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Technology Stocks : (LVLT) - Level 3 Communications -- Ignore unavailable to you. Want to Upgrade?

To: Jesica Dawnet who wrote (3297)	8/15/2002 11:19:01 AM
From: Zoro	Read Replies (4) \| Respond to of 3873

Jesica: I have owned several hundred shares from the early days, and am obviously losing thousands at this point. In addition, I've got a bunch of Legg Mason Special Investments where Bill Miller has made a big play in both the common and preferred. I don't claim to have any information at all about the current state of LVLT, and in fact I do appreciate your updates. You obviously hate this stock and think it should be at 0. You may well be right. It seems to me that if LVLT cannot meet its covenants, or runs short of cash, it will have no choice but to reorganize or liquidate. On the other hand, if it can meet its covenants, and it does not run out of cash, it stands to be the 800 pound guerilla in the telecom world. There is no doubt that telecom will sooner or later recover. The issue is who will be the "last man standing" until that time. It is entirely possible that no one will, and that scavengers will pick up valuable (and presently overbuilt) assets for pennies on the dollar. My crystal ball says I might as well hold, since I won't be able to use another capital loss for more years than I care to think about anyway. Please keep your updates coming.