As seen on:

Here is what our readers say:

"Thanks for your ideas and advice over the last few years" D.M.
"You are one of the most interesting, talented writers I know" A.G.
"I look forward to your emails. They are among the very few that pass my screen." J.C.
"The world needs more of voices like yours" B.W.
"I don't know anyone else that writes like you, shares market points of view like you, and makes things seem personal and approachable!" J.C.
"Thanks for your ideas and advice over the last few years." D.M.

Westwood One to Avoid

The value guy in me always awakens when I see a stock scratching at multi-year lows, and Westwood One (NYSE: WON) piqued my interest a couple weeks ago. It declined from more than $30 two years ago to around $11 today, trading at about 11 times 2006 earnings. That’s cheap — but is it cheap enough? At first, the company seemed very appealing: It pays a nice 3.7% dividend, and its small capital expenditures help it generate a lot of free cash flow. In addition, Sirius (Nasdaq: SIRI) and XM Satellite Radio (Nasdaq: XMSR) are its friends, not foes. Westwood One doesn’t own radio stations; it creates content like traffic updates and Jim Cramer’s radio show, selling those shows to both terrestrial and satellite radio stations.