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Satwaves
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Brandon Matthews (pseudonym) is the founder of SatwavesPro.com, which was borne of his desire to help retail investors after witnessing the continually changing ways that Wall Street can cheat them. Brandon has worked for Monroe Parker Investment Bankers, Morgan Stanley Dean Witter, American... More
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  • All It Takes Is Forward Thinking 0 comments
    Apr 22, 2009 3:27 PM | about stocks: SIRI
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    It seems some people have nothing better to do than to attack me for my analysis of Sirius XM's proposed authorized share hike. He said, she said, yes, no, maybe. There is obviously major disagreement regarding the terminology of past SEC filings. Rather than delve into them and open a dialogue, some people find it easier to attack my work personally. I guess this is how Jim Cramer must feel. I have made my position clear based on data that is available through SEC filings and data sourced that information through links. To jump up on a pedestal and critique my work is no less than childish.

    The truly sad aspect of once reputable writers who choose to attack my research is the complete lack of forward thinking on their part. I will take a look from their perspective however, in which I can actually draw a different analysis that does not change the end result.

    Let us assume that the preferred shares are not in fact part of the "deal" as stated in the filings. Let's even go so far as to say that the reference to December 31, 2009 is moot. None of this changes the fact that those preferred shares can be repurchased outright, by means of the very same proposed equity offering I eluded to yesterday! The end result is the same. The removal of over 2.5 fully converted shares from the books.

    The problem I believe stems from the perception of John Malone and what his intent was when making this loan to Sirius XM. I believe that Mr. Malone has faith in Mel Karmazin and the management team at Sirius XM. He has been wrongly labeled as a sort of corporate raider. It boils down to motives. Did Mr. Malone extend this deal in an effort to take over a company's infrastructure, or was he looking to do a win-win deal that would benefit all parties? Investors in Sirius XM should get to know the man that wields so much power and uncertainty over the company. I suggest they start with this Time article: The Third Man: John Malone.

    Position: Long SIRI

    Stocks: SIRI
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