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  • How To Avoid The Margin Of Safety Trap [View article]
    Focus your investment efforts on owning productive businesses that have the ability to compound their intrinsic values over time.

    Find opportunities with economic advantages likely to increase the companies intrinsic value over time, and cheap enough to ensure efficient use of an investor’s hard earned capital. Put another way; be businesslike in your approach

    Thank you.
    Nov 1 02:00 PM | Likes Like |Link to Comment
  • What Will Amazon.com Do Next? [View article]
    "I would think taking out Level 3 (LVLT) would give it better a better shot at leveling the Internet cost playing field with Google (GOOG)."

    Dana would you please write some more on the possible merger of Level 3 (LVLT) and Amazon (AMZN)?
    Sep 30 05:09 PM | Likes Like |Link to Comment
  • Will Level 3 Communications Regain Its Past Glory? [View article]
    LVLT is just killing & buying time until the rest of the world gets it's act together and implements streaming live HD video over the internet. The Level 3 network was built to scale unlimited bandwidth delivered to any screen/devise. What we have today is a micky mouse last mile network that needs to be updated to accommodate the master backbone of the internet world - LVLT.

    Level 3 is light years ahead of everyone, but it had to be that way because, if we had to wait for the legacy at&t to get the job done it would NEVER happen!

    Do you want live streaming HD video on any of your screen devices? Any time any where? Well, let Level 3 Communications do it's job! We can deliver UNLIMITED bandwidth to the end user.

    Level 3 is only in the CDN space as a kind of hobby until it can SCALE it's backbone to meet the unending demand for bandwidth/content over the internet world wide.
    Aug 18 05:28 AM | Likes Like |Link to Comment
  • Will Level 3 Communications Regain Its Past Glory? [View article]
    CarlK,

    Your comments are precisely what is going on with Level 3. As far as going private that sounds good to stop the manipulation of the share price, but will it happen..... What is needed for earnings to grow, is the internet ecosystem needs to be completed to allow high quality live streaming HD video to become a common every day occurrence. LVLT was built specifically to deliver just that, not this rinky dink loading of web pages & voice - petty bandwidth stuff. Level 3 is only running on 3 cylinders, we will never see double digit earnings growth until live streaming HD video kicks into gear. The LVLT V8 Machine is revved up and waiting to burn rubber and kill those criminals at the finish line.
    Aug 17 06:40 PM | Likes Like |Link to Comment
  • 4 Stocks to Own in Sickness and in Health [View article]
    Level 3 Communications needs all the bandwidth throughput it can get and the below named company can help:

    Level 3's Dream ComeTrue - For Unlimited Bandwidth Throughput to the End User

    FreeBand -- the Internet's first "1-800" application platform to connect the unconnected.

    Box Top's mission is to bring free broadband - FreeBand - to households globally by enabling an open and rich ecosystem whereby application providers subsidize the cost of residential broadband by directly reimbursing the broadband carrier for residential connectivity.

    www.boxtop.tv/index.htm
    Aug 15 04:33 PM | Likes Like |Link to Comment
  • Cisco's Second Chance at a First Impression [View article]
    CarlK,

    Are you referring to O, Masons Hawkins ( the largest shareholder of LVLT ) comments?

    **********************...
    LONGLEAF PARTNERS FUNDS
    ANNUAL REPORT
    at December 31,2010

    Negative returns at Level 3 and Dell detracted from 2010 performance. Level 3 fell 36% for the year but had a 5% gain in the fourth quarter following news of becoming a primary carrier for Netflix. Because of the 60+% contribution margin from additional
    revenues, the growing demand for internet video should add meaningful free cash flow over time. The company has been slower to deliver growth than projected, particularly in the metro business. The short-term cost of hiring and training new sales
    people has impacted costs but not yet revenues. The transition time from orders to revenues in wireless backhaul has expanded because newer products demand more set-up time, and carriers are taking longer to connect. At this point success depends on
    revenue growth. Major debt maturities are three years away. Given that the cost to build the network was over $25 billion and that today’s enterprise value (debt + equity) is less than $8 billion, the company’s assets are severely discounted with several possible rewarding eventualities. As we said earlier in the year, we are neither oblivious nor idle regarding Level 3’s results and stock performance.
    Aug 13 08:40 AM | Likes Like |Link to Comment
  • 4 Stocks That Touched Bottom Are Poised to Go Higher [View article]
    This is the catalyst that will move LVLT higher.

