The “King of All Media” Howard Stern briefly discussed Sirius XM’s new high-profile investor on Monday’s show. Berkshire Hathaway Inc. (BRK-A) (BRK-B)’s recent filings revealed that Warren Buffett has taken a surprising 741,547 share stake in Sirius. Stern thinks Buffett’s vote of confidence in Sirius’ business is “cool.”
“I was very excited about it,” Stern said of Buffett. “The reason I like him is, from reading his book, he has amassed such a wealth, you know so many billions, and he turned it all over to Bill Gates and his foundation and only wants that money to do good for people.”
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Investors should certainly respect Buffett’s investing prowess. But when a listener asked about a potential merger with Pandora Media (P), Stern assured his audience they should never turn to him for advice about investing in Sirius stock.
“I got nothing to do with it, I don’t care who buys it,” Stern said.
“By the way, I always did question why a company that generates $1.5 billion in free cash flow—I thought the stock would be at $50, that’s how stupid I am,” Stern concluded. “I don’t know how all that works, so I just keep my mouth shut.”
Want to know what other stocks Buffett should take a look at in 2017, check out our real-time updated stocks focus list here.
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