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Stephen Faulkner

 
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  • Sirius XM, Liberty Media And Pie [View article]
    Oh I have not a clue about anything. Thanks for reading ! :)
    Aug 13 10:21 PM | 4 Likes Like |Link to Comment
  • Sirius XM, Liberty Media And Pie [View article]
    Continue being intrigued, then.

    You explain it. Write an article, or explain it here.
    Aug 13 09:39 PM | 4 Likes Like |Link to Comment
  • Sirius XM, Liberty Media And Pie [View article]
    It's loosely explained in my EPS article. Taxes cut earnings but they don't actually pay them. Just comes out of the booked NOL carryforwards. Not in an article writing mood. In a dinner eating mood :)
    Aug 13 09:05 PM | 3 Likes Like |Link to Comment
  • Sirius XM, Liberty Media And Pie [View article]
    "I pray this article is not part of an effort by Malone to pave the way for a marginally higher offer."

    It'd be nice to be that "in" with Malone... lol

    "If Malone wants SIRI he needs to pay up. He needs to take real risk by paying a large premium. Naturally he believes he can get SIRI so low that it will be accretive day one. Stockholders need to lawyer up to stop Malone."

    This is a lot of tough talk with nothing to back it up other than the ballistics in your picture... just sayin' :)
    Aug 13 08:14 PM | 2 Likes Like |Link to Comment
  • Sirius XM, Liberty Media And Pie [View article]
    That's Spanish :(
    Aug 13 08:12 PM | 1 Like Like |Link to Comment
  • Sirius XM, Liberty Media And Pie [View article]
    You are falling into the black hole of mixing cash tender and equity swap.
    Aug 13 07:39 PM | 3 Likes Like |Link to Comment
  • Sirius XM: Why I Want You To Keep Selling Your Shares [View article]
    "I thought these buybacks were supposed to increase EPS."

    I should be surprised but I guess I am not...
    Aug 13 07:21 PM | 2 Likes Like |Link to Comment
  • Sirius XM, Liberty Media And Pie [View article]
    Liberty Mutual? Really?

    Perhaps the 13th comment is unlucky but barely anything you said above makes any sense.

    Regarding EPS, read my article before this. Understand it. Once you do, come back.

    See you in a few years? :)
    Aug 13 07:19 PM | 7 Likes Like |Link to Comment
  • Sirius XM, Liberty Media And Pie [View article]
    Eastern European, are we?
    Aug 13 07:17 PM | 2 Likes Like |Link to Comment
  • Sirius XM, Liberty Media And Pie [View article]
    Did you just bring Apple / Google and Pandora into on of my articles?

    I'll give YOU a haircut, sir! :P
    Aug 13 06:50 PM | 6 Likes Like |Link to Comment
  • Sirius XM, Liberty Media And Pie [View article]
    Most of my SIRI is in a tax deferred account so I don't really think about it. I'm also not a tax pro by any stretch of the imagination so I am a bad person to ask. I always figure that whatever I get minus whatever I spent ends up the taxable portion... despite any changes here and there along the way.
    Aug 13 06:50 PM | 2 Likes Like |Link to Comment
  • Sirius XM, Liberty Media And Pie [View article]
    I guess I don't know enough to guess at that :)
    Aug 13 06:48 PM | 1 Like Like |Link to Comment
  • Sirius XM, Liberty Media And Pie [View article]
    Well they don't have to get to 75%. A good premium could come through at 66%.

    How long does that take them to get to. Assume they are able to buy all shares between $3.50 and $4 that they need to do that. Easily attainable by the end of 2015 I would think. Understand that as more shares are retired without them selling back, their stake increases more quickly, too. They need what, to retire another 1.2 billion shares at a median of $3.75? $4.5 billion? Use current $2.5 bil or so remainder in authorized buybacks. 1.5 billion in cash flow. Tap the revolver for 500 mil and get it done. Doesn't matter to LMCA. Doesn't cost a penny.

    Just because I have a Jan 2015 sell target of $5 doesn't mean I am sure the price will be where I would consider selling... I'm aware this could drag around for some time still. I'm not willing to attempt to time if / when the next offer may come through.... though.

    With all that said I think low prices become more difficult to get beyond December when UBS's shorting mechanism in the converts goes away. I'm watching to see if SIRI issues any more convertible debt ....
    Aug 13 06:48 PM | 3 Likes Like |Link to Comment
  • Sirius XM, Liberty Media And Pie [View article]
    An offer will come when it is the right time for them. Anyone gives you a specific timeframe ... they are guessing. Too many unknowns out there to pinpoint. Investors need to think about what they want to do if / when, and worry far less about when it might happen.
    Aug 13 06:40 PM | 1 Like Like |Link to Comment
  • Sirius XM, Liberty Media And Pie [View article]
    Honestly so long as SIRI performs I'm in this for the long haul. Not looking to trade out of it and be gone unless something bothers me here... I'd be happy with LMCA at full control after giving a reasonable premium on these shares I have dragged around over the years (and done very well on... FEW complaints!). I respect the value LMCA brings to the table and would much rather be in the same boat with them than in a ... slightly... tense situation.

    Still think the right place to be is SIRI here until an offer is made. We'll see how close everything tracks once they spin out that cable stuff. I'm no arb... so I've little interest in attempting to play that game :) My gut tells me I'd lose my shirt.
    Aug 13 06:38 PM | 4 Likes Like |Link to Comment
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