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Stephen Faulkner

 
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  • Update: Sirius Rises On Earnings [View article]
    They are running much of the buyback through a third party. Cost of that is not getting the best prices (generally) in a range of time but also allows the third party to play games / control the price so the net result is hopefully a better price than if the company just kept buying and buying and buying from the market.

    Basically the company MUST buy and can't buy and sell. But if they contract through UBS with an ASR, and UBS holds convertible notes (hedge on a short) then UBS has a cash guarantee, a short hedge, and thus has massive control on the share price. They have to net purchase shares so there is upward bias but it can be done slow and steady... as investors sell out you just pick up the apples that are falling out of the tree so to speak.

    That hedge goes away Dec 1st.

    They did buy below 3.30 as well... it's in the report. Don't have the data in front of me right now.
    Oct 29 03:39 PM | 3 Likes Like |Link to Comment
  • Update: Sirius Rises On Earnings [View article]
    "I like the share price staying low because this allows SIRI to buy back and retire dramatically more shares than if the price were higher."

    EXACTLY :) Good to see some understand this! :)
    Oct 29 03:35 PM | 2 Likes Like |Link to Comment
  • Liberty Media Is Trading At A Meaningful Double-Digit Discount To Its NAV [View article]
    This is a great read Siddharth. Thank you!
    Oct 29 03:33 PM | 1 Like Like |Link to Comment
  • Sirius XM, Liberty Media And Pie [View article]
    Sure. There was nothing wrong with the earnings call. Really no surprises either way.
    Oct 29 12:39 AM | 2 Likes Like |Link to Comment
  • Sirius XM, Liberty Media And Pie [View article]
    I don't see how this is comparable.
    Oct 29 12:38 AM | Likes Like |Link to Comment
  • Sirius XM, Liberty Media And Pie [View article]
    It was at 3.65 in the past few weeks. You did not sell for some strange reason. Now you want to sell at 3.65. Sounds like an emotional mess of an investor and that is generally not a good thing. Always waiting to get back to where it just was or holding out for just a bit more...

    You come here and insult other writers. You are attempting to insult me, and you constantly post woe and misery all over the place.

    Sell. Please. Put your money elsewhere. Bye! :D

    "Let us all be civil during these difficult times."

    That went out the window with your post above, didn't it? :)

    Good "luck" to you...
    Oct 26 08:06 PM | 1 Like Like |Link to Comment
  • Sirius XM, Liberty Media And Pie [View article]
    And please sell :)
    Oct 26 11:29 AM | Likes Like |Link to Comment
  • After Losing Lawsuit On Royalties, Sirius 'Not Happy' With The Turtles [View article]
    The payments will be small or nonexistant for back dated stuff, and will take years to go through. This will be a lot of time and money spent by both sides for a bunch of lawyers to make money and that's about it.
    Oct 20 03:53 PM | 7 Likes Like |Link to Comment
  • After Losing Lawsuit On Royalties, Sirius 'Not Happy' With The Turtles [View article]
    Sure but it's pennies and doesn't change the monthly sub rate. For those that may be sensitive to what might amount to pennies a month, there is and always will be over the air free radio available.
    Oct 20 03:51 PM | 9 Likes Like |Link to Comment
  • After Losing Lawsuit On Royalties, Sirius 'Not Happy' With The Turtles [View article]
    SIRI passes content costs on within the MRF (a royalty fee charged separately), and addition of pre 1972 royalties (Which the company has said they feel should be paid anyways) would pass through in the fee.

    It's unlikely to have any significant impact in what would amount to pennies a month. Problematic for Pandora, though, as they will simply pay more and don't have revenue to offset it... they're forced to raise advertising rates or number of advertisements. Neither would be attractive.
    Oct 20 12:04 PM | 16 Likes Like |Link to Comment
  • Sirius Suffers Another Legal Setback [View article]
    SXM you make me nervous. Please... please... be careful with anything out of the money. It's so expensive to buy that stuff (yes even here) because you have to realize so much appreciation just to break even and then need to realize so much appreciation just to reach gains equal to if you had bought at the money strikes or something deeper in the money with little or no time premium attached.


    Let's say you added $3.50's at 10 cents... those have to hit $3.60 to break even. With the stock at about 3.16 you could pick up $3's at 30 cents and need only $3.30 to break even.

    3.50's double at $3.70

    3's double at $3.60

    Need about $3.75? or so for them to reach parity on gains.

    Even better is a spread, 3.00 3.50

    Double then at $3.40, break even $3.20, and that is in 3 months.

    Please be careful... obviously given my own positions I wish you the moon with the 3.50's but if this drags sideways another 3 months they are gone.
    Oct 18 10:55 PM | Likes Like |Link to Comment
  • Sirius XM: Expect Significant Short Increase At Next Release [View article]
    To be honest that article (highest shorted stock one) seems to be cut and pasted every couple weeks / each month or so. They're just talking about short ### of shares and it's really a useless article.

    The idea behind this was that the ASR would cause another short increase but it didn't. Was just a speculation and not really material in nature.

    What is more important to take away is the fact that SIRI will soon be rid of any near term debt coming due. After December there is no debt due for 6 straight years.
    Oct 16 12:13 AM | Likes Like |Link to Comment
  • The Kool-Aid Is Evaporating For Sirius And Pandora [View article]
    Not really... LMCA is more SIRI until or unless an agreement is reached, than SIRI is LMCA.
    Oct 15 02:19 AM | 3 Likes Like |Link to Comment
  • The Kool-Aid Is Evaporating For Sirius And Pandora [View article]
    It'll have some other stuff in it still. But it will be ... more pure. Allows room for more negotiation really... little bit better premium (since you are closer to a 1:1 exchange).
    Oct 14 04:04 PM | Likes Like |Link to Comment
  • The Kool-Aid Is Evaporating For Sirius And Pandora [View article]
    Keep in mind LMCA is buying back LMCA during this period as well. How wonderful is it to have 1 ticker that moves the other with both under majority ownership and both under independent buybacks?
    Oct 13 11:42 PM | 2 Likes Like |Link to Comment
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