Lets establish something right off the bat....
I have read posts on silicon investor for quite some time, and have been content do so. My first post here was a post about my concern over what seemed obvious to everyone. Sirius had garnered a lot of attention, and the sales of Sirius units were ramping up in a big way. There was no bias in that post in the slightest. That post came on the heels of the subscriber announcements by both companies, and it was clear to me at that point that Sirius had taken a bigger chunk of the market than people were expecting. I said at the time that I felt a share price correction would be likely.
David Ray responded to that with some calculations that basically had little to do with retail market share. A method of breaking things down into NET numbers is not an indicator for retail sales. I tried to point this out in a response without going over the top in stating that the computations that David Ray gave were problematic. This is because the churn calculations for XM are handled in a manner such that the lag is 3 months to 5 months. This is mostly due to the way General Motors/XM offers the service.
My third post once again raised my initial concern, and centered on the move of their CES conference call. This move happened after Sirius unexpectedly announced their year end numbers. The move by XM seemed to me to be in reaction. Again, no bias here, but still the underlying concerns that I originally broached in my first post.
My fourth post was a response to what I felt was another bit of inaccuracy by David Ray. I felt that he was overstating and understating some items, and that the information he was posting may be considered by some here in their investment decisions. I felt it important to point out that the factory install program between XM and Toyota was in the year 2006, and not model year 2006. This information is very relative when anyone is considering making his or her projections. This is also where I began to look into what people were insinuating about David Ray. His comment regarding that an 8k would have been required is simply not a factual comment. I found it surprising that he would make that. My research took me to the Silicon investor Sirius board where I began to see what the comments of others were relating to. From there I saw posts on other boards, and was quite shocked at what I found.
My fifth post was regarding the SEC filings once again. David Ray felt that XM still had more time to file on a recent announcement. To date, there has not been a filing. There was no bias in the post, just a reporting of factual information.
I did not post for some time, while I looked further into things regarding SEC filings and the posts of David Ray elsewhere. I came to the determination that I simply could not put any trust or faith into his statements. In my opinion, he seemed to carry an agenda about these equities that I have not figured out the reason for, and frankly do not care to. Knowing that he has this agenda was enough for me to form my opinion. When he offered to go on his own thread, it seemed like a good idea to me, and that hopefully people here would be better served by it.
Thusly, I contend that I do not have an agenda other than the facts. I became a seller shortly after the January 5, 2005, and bought back in recently. That is what matters to me. |
