I havent, but I definitely will. Been kinda following it since it was still in production, looks to be entertaining. This SIRI shortselling alarmism piece....not interested.
Mel Karmazin has to be the worst operator in the history of corporations. He would give millions to a friend of a friend of a celebrity to blab on air for 5 mins. They would have made money just on clean audio for music throughout the country. Complete disaster. Burning money.. investor money. Companies like this is why I don't trust this paper for a second. He makes that thief over at chk look like Henry Ford.
In regards to siri it was an okay structure, they were set to make the Howard stern $ back by selling advertising and subscriptions which went from the 100k's to the multimillion practicaly overnight. However their competition was too strong, that being terrestial radio. They had lawmakers in their pockets and the merger with siri and xm was delayed for so long that by the time they got approved they had run out of juice. Classic example of corruption in gvt and how giant corporations can crush competition by using politicians. Oh yeah who remembers Cramer screaming buy buy buy when the stock was at 3 bucks???
I remember surf here on elite saying buy buy buy at around 3 bucks too. It was classic pump and dump... but I think he did give people a chance to get out with a profit.
This is a 5 stars review of the movie, the rest of the reviews are 1-2 stars: "Some of the world's worst investors band together to make a sour-grapes film about their losses in SIRI. With absolutely no sense of self-awareness or irony, they blame everybody but themselves for their own foolishness. They don't realize they made all the classic investing mistakes: falling in love with a stock; buying on a story rather than fundamentals; neglecting diversification; ignoring the business environment, including regulations and short interest; failing to set stops and get away from a trade going bad. Then they underline their hubris by hectoring investor relations and threatening lawsuits. I recommend the movie to clear-eyed investors who can see the lessons that the filmmakers don't even know that they're teaching."
Oh the herd ... Such a necessary element in this business, come in all shapes and sizes, some intelligent succesful profesionals from other fields but blind as a bat when it comes to reading between the lines and filtering out media hype.