Re: NOL Rights plan and potential acquisition of CTL
""""" Hell, if Berkshire could get the whole company and have a 10% cash return on his investment on a critical infrastructure type investment, I think Buffett would look at it like buying a railroad and would jump.""""""
Remember Munger has often joked about Buffett's patience. He studied the Rail Road business for decades and finally bought BNSF after the industry consolidated from 100 RR to three. Buffett often quoted no one has made any money in the airline business since the Kitty Hawk. After watching the industry consolidate for years, he buys into the Air line companies. Munger also joked about Buffett studying Silver for decades to one day buy a token share.
I am thinking about Zayo's CEO, Dan Carusso's comment shortly after CTL/LVLT merger. He said something to the effect of this is a significant merger for the industry and although it won't happen right away, he believed the industry would have pricing power in about two years after the merger closed. Has Telecom consolidated enough to have pricing power and would Buffett be interested now?
I don't remember the year any longer, but I had made my initial purchase in LVLT the Friday before the Fourth of July weekend many years ago at $2 & change. The following Monday, Buffett along with several others bought into LVLT. Soon there after, Buffett sold all of his LVLT and has been watching ever since. Unlike Buffett, like a dumb ass, I held mine through more than a decade of consolidation. It would only be fitting, for BUffett to put an exclamation point on his personal tutorial of "Timing is Everything". I don't have strong feelings on Buffett actually entering the space, but I would have to chuckle and chalk it up to "Instructional"!He never stops instructing and I never stop learning:)