Maven: Too Much Housing Hope

A year ago almost to the day, The Business Press Maven warned readers about all the overblown excitement regarding Howard Stern's arrival at Sirius(SIRI Quote) and, by extension, XM(XMSR Quote). The business media framed the situation like this: Either satellite radio or terrestrial radio would prevail, probably the first because of Fartman. Investors listened, and satellite radio stocks were briefly the belles of the market ball.

The Business Press Maven said it was not an either/or situation and that both would fail. Though it is haughty and intolerable to say so, once again I appear to have been right. As the year ends, the satellite radio stocks, like the housing stocks, have traded up off their lows. And we see the business media spinning their wheels as the Motley Fool does, attempting to justify the rise as being the result of substance more than a dead-cat bounce.

But I cast my lot for satellite radio as with homebuilding: with the dead cat. Happy New Year.