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Thread: Buying Sirius Stock - BIG MISTAKE!!

  1. #1
    JasonL is offline
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    Buying Sirius Stock - BIG MISTAKE!!

    Buying Sirius stock was one of the biggest financial f*** ups I have done in a while. Been following all this cluster f*** for over a year, and I have come to the conclusion the whole world is against the merger, satellite radio, and sirius. They have dropped the target price so low, that even if the FCC ever approves this merger, the stock will only jump a dollar or so, and I'll still lose money. This has been a learning experience for me that Wall Street is a big fraud, I will start keeping my money in Savings accounts, CDs, and money markets, f*** this fraudulent American market, its run by a bunch of crook analysts.
    I have had enough, im willing to take a loss to save whats left of my money.

  2. #2
    cmule314 is offline
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    I've been in the market close to 40 years this July, and what we're seeing with the Sirius/XM merger is pure manipulation by Goldman and other assorted I will call them characters. Sorry you took that position on selling your shares short, but I feel you shouldn't have taken a lose and held on thru this rocky ride.

  3. #3
    clueless is offline
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    I agree somewhat and I feel your frustration but you should change the title of this post to "our government is bought and paid for by big business."

    By the way... the biggest mistake you could make is selling that stock right now.

  4. #4
    JasonL is offline
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    oh yeah

    i never said I sold, Just meant this has been hard to hold on to.
    Im riding this out, win or lose, but the FCC, NAB, and all the other disturbances should be ashamed of themselves, a merger review should NEVER take a year and a half. Its funny when you look at the circulation list that between november and january it looks as if they took a few months off as expected.

  5. #5
    ALL_IN is offline
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    Thumbs up All-in & Holding On

    Glad you are not bailling Jason. As you can tell by my handle I am in and staying. My only worry is can the merged company make it. If they can then the stock price has no where to go but up. A lot of competition to be sure, but nothing has the variety and ease of use that SIRIUS has. Access in just the remote locations (boats, Kansas plains, mountain cabins) gives it a big plus. Isn't an IPOD about like a CD player? And how is Internet access going to work in remote locations? Scary to hold on, but long term I think it will be worth it. I hope they have been working on post-merger plans and announcments.

  6. #6
    zcurzan is offline
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    Quote Originally Posted by ALL_IN View Post
    Access in just the remote locations (boats, Kansas plains, mountain cabins) gives it a big plus. Isn't an IPOD about like a CD player? And how is Internet access going to work in remote locations? Scary to hold on, but long term I think it will be worth it. I hope they have been working on post-merger plans and announcments.
    Good points. The bigger the risk, the bigger the reward. Its pretty clear from reading peoples thoughts, complaints, and fears about this whole process that many people really got in over their head expecting a "quick buck". I think the idea is to shake the retail holders out of Sirius before the merger goes through. What better way than to play on their fears and demoralize them?

  7. #7
    clueless is offline
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    You want to talk about "all in?" I own about 30k worth of siri and nothing else
    Hey Cramer... am I diversified?

  8. #8
    zcurzan is offline
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    That's interesting. If you don't mind me asking:

    How old are you?
    How much of your savings does that 30k represent?

    Good luck. Wish us the best with our investment.

  9. #9
    Dlite is offline
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    Wow. My portfolio is 30% Sirius. Hardly diversified at all, but I couldn't help but average down while the stock dropped.

  10. #10
    clueless is offline
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    I am 27 and that $30k is about 50% of my liquid net worth.

    I am not in the least bit scared. I use and love this service and so does anyone I have ever met that has given it a chance.

    When the iPod first came out I bought one and thought that Steve Jobs was onto something... and I couldn't have been more right. My 5k investment in the stock (all I had) turned into 30k which I am letting ride on Sirius. I am willing to bet that I will be correct once again.
    Last edited by clueless; 06-26-2008 at 12:55 AM.

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