News + Media

Screen Shot 2017-02-17 at 8.30.43 AM

LIVE: Return to the Magazine Cover Indicator

Posted: February 17, 2017

Author: Jonathan Hoenig

Filed under: ,

Share: Facebook | Twitter


The 2000 AOL/Time Warner Deal was front-page news.

January, 2000

Seventeen years ago, AOL purchased Time Warner in what was then the largest merger in corporate history. The announcement was accompanied by front page stories in Time, BusinessWeekNewsweek and others.

On WFLD-TV that same week, analyst Jonathan Hoenig correctly identified the coverage as indicative of The Magazine Cover Indicator — a contrarian sign for the companies involved.

Hoenig: The Magazine Cover Indicator and AOL? (January, 2000)

Not long after, shares of both firms fell dramatically. The deal is now known as “the biggest M&A mistake in history.


Screen Shot 2017-02-17 at 7.37.53 AM


As the dominance of print has faded, Hoenig has developed alternatives to the Magazine Cover Indicator as reliable contrarian signs. The Simpsons Indicator, explained in a recent #Capitalistpig LIVE, has been a profitable signal ever since.

Enjoy this limited encore replay of our LIVE Saturday Morning show.

#Capitalistpig LIVE, “The Simpsons Indicator” (2/2/17)

Leave a Reply

Your email address will not be published. Required fields are marked *