Page 1 of 2 12 LastLast
Results 1 to 10 of 17

Thread: David Bank has a Big SAC

Hybrid View

  1. #1
    Sirius Roadkill is offline
    Mentor
    Sirius Roadkill's Avatar
    Joined: Feb 2009 Posts: 1,882

    David Bank has a Big SAC

    BGB Securities – Murray Arenson $1.35
    Janco Partners – Martin Pyykkonen $1.40
    Barrington – James Goss $1.25
    Lazard – Barton Crooked $1.35
    Miller Tabak – David Joyce $1.25
    Wunderdich Sec – Matt Hooligan $1.50
    Standard & Poors – Tuna Amobi $1.50
    Maxim – John Tinker $1.40

    RBC – David Bank $1.00

    “Near-term, profitability should lag due to SAC ramp ahead of gross additions, but that will likely ‘even out’ over time,” Bank explained.
    Last edited by Sirius Roadkill; 08-19-2010 at 06:53 PM.

  2. #2
    SiriMonkey is offline
    Quote Originally Posted by Sirius Roadkill View Post
    BGB Securities – Murray Arenson $1.35
    Janco Partners – Martin Pyykkonen $1.40
    Barrington – James Goss $1.25
    Lazard – Barton Crooked $1.35
    Miller Tabak – David Joyce $1.25
    Wunderdich Sec – Matt Hooligan $1.50
    Standard & Poors – Tuna Amobi $1.50
    Maxim – John Tinker $1.40

    RBC – David Bank $1.00

    “Near-term, profitability should lag due to SAC ramp ahead of gross additions, but that will likely ‘even out’ over time,” Bank explained.


    Using extraordinary restraint and biting my tongue.

    Nope, I can't do it.

  3. #3
    Sirius Roadkill is offline
    Mentor
    Sirius Roadkill's Avatar
    Joined: Feb 2009 Posts: 1,882
    Quote Originally Posted by julietoo View Post
    Using extraordinary restraint and biting my tongue.

    Nope, I can't do it.
    Have you had a chance to check out David Bank's big SAC?

  4. #4
    SiriMonkey is offline
    Quote Originally Posted by Sirius Roadkill View Post
    Have you had a chance to check out David Bank's big SAC?

    Why SRK, are you trying to goad me into saying something I"ll
    regret?

    A lady never tells.

    Julie

    Isn't there a law against exposing a big SAC?
    Last edited by SiriMonkey; 08-25-2010 at 10:07 PM.

  5. #5
    Sirius Roadkill is offline
    Mentor
    Sirius Roadkill's Avatar
    Joined: Feb 2009 Posts: 1,882
    Quote Originally Posted by julietoo View Post
    Why SRK, are you trying to goad me into saying something I"ll
    regret?

    A lady never tells.

    Julie

    Isn't there a law against exposing a big Sac?
    Bank's big SAC has been all over the internet lately. I'm sure Bank has shown his big SAC to the Capital Markets clients at RBC. Tyler saw Bank's big SAC but as far as I know has never commented on it.

  6. #6
    SiriMonkey is offline
    Quote Originally Posted by Sirius Roadkill View Post
    Bank's big SAC has been all over the internet lately. I'm sure Bank has shown his big SAC to the Capital Markets clients at RBC. Tyler saw Bank's big SAC but as far as I know has never commented on it.

    Banks needs to learn to keep it zipped. He's liable to get his
    big SAC cut off.

    Julie

  7. #7
    john is offline
    Guru
    john's Avatar
    Joined: May 2008 Posts: 2,836
    Quote Originally Posted by Sirius Roadkill View Post
    BGB Securities – Murray Arenson $1.35
    Janco Partners – Martin Pyykkonen $1.40
    Barrington – James Goss $1.25
    Lazard – Barton Crooked $1.35
    Miller Tabak – David Joyce $1.25
    Wunderdich Sec – Matt Hooligan $1.50
    Standard & Poors – Tuna Amobi $1.50
    Maxim – John Tinker $1.40

    RBC – David Bank $1.00

    “Near-term, profitability should lag due to SAC ramp ahead of gross additions, but that will likely ‘even out’ over time,” Bank explained.


    I could agree with David Bank here if the facts did not get in the way of his projection. What I mean by that is, HOW MANY SUBS DID THEY GET IN THIS LAST QUARTER AGAIN??????? Thats right 582,000 (most of which came from OEM sales). Soooooooo, then what happen to SAC? when that huge number came in, it must have gone up huge, RIGHT??????? No it barely moved, when you consider that SAC has come down as much as 10 to 12 dollars over the last two years, 2 dollars is not that much for it to go up with them adding not only 582,000 subs but the actual number is alot higher when considering churn.

  8. #8
    Sirius Roadkill is offline
    Mentor
    Sirius Roadkill's Avatar
    Joined: Feb 2009 Posts: 1,882
    Quote Originally Posted by john View Post
    I could agree with David Bank here if the facts did not get in the way of his projection. What I mean by that is, HOW MANY SUBS DID THEY GET IN THIS LAST QUARTER AGAIN??????? Thats right 582,000 (most of which came from OEM sales). Soooooooo, then what happen to SAC? when that huge number came in, it must have gone up huge, RIGHT??????? No it barely moved, when you consider that SAC has come down as much as 10 to 12 dollars over the last two years, 2 dollars is not that much for it to go up with them adding not only 582,000 subs but the actual number is alot higher when considering churn.
    And in addition to his big SAC . . consider this from the Wall Street Journal:

    "Companies often have tax losses. But experts say it is unusual that they are potentially a firm's most valuable asset, as with Sirius. The only asset that is comparable is the company's collection of radio wave spectrum licenses granted by the Federal Communications Commission valued at $2 billion, according to a Sirius securities filing. "That's uncommon that the [tax loss] would be ... the most valuable asset," said Robert Willens, who runs a corporate tax advisory firm."

    Yet even with his big SAC being exposed, David Bank makes no adjustment for the contributory value of NOL's.

    Go figure . . .

  9. #9
    john is offline
    Guru
    john's Avatar
    Joined: May 2008 Posts: 2,836
    Quote Originally Posted by Sirius Roadkill View Post
    And in addition to his big SAC . . consider this from the Wall Street Journal:

    "Companies often have tax losses. But experts say it is unusual that they are potentially a firm's most valuable asset, as with Sirius. The only asset that is comparable is the company's collection of radio wave spectrum licenses granted by the Federal Communications Commission valued at $2 billion, according to a Sirius securities filing. "That's uncommon that the [tax loss] would be ... the most valuable asset," said Robert Willens, who runs a corporate tax advisory firm."

    Yet even with his big SAC being exposed, David Bank makes no adjustment for the contributory value of NOL's.

    Go figure . . .

    The only reason they are valued so highly in SIRIXMs case is because most analyst see the profit is coming to a head and they will need those NOL's to keep its huge profits they see coming down the pike.


    I cant help but feel that SIRIXM is at that tipping point that Mel talk about ho so long ago (in a Jim Cramer show), Because the over head is stable that there will be a point when the new subscribers coming on board are at almost no real cost to the company and what you will see then is a big jump in the FCF to the company.

  10. #10
    Sirius Roadkill is offline
    Mentor
    Sirius Roadkill's Avatar
    Joined: Feb 2009 Posts: 1,882
    It looks like David Bank's big SAC is starting to effect his work . . .

    His $1.00 price target has already cost RBC clients an 11% return in a market where finding yield is challenging.

  11. Ad Fairy Senior Member
Page 1 of 2 12 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •