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  • bjspokanimal bjspokanimal Dec 8, 2011 8:44 PM Flag

    Hesse Finally Gets it: Unlimited 100mb LTE

    ... that a company have have a ton of valuable assets and rock bottom book-per-share (and a much MORE rock-bottom liquidation-value-per-share) and still sell at a PPS that's obscenly low.

    My point with this analogy is that even if Sprint is a bargain per book value, keeps debt under $24 billion at under 9% and manages to grow subs reasonably well, Mr. Market can still pummel them if the fear is acute enough and competitive projections are lean. CLWR's valuation on sprint's books means little if he dialogue centers on crummy future margins or going concern issues.

    I don't mean this to be my view of sprint's future... just to say that you can have value up the ying-yang and still be in the toilet based on perceptions of future operational viability... Clearwire was a textbook example of that this year.

    I don't see ANYBODY in wireless as anything with bigtime upside. Margins will always be skinny because this industry has "utility-like" attributes. That will be the nemesis of anybody who thinks CLWR will be a $20 ro $25 stock... I can't see it.

    But I think Clearwire would be more appreciated as a company with prospects for reasonably positive EPS down the road than sprint would...

    ... because Clearwire's assets would be more appreciated if their going-concern prospects were alleviated than sprint's would.


4.74Mar 31 4:00 PMEDT