BuzzMachine

The media pundit's pundit. Written by NYC insider Jeff Jarvis, BuzzMachine covers news, media, journalism, and politics.

Satellite stock

1 comment on Satellite stock

Satellite stock

: The NY Post reports that there’s an investigation into the rise Sirius stock before Howard Stern announced he was moving there. The SEC even subpoened show regular Chaunce Hayden — who never gets anything right; he even tried to “report” that the wrong Desperate Housewife was reputed to be gay after he heard part of a TV tease. Stern has said frequently that he could not tell anyone about his plans until the announcement was made precisely because it would have been insider information.

But this was hardly insider speculation. As soon as Janet Jackson bared her inch of flesh, I bought Sirius and announced it here. It was obvious to me: The FCC witchhunt would get worse; Congress would go nuts; Stern would leave terrestrial radio; he’d go to the player ready to pay him more and because Sirius is the underdog, it would be Sirius. It’s the only stock pick I’ve ever done well because it was so damned obvious.

1 response to “Satellite stock”

  1. Ivan Helfman Avatar
    Ivan Helfman

    While the SEC crackdown may have been obvious, neither Stern’s move to Sirius nor the correct stock play in response to Stern’s move were obvious, or even probable, to me. Without inside information, a stock investor or trader could only have guessed whether Stern would land at Sirius, XM, cable TV, Hollywood, or retired.
    Also, I find your stock play debatable. With Sirius gambling hundreds of millions on Stern, Eminem, and professional sports, perhaps the more prudent stock play would be snaring shares of the more frugal XM, which gambled on cut-rate shockers, Opie and Anthony. Chaunce Hayden’s buy call on spendthrift Sirius may turn out as reliable as his reporting on Terri Hatcher’s coming out party.