I feel like I’m having a case of the Fridays, but does this telecom company actually mine and distribute coal as well? why would they ever get into those two, no where close to complementary businesses?
Subsidiary of Peter Kiewit
I remember this, http://www.marketwatch.com/story/buffett-investment-helps-lift-level-3-shares-by-50 http://books.google.ca/books?id=_FP1mrTYq1cC&pg=PA115&lpg=PA115&dq=level+3+communications+pabrai&source=bl&ots=7O8BZVfDwh&sig=Qa0F0eP-C-3DpnHtlM2NVB1OlGM&hl=en&ei=tUZzSv_xKMjclAfyiZHiCg&sa=X&oi=book_result&ct=result&resnum=2#v=onepage&q=level%203%20communications%20pabrai&f=false
In early May, its long-term EPS estimate was 4% … Now it’s 3.5% Any speculation as to what brought about the change in sentiment?
faster than expected revenue erosion? i’m reading goldie’s recent report and that makes sense as they won’t be able to cut expenses at the same rate as revenues are dropping as its a capital intensive business. when the dust settles even if the expense and revenue growth rates are the same, for the model’s sake, revenues will have already dropped more than expenses. i only see dcf growth rates though. has this company ever been expected to be profitable at any point in time?