Friday, February 17, 2012

It Stinks

This post is about one of my worst stock investments.

New York sports fans are miffed about the contract dispute between Time Warner and MSG Network. In order to get their fix of "Lin-sanity" about two million viewers have had to go to sports bars or friends' homes with DirecTV or Cablevision subcriptions.

Dialogue from today's CNBC Squawk Box:
CNBC anchor David Faber: "If you have Time Warner, by the way, you're going to have to find [Knicks games] on the radio. I had to actually go out and buy an AM radio. It's been 48 days, 17 games, that have so far been missed by fans of the Knicks."

CNBC anchor Melissa Lee: "David, where do you even buy a radio these days...Radio Shack?"

David Faber: "Yeah, yeah, you can go to Radio Shack, you gotta go back into the back room." [Far away gesture with hands]

Melissa Lee: "Dust them off? Cobwebs?" [Brushing away motion]

David Faber: "It's 1980's, 1990's inventory." [Hilarity ensues.]
I feel bad enough about my Radio Shack investment. Now it's the subject of gratuitous mockery on CNBC. (I bought some RSH last May because I thought that they were one of the few electronics retailers who knew what they were doing. Boy, was I wrong.)

RSH has dropped nearly 60% since I bought it.

The comment about radios in the back room reminds me of an old joke about accounting inventory methods:

FIFO - First-in, first-out
LIFO - Last-in, first-out
FISH - First-in, still here

Not laughing so hard when it happens to you.

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