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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Michael Burry who wrote (11092)	8/21/2000 5:53:33 PM
From: Madharry	Read Replies (2) \| Respond to of 78513

To me and I could be completely wrong- T was really backed into a corner. It had to buy TCI because that was the only way it could survive. Its long distance business was going into the toilet and what else did it have. At least now it has a chance to survive. Whether or not this will be good for shareholders it is hard to figure. One thing that bothers me is that ATHM is now selling for about $14 and T has committed to buying out some major shareholders for $48 a share at their option. I do not understand why it did that deal. I have also read that athm is starting to reduce its charges in different areas to encourage installation. I would think it will be difficult all the way around to figure what the cost of service and revenues 10-20 years down the road will be and what inroads will wireless have on t's cable business. wireless is being valued at $5,000 a subscriber- seems rich to me BWDIK. For now I keep liking ALSC, CEGE, MRVC, LDP, ASYT. and hope that some of my turnarounds turn around. Oddly enough EGRP is showing up for me as a technical buy. I have been watching it ever since someone recommended it in Barrons in the 20s a couple of months ago. Does anyone follow it?

To: Michael Burry who wrote (11092)	8/22/2000 4:28:45 PM
From: Freedom Fighter	Read Replies (1) \| Respond to of 78513

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