Berkshire Hathaway's Siriusly Loves Sirius XM... Why?

Berkshire Hathaway continues to buy shares of Sirius XM stock.

But why is he so obsessed with this stock?

• Subscription based revenue

  • 76% of revenue comes from recurring revenue

  • Revenue is ACTUALLY going up over the long term

    • https://www.flankinvesting.com/company/SIRI/research/business-growing

    • 8% CAGR of the past 9 years, 9.2% CAGR over the past 5 years

• High margin business

  • Operating margin 22.6%, down -5.4% CAGR past 5 years

• Incredibly attractive valuation

  • Current trading 8x earnings.

I'd need to study more to see if they have any route to grow revenue. I don't see how internet based music doesn't completely displace Sirius over the longterm

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