings. pull up maps, etc. etc. Hearing 200 channels of which 170 of them are of no interest to me -- isn't very enticing. Especially since I got an car mp3 player which has 200+ songs per CD.

you gotta do more research man. I know you hate stern, but he and mel karmazin don't just put their entire careers on an 'antiquated technology'. and they didn't throw their last remaining cash reserves at him, his deal was for stock options and cash over the next 5 years. they have over $600 million in cash. subscribership is increasing at screaming fast rates. you just hate stern. you think if people had no interest in them that GM, Mercedes, etc. etc... would all be putting them in their 2005 cars???

nevertheless, I did buy the stock, so it will go down soon! lol