Jacoby Leaves Bank of America
There has been no statement issued by Banc of America and no announcement has been made as to whether the financial institution will name a new analyst to cover the sector, or simply drop coverage altogether. No news has circulated on where Jacoby might land. Those that feel positive on the satellite radio sector will likely be happy with the news. Jacoby’s last report has a price targets at the low end of analyst ranges for both Sirius and XM.
Position – Long Sirius, Long
Mr. Jacoby was no friend to Sirius shareholders. His biased and some would say libellous comments and attacks were relentless. He served his purpose to align enterprise values of Xm /Sirius now it’s off to the next hit job!
I will never forget my first taste of Mr. Jacoby. It was during the “run-up” of Sirius stock just before Howard Stern started. And Jacoby gets on CNBC and just trashes the stock.
Of course, he was probably right about the “irrational exuberance” but he never stopped dogging Sirius, even well after the price and come back to earth. And he didn’t stop pumping XM until well after their price and fallen.
Back when it was a still a two dog race (what pun?) Sirius would announce something positive, and you just had to wait for Jacoby to come out and trash them.
Who can forget Jacoby detailing XM’s cheap fix (pennies?) to the FM modulator problem. Uhh, I guess you were wrong about that too, Mr. Jacoby…
I told you guys that Jacoby was a drug addict back in August. It’s over for him. If you know Wall Street you know that an analyst position in the equivalent of being a bus boy in a restaurant. It’s a shit job, and Jacoby was particularly shitty at it. He’s gonna be a reporter now, start his own blog and issue “Jacoby Reports” on a daily basis. With some traffic he will pull in about $50 a day, so about 18k a year with Adsense. He’s happy, at least nobody will be able to fire him, and it’s enough to cover a mid range habit.
https://siriusbuzz.com/forum/showthread.php?t=187
Good ridance to this guy. I well remember what he did to Sirius stock prices over the last 4 or so years. It’s amazing to me that a guy with so little insight can have such a huge impact on a stock. This is good news for Sirius stockholders.
Probably the best, most honest analyst covering the sector now gone. Too bad.
Forntmed said that as Jacoby was leaving his room. (If you recall I said (on another blog)that you and him should get one.