“Why Active Small Cap Value Investors Are Getting Hammered”
LBTYA valuation (4x EBITDA, <10x FCF) is too low relative to fundamentals; SpaceX threat is overstated by the market.
JCI Liberty, now called Liberty Capital, that's another company they have in Alaska with cable and wireless services. I'm sure people think that SpaceX might be a hindrance to this business, and it is indeed a contributing factor, but that's no reason why it trades at four times EBITDA and less than 10 times free cash flow, while SpaceX trades at thousands of times.