Are you talking about significant contributions like Sell SIRI at a loss (trading at $2.10 in August '04 when you contributed this advice to the world)and buy XM, OR Sirius will not reach 800k subscribers in '04, OR Radio Shack will not contribute to the Sirius subscriber base? I can go back and literally find dozens of your contributions that have been proven to be WRONG or outright lies. I have documented your contributions, would you like me to post here again?
Hey, I've made some mistakes, no doubt about it.
But given the same circumstances today, I would still say that Sirius should be dumped at $2.10. As I've always maintained, getting rid of Clayton would make a difference, and it did. I now believe Sirius is worth $1-$1.50 more ($3.10-3.60 is a reasonable value for SIRI, and I will likely buy it when it returns to these levels).
This statement at 2.10 sounds pretty idiotic. But if one looks closely at what has transpired, it is pretty easy to see why it was the right call then, in spite of what has happened since.
Sirius was dumping at the time because the NFL deal clearly was showing signs of failure; my statement about 800K was right at that time as well.
Then, there was Stern, and the commitment of a half billion dollars to him. Obviously that changed the game. In my opinion, it was a huge mistake for Sirius. Yes, Sirius got to 1 mln, and the pps popped to an irrational level, but it totally crushed the company's business model, adding $100 mln/year in fixed costs. Will it pay? Maybe. But it is a roll of the dice with 650,000 shareholders' money.
I'm not sure I ever said RSH wouldn't contribute. But clearly, RSH sold 80-90K units and that is significant. I don't have any problem admitting I was wrong on that; my wife told me I was wrong at the time -- probably should have listened to her.
But the point is, yes, I sometimes make predictions that don't play out as I think they will. But I also bring a lot of truth to these threads. You do neither.
You bring biased and disingenuous statements. Invective. Statements which are not merely wrong (as I do), but that are outright lies and intents to mislead. I do not do that. I simply make mistakes sometimes.
I have been right more often than I've been wrong about Sirius. Right about issues such as subscriber misses, at least a half dozen additional trips to the capital markets (and at least one left to go), and about the sheer incompetence of SIRI's management, in the face of being called every name in the book by you and others.
It doesn't bother me to be wrong. It would bother me to allow you and others to make misleading statements without challenging them. |