    Level 3's Dream ComeTrue - For Unlimited Bandwidth Throughput to the End User.

    Box Top's mission is to bring free broadband - FreeBand - to households globally by enabling an open and rich ecosystem whereby application providers subsidize the cost of residential broadband by directly reimbursing the broadband carrier for residential connectivity.

    Our team of engineers and broadband specialists utilize the patent-pending FreeBand Platform to allow the development of web applications for virtually any service including commerce, health care, job boards, education, entertainment, government and community programs, and much, much more (see "Why Freeband Now" for more info). By using the FreeBand Platform, the application providers are able to subsidize the bandwidth consumed by the user of the application. The FreeBand Platform is the market's first scalable and commercially sustainable solution for providing toll free Internet connectivity (just like a "1-800" number on your voice line).

    Based in Silicon Valley, Box Top is owned and operated by its employees and along with its silicon and software partners, is committed to delivering free broadband to anyone who wants it - and along the way closing the digital divide once and for all using free market forces - not tax payer dollars.

    www.boxtop.tv/index.htm
    Aug 13 08:32 AM | Likes Like |Link to Comment
  • Cisco's Second Chance at a First Impression [View article]
    CarlK,

    You must be referring to O.Mason Hawkins (largest shareholder of LVLT) comments last year.

    **********************

    LONGLEAF PARTNERS FUNDS
    ANNUAL REPORT
    at December 31,2010

    Negative returns at Level 3 and Dell detracted from 2010 performance. Level 3 fell 36% for the year but had a 5% gain in the fourth quarter following news of becoming a primary carrier for Netflix. Because of the 60+% contribution margin from additional revenues, the growing demand for internet video should add meaningful free cash flow over time. The company has been slower to deliver growth than projected, particularly in the metro business. The short-term cost of hiring and training new sales people has impacted costs but not yet revenues. The transition time from orders to revenues in wireless backhaul has expanded because newer products demand more set-up time, and carriers are taking longer to connect. At this point success depends on revenue growth. Major debt maturities are three years away. Given that the cost to build the network was over $25 billion and that today’s enterprise value (debt + equity) is less than $8 billion, the company’s assets are severely discounted with several possible rewarding eventualities. As we said earlier in the year, we are neither oblivious nor idle regarding Level 3’s results and stock performance.
    Aug 12 01:40 AM | Likes Like |Link to Comment
  • Cisco's Second Chance at a First Impression [View article]
    Cisco CEO John Chambers, reliability doesn't come easy, there is a price to pay. Do we hear at least $8.00 a share for this network hero ...... my friend?

    "Article worth sharing from our friends over at Level 3."

    It looks like Cisco may be interested in splicing into the Level 3 backbone via a merger to deliver the experience of content that LVLT can provide.

    Straight from the horse's mouth.

    blogs.cisco.com/tag/le.../

    Level (3) Communications - The Network Partner You Can Rely On
    Aug 11 03:53 AM | Likes Like |Link to Comment
  • Cisco's Second Chance at a First Impression [View article]
    CarlK,

    You make an excellent point, that Level 3 Communications is not a "Dead Telecom Man Walking" stock. However, LVLT is helping to bring back the dead with the amalgamation of Global Crossing.

    And the majority shareholders (Singapore Technologies Telemedia) of Global Crossing are shrewd investors who like to "invest & grow".

    Maybe, they will encourage SEAM, O. Mason Hawkins, and Fairfax, Prem Watsa to grow this internet backbone by investing in a buy out/take over.

    CarlK the $8.00 starting bid sounds good to me!
    Aug 10 05:44 PM | Likes Like |Link to Comment
  • Level 3 Communications Continues to March Towards $3.00 [View article]
    CarlK, So very true, we at the mercy of "Mr, Market when it comes to price. That is his domain. However, we can take advantage of manic depressive price swings that are out of whack compared to what the true intrinsic value of Level 3 is. This is our only hope of beating him at his own game. Buying with a "Margin of Safety", is the only hope of winning in the end!

