The self-proclaimed “King of All Media” Howard Stern briefly discussed Sirius XM Holdings Inc. SIRI 0.49%’s new high-profile investor on Monday’s show. Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: 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.”
Investors should certainly respect Buffett’s investing prowess. But when a listener asked about a potential merger with Padora Media Inc P 2.57%, 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…
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