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No. of Recommendations: 7
Are things so bad back in Fooldom that the best you can come up with for $17,500.00 is a short of SIRI? I can tell you, as a subscriber to Pirates, that I didn't think the time was right to invest in SIRI. But to short it? No way! Having read Porters'reco on SIRI I knew his research was sound (HofferFool is Porter Stansberry) but being a more conservative investor since the Tech Wreck did not feel that projections of subscribers was enough in the positive column to warrant my participation. It has since (SIRI) hit it's trailing stop reco'd by Porter and is no longer in the Pirates portfolio, so I guess for the moment I saved money on that "puppy". But the research by TMFJeff to short it is paltry at best and I certainly wouldn't want him managing my portfolio. Just the off balance sheet debt responsibility of XMSR is enough to make SIRI a better "speculative" investment as a long, not a short, if you believe in the value of satellite radio at this point.
As a fool for several years I rate this site as among the better of those out there. I have great respect for Bill Mann and Whitney Tilson and read, copy and file most of their bulletins. Tom and Dave aren't so bad either. But this business of shorting SIRI seems to be the most "off the wall" reporting I have seen. Time, of course, will tell but I believe this might prove to be one of your worst projections. It's dangerous because even though you make many and frequent disclaimers about following your portfolios, many people do regardless. Those who do, probably do not or are not knowledgeable enough to, do the research on their own. That is why, when the Fool research is lacking, it can do more harm than good.
My big issue with this is as I stated before, this can't be the best place to park $17,500.00 in this market. If you're looking for a good short, try IBM, they've been cooking their books for years and the time is near for the big fall.
This, of course, is just MHO and must be taken as just that. Shorting SIRI was a disappointment because it showed laziness and sloppiness in arriving at the decision. As the old saying goes "shape up or ship out"!
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