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Stephen Faulkner  

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  • Sirius XM: Absolutely Critical To Liberty Media [View article]
    Yeah it has to do with the GM deal. Spencer is better to ask on the specifics of that as he understands the situation to a T.
    Apr 3, 2013. 06:29 AM | Likes Like |Link to Comment
  • Significant Short Interest Decreases (Mid-March Update) [View article]
    Thanks Bill :)
    Apr 3, 2013. 06:27 AM | Likes Like |Link to Comment
  • Sirius XM: Absolutely Critical To Liberty Media [View article]
    It's ok hopefully my comment helps :)
    Apr 2, 2013. 10:46 PM | Likes Like |Link to Comment
  • Sirius XM: Absolutely Critical To Liberty Media [View article]
    Because that is not SIRI specific, and has little to do with how I view SIRI in the meantime.

    You can ask that question about any stock, and there are other authors who, I am sure, would jump at the chance to run rampant on speculation along those lines.

    SA Contributor Kofi Bofah: http://bit.ly/16uUisk might be willing to help you, as he has written some "out there" SIRI articles in the past.
    Apr 2, 2013. 10:45 PM | 1 Like Like |Link to Comment
  • Sirius XM: Absolutely Critical To Liberty Media [View article]
    Saintssense ---

    I get it though, some people like to chit chat back and forth. I just don't find a lot of value in it. Jack's a special case. I've little patience with him based on his attitude in the past. This 'crew' comes from that dukeufinstu character that used to post a bunch of drivel and speculation on the yahoo boards. From "The Duke's" original mission statement :

    "We are a group of students engaged in a multi year project that monitors the XM and SIRI boards. The students come from backgrounds in finance, economics, computer sciences and mathematics.

    There are a number of people that post under our user name.
    The group does not have its own email address nor are we permitted to interact with any poster except through the board.

    We do post on both boards. We do not take sides on any issue. Our goal is to stimulate debate or ask questions that will enhance the debate. We do not want to become part of the debate."

    Unfortunately the remnants of that experiment by the duke financial students linger on today. Who knows. Perhaps Jack was one of the group. Lots of questions, zero answers, and zero value. SIRI investors are not some "experiment" to toy with, and I don't appreciate this kind of nonsense within my articles. There are others who will be happy to entertain it.
    Apr 2, 2013. 10:05 PM | 4 Likes Like |Link to Comment
  • Sirius XM: Absolutely Critical To Liberty Media [View article]
    You'll need to tap another author for that sort of speculation on what if, maybe when, sometime in 20XX, X may do Y if Z doesn't do Q^2. I don't see it as consequential until or unless it happens, and for that matter one could go into the "what if" of leprechauns from Mars ripping apart the satellites as solar flares engulf Japan...

    You should know by now I don't operate in that fashion.

    And you should know by now this is the response you will get.

    Come on now...
    Apr 2, 2013. 09:22 PM | 3 Likes Like |Link to Comment
  • Sirius XM: Absolutely Critical To Liberty Media [View article]
    amp you deleted your comment too fast ! I keep getting an error trying to reply and it's cuz it's gone... haha

    My response :

    "It's a torture test for some :) Remember braveheart when he's being eviscerated and they keep telling him to kiss the seal and swear allegiance to the king?

    I can keep saying patience but that will get old like the sideways activity too. Everyone has their breaking point..."
    Apr 2, 2013. 07:57 PM | Likes Like |Link to Comment
  • Sirius XM: Absolutely Critical To Liberty Media [View article]
    Fair enough. I fully expect them to sell some back, and that will provide cash. I still find it unlikely that LMCA will ratchet up SIRI debt in a cash grab and spin out the company post haste. SIRI is too valuable in the borrowing power it gives to LMCA.
    Apr 2, 2013. 07:10 PM | Likes Like |Link to Comment
  • Sirius XM: Absolutely Critical To Liberty Media [View article]
    Would estimate based on SIRI value, LMCA holdings in SIRI, and LMCA value that SIRI makes up ROUGHLY 75% to 80% of LMCA market cap.

    ROUGHLY... you hear that oh people who may come in and nickle and dime me to death on this estimation? ROUGHLY ;P
    Apr 2, 2013. 06:53 PM | 1 Like Like |Link to Comment
  • Sirius XM: Absolutely Critical To Liberty Media [View article]
    Yeah I've been saying similar since last year. Not sure what the % is at now but every time I say it someone comes in and waves their finger and tells me LMCA trades at a discount to its parts so I can't say EXACTLY what percent of LMCA SIRI is....

    IMHO SIRI is much more than 60% LMCA's cap.
    Apr 2, 2013. 06:46 PM | Likes Like |Link to Comment
  • Sirius XM: Absolutely Critical To Liberty Media [View article]
    Thank you jjed. There's certainly no guarantee on this, but I think it's a concept that will prove substantial going forward. SIRI provides LMCA with market cap which provides it with borrowing capability. Can LMCA pull a couple billion and spin? Sure. But margin provides up to 50% or over $5 billion borrowing power.

    If SIRI is expected to appreciate in the interim through its buyback program, all the better. Borrow for X% against an asset that appreciates at X%+Y% .... = make more than simply exiting the asset for a cash grab and using cash.

    Kinda like selling an income property to use cash to fund something else, vs. taking an equity loan and using that yet receiving the income and property appreciation from the underlying asset. Yeah... you can lose on that play if the asset goes down in value but here you have SIRI with significant cash flow potential. Risk, in my opinion, is very light.
    Apr 2, 2013. 06:44 PM | 1 Like Like |Link to Comment
  • Sirius XM: Absolutely Critical To Liberty Media [View article]
    That's assuming you expect LMCA to wish to repay the margin loan in short order. I wouldn't expect they would enter into an issue that needed attention so quickly.
    Apr 2, 2013. 06:39 PM | Likes Like |Link to Comment
  • Sirius XM: Absolutely Critical To Liberty Media [View article]
    I think LMCA will be well aware of any possible revisions long before they go through. I just don't see revisions coming through the pipes without Malone knowing. He has too much money and is far too influential. Not that I am suggesting anything with that but... well... ya know...

    LMCA has no incentive to ditch the shares and shrink LMCA if they can borrow against the equity SIRI provides AND if they see appreciation on the equity in excess of the cost to borrow. I didn't get too involved in the article because I just wanted to communicate a simple point but may expand on intricacies in a future piece.
    Apr 2, 2013. 06:37 PM | Likes Like |Link to Comment
  • Sirius XM: Smart Money Not So Smart [View article]
    And there you go :

    http://seekingalpha.co...

    I think it's pretty darn important to consider this idea. Worth a thought, even if some will disagree :)
    Apr 2, 2013. 05:50 PM | Likes Like |Link to Comment
  • Sirius XM: Smart Money Not So Smart [View article]
    Also keep an eye out for what I have coming (hopefully) soon if SA publishes it. Pgourley seeded the idea in my head and I think it's pretty darn big, or will prove to be... might dispel some notions that LMCA is due to split SIRI from its ranks anytime "soon." Heck it goes back to what I have been saying for over a year now ....

    I added some commentary regarding this article here over at saintssense too, check it out of you get a moment... insidermonkey really shouldn't be custom fitting data like that to make a "story".... :

    http://bit.ly/17bzirD
    Apr 2, 2013. 04:24 PM | 2 Likes Like |Link to Comment
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