Jeff Kalnitz

BUY SIRI?! I have been pondering what to buy with my remaining $230,000 cash. The tide may be turning on the merger of XM and SIRI...

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Shall I remain measured, and to some small extent "conservative", given the number of momentus sizzle stocks I already have chosen for this contest? Or shall I live on the edge a bit, with greater risk and the potential for a big pop?

What a double edged sword this question represents. In such a volatile market, buying great stocks on substantial dips is by far the most sensible strategic methodology I can envision without a crystal ball. Look at Jon Markman's recent article http://articles.moneycentral.msn.com/Investing/SuperModels/5StrategiesForASinkingMarket.aspx describing some top market prognosticators' predictions. They are all over the map, even though every last one of these legendary investors is hugely successful over many years!

If they vary so diversely in calling the market's future probable direction, where is my qualification to predict the future? Still, as WFMI recently indicated, sometimes when a stock is given up for a sleeping dog, a single turn of events can provide a 10, 20 or more % appreciation in the stock price almost over-night!

So I've compiled a short list of stocks that while volatile and high risk, could undergo similar appreciation given the right developments. And I pulled the trigger today on 20,000 shares of SIRI (Sirius Satellite) , which as of noon-time was actually up a few percentage points as the braoder market was down.

Yes, it's true- I too can heed the siren's call, and live on the edge, wooed by the promise of quick, "easy" money in a game of high stakes poker. Just don't bet the farm, I tell myself as I take a calculated risk that the proposed merger will see the light of day before this contest is over.