RE:RE:RE:Investment Thesis?babybunny wrote: Thanks Milhouse, that is exactly the kind of feedback I was hoping for.
I am still skeptical about a company that emphasizes "free" cash flow when it really isn't free. As you noted regarding 5G, they have to keep investing like madmen just to keep up with the Joneses (or the Rogerses). The kinds of companies I am most drawn to seem to be able to fully depreciate their equipment, then keep using it for many years afterward.
That being said, I will take a closer look at the business and the financials as I would love to buy some of these classic Candian oligopolies at the right price (i.e., at a modest premium to book value).
Cheers
WRT the 5G buildout, there should be a bit of a lull in terms of heavy capex spending from 2025 to about the early/mid 2030's when the spend will slowly start ramping up again to deploy 6G. There will still be some 5G capex spend to deploy in new greenfield areas and make further enhancements like 5G+ but the amount will pale in comparison to the initial buildout and spectrum purchases. The lull until 6G will be a sweet spot IMO.
I also love buying the classic Canadian oligopolies with big moats!