Skip to main content
Message Font: Serif | Sans-Serif
 
No. of Recommendations: 1
So it is this-- hedge fund selling-- that accounts for the selling by Merrill, SoundView, and Unterberg of SIRI in the past seven days or so-- informed opinion indicates. Readers of this post can check for themselves, as is my constant invitation to readers to always do on anything i write.

One wonders why the stock of the company, SIRI. was ever bought by these large hedge funds if just prior to a launch institutional shareholders were going to sell their shares.

Sort of reinforces my opinion that financial institutions in general manifest a level of knowledge approximating that of a feldspar rock.

If you bought the shares, you should have hedged yourself with puts, instead of being forced to get a steep tax penalty on a short term capital gain.

I have often wondered why individuals do not their own research understake instead of giving their money to "money managers". This latest example-- selling shares of a satellite service provider before its maiden launch--makes me wonder again why individuals part with their substance and let others risk it for them.

Not this individual-- I'll manage my finances just fine, thank you.
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.