NEW YORK ( TheStreet) -- I'm not easily irritated, but nothing bugs me more than when investors put "hope" on the same level as quantitative assessments of a company, such as a cold, dissection of its income statement. The stock market provides all sorts of hints about where it is headed, but investors often choose only those hints that point in the direction they want -- or "hope" -- the market to go.
Now I'm not going to pretend that I'm a psychologist, but as a former longtime shareholder in Sirius XM Radio ( SIRI), I think I qualify to discuss what happens when "hope" in the stock market meets chronic disappointment. After all, how how many times has the company failed to meet expectations? The company plans to report first-quarter earnings Tuesday. Some investors are clinging to the belief that the company will not only deliver a market-beating performance but will also raise subscriber guidance to make up for what was perceived to be a low-ball projection earlier in the year. Even if Sirius raises guidance and delivers a "good" quarter, the question is what will it mean for the stock. It will mean very little if anything at all.