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Howard Stern Asked About Buffett's Stake In Sirius XM: 'This Guy Is Unbelievable'

Howard Stern Asked About Buffett's Stake In Sirius XM: 'This Guy Is Unbelievable'

The self-proclaimed “King of All Media” Howard Stern briefly discussed Sirius XM Holdings Inc. (NASDAQ: SIRI)’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.”

Related Article: A Decade After Leaving Traditional Radio, Howard Stern Is Vindicated

Investors should certainly respect Buffett’s investing prowess. But when a listener asked about a potential merger with Padora Media Inc (NYSE: 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.”

Sirius shares opened Monday’s session trading at around $5.15, putting the stock’s forward PE ratio at 22.9 and its P/FCF at 15.8.

Image: Bill Norton, Flickr

Posted-In: Howard Stern Warren BuffettTech Media Best of Benzinga


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