Wait, what? (Sumner Redstone v. YouTube)

Tags: redstone, cbs, viacom, via, media, youtube, goog, titans of industry, people, billion
14 Mar 2:51am
Posted by zenoizen
3 Comments
 What's going on here? 

1. Sumner Redstone, is chairman of both Viacom and CBS. 

2. Viacom is suing YouTube for $1 Billion.  (http://www.bloomberg.com/apps/news?pid=20601087&sid=aosSxAeAZdhI&refer=home)

3. CBS' Stephen Snyder says that CBS's partnership with YouTube "is working, and it can continue togrow," adding that, "consumers love them, and we want to be whereconsumers are." (http://www.forbes.com/2007/03/09/cbs-google-youtube-tech-cx_lh_0309youtube.html)

No doubt there's a logic to it all.  I just can't imagine what it is.

Oh, Snyder also added:  "all of this stuff is tip-of-the-iceberg type of stuff; there's so much beneath the surface that makes it hard to comment on."

In any event, I'm going to double down on Sumner Redstone.  He's smarter than Ted Turner and Rupert Murdoch put together. 

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supersizeme
You lucky bastard! hahaha, you made a killing on shorting the New Century Financial Corp.
Posted on Mar 14, 2007 @2:55am
ishmiel
You know what it seems like. Probably something in the background we don't know about. Probably threatening them to do something outside of court. I like what you wrote though. Conspiracy...

Like I said in my blog, who knows.
Posted on Mar 14, 2007 @9:56am
zenoizen
Luck is for sure the thing to call it. Unfortunately, the stock was delisted in the real world. My whole portfolio may have to be reset to square one.

I'll be back though! I'd rather be lucky than good any day.
Posted on Mar 15, 2007 @4:08pm
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zenoizen

Current strategy...

1. Reduce losing positions. I've got a slew of stinkers in my portfolio. Many of them are down simply because everything is down. Thing is, I need the cash to pick up a few things that I'm sure are due to move upwards. So, I'm taking some losses to get the needed cash.

2. Buy. Markets are down, but there's no doubt that there is going to be some general upward movement over the summer of 2008. I'm concentrating on ETFs to get the built-in diversification. Plus, I'm also trying to find ways to play different commodities and currencies etc. that will probably gain a few percentages... looks like corn, coal, the dollar and interest rates are the way to go right now...

3. Wait. A lot of the "crap" I'm holding is actually undervalued, and ought to return over the next quarter or two. My excessive shorting of QID will most likely be mitigated in the medium term. Time heals all wounds, they say. Hope they're right!

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