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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.
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