    My bet is: I think the intrinsic value of LVLT is at least $8, so if my cost basis is well below $2, to me that is the equivalent of buying dollars bills for 25 cents. I'm willing to wait a long time until the value is recognized, if that's what it takes to make my first million. All I can do is wait like a passive stooge, hoping all along that the management that Warren Buffett and Charlie Munger likes, will do what is in the best interest of Level 3 shareholders.
    Jul 9 05:09 PM | Likes Like |Link to Comment
  • Level 3 Communications Continues to March Towards $3.00 [View article]
    LONGLEAF PARTNERS FUNDS
    SEMI-ANNUAL REPORT
    at June 30,2002


    Partners Fund - MANAGEMENT DISCUSSION
    by Mason Hawkins, Staley Cates, and John Buford

    After the close of the quarter, the Partners Fund, together with Berkshire
    Hathaway, Legg Mason, and Longleaf Partners Small-Cap Fund, completed a
    private placement in Level 3 convertible notes. Although typically we neither
    own corporate bonds nor do private placements, this was a compelling opportunity
    that the Fund's flexible policies allowed us to pursue and that we did not
    want to forego. The ten-year notes position Longleaf ahead of the common
    equity, pay a 9% cash coupon, and are convertible at any time to common equity
    at $3.41 per share - a price that is under the stock's current level, and is far
    below the company's growing intrinsic value.

    Level 3 owns the best fiber telecommunications network in the industry.
    Importantly, most of its competitors struggle with huge debt levels and further
    significant capital expenditure requirements. Many are now in bankruptcy.
    Customers are universally worried about their service providers' reliability,
    financial integrity, and ability to provision future needs. Level 3's superior
    network infrastructure, its servicing capabilities, and its capital resources position
    the company to become the clear industry winner. As we said in the press release
    announcing the placement, We invested in Level 3 to take advantage of
    consolidation opportunities in the telecommunications arena. We believe these
    opportunities are substantial. Level 3 is uniquely and competitively positioned,
    and its management team, led by Jim Crowe, is most able.
    Jul 9 03:34 AM | 1 Like Like |Link to Comment
  • Level 3 Communications Continues to March Towards $3.00 [View article]
    Comment made by Warren Buffett in 2002 in regards to Level 3 Communications.

    "Liquid resources and strong financial backing are scarce and valuable assets in today's telecommunications world," said Buffett in a
    prepared statement at the time of the investment. "Level 3 has both. Coupled with the management of Walter Scott and Jim Crowe, in
    whom I have great confidence, Level 3 is well-equipped to seize important opportunities that are likely to develop in the communications
    industry."

    www.cwalocal4250.org/n...
    (Page 5)

    James Crowe CEO has said numerous times that money is not a problem for Level 3. And that there is a lot of money interested in sponsoring consolidation in the long haul business.
    Jul 9 03:27 AM | Likes Like |Link to Comment
  • Level 3 Communications Continues to March Towards $3.00 [View article]
    Below are four great value investors who are large shareholder of Level (3) Communications. Apparently they think LVLT is a Good Company.

    1. O. Mason Hawkins - SOUTHEASTERN ASSET MANAGEMENT INC/TN/

    2. Prem Watsa - FAIRFAX FINANCIAL HOLDINGS LTD/ CAN

    3. John Griffin - Hedge fund Blue Ridge Capital

    4. Howard Marks - Oaktree Capital

    So let's review, Charles Munger likes the management of LVLT - Walter Scott.

    Great value investors love the company.
    Jul 9 02:50 AM | Likes Like |Link to Comment
  • Level 3 Communications Continues to March Towards $3.00 [View article]
    CarlK,

    Two out of three ain't bad, for a recommendation from Charlie Munger. - even through he didn't mention price. Speaking for myself that is already in the bag with a cost basis under $2.00.

    Value Investing principles 101

    Only buy companies that meet this criteria: (From Longleaf Partners Fund - The largest shareholder of LVLT)

    BUY DISCIPLINE - We look for good businesses, good people, and a good price. www.longleafpartners.c...

    1. Good Business

    2. Good People ( Munger likes management - Walter Scott )

    3. Good Price ( I love the price under $2.00, especially when it is worth conservatively between $8.00 - $10.00 )
    Jul 9 02:11 AM | Likes Like |Link to Comment
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