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Non-Tech : Paired Trades and Hedging Strategies
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To: Biomaven who wrote (1)10/6/2004 4:17:28 PM
From: Sam Citron  Read Replies (1) of 136
 
Following up on my proposed long sub radio short com radio pair, I notice that SIRI is up 16% today on the Howard Stern migration to Sirius, which is no surprise to me in light of the fact that one of the motivators is the regulatory arbitrage play where stricter FCC content regulation of commercial radio sets in motion a "race to the bottom" effect where creativity migrates to subscriber radio and commercial radio becomes more bland as a result. Tends to make the "death of radio" thesis more a certainty, in spite of what one might think of the merits of Howard Stern.

The fact that XMSR passed on the opportunity makes me even more confident in the choice of XM for the long sub radio proxy. In fact the play of the evening may be long XM/short SIRI. <g>

Sam
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