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Strategies & Market Trends : Value Investing

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To: Michael Burry who wrote (11092)	8/22/2000 4:28:45 PM
From: Freedom Fighter	Read Replies (1) of 78516

Mike, I'm new to looking at the telecommunications companies. However, that won't stop me from forming many immediate self-assured opinions :-). I think all the legacy companies may be in a bit of trouble (wcom, sprint, ATT). From what I've been reading Level 3, Qwest etc... and a few other "mostly fiber" companies will have a huge advantage in technology and cost structure over them in time. In Level 3's case, they are even in a terrific position for future growth because of the way they are building the network. For everyone else to catch up is going to require that they recognize that a whole bunch of their technology needs to be written down and replaced. That's both a huge admission and job. It's also going to require "huge" capital outlays. I think more than just the long distance business of the legacy companies is threatened. And I also think that perhaps the "new era" types have this one right. Although it's somehere between difficult and impossible to value, you can't come away from researching LVLT without thinking it's going to be mega-huge in 10 years. Wayne

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