A THING OF BEAUTY

Jimmy "Guru" Cramer out last night on mad money with yet another plug for LVLT calling it his favorite and a thing of beauty. Since he recommended it on RM on October 27, the stock is up about twenty cents to $5.61.

Far be it for me to criticize a guru like Cramer but I did check the Balance Sheet of LVLT as of June 30, 2006 and it is NOT a thing of beauty. Current assets $3.2 Billion, PPE of $5.5B and Liabilities of about 9 Billion, zero shareholders equity and a market cap of 6.5 B. No doubt the PPE is worth more than the 5.5 B as this is the "depreciated number" but most of it was no doubt bought back in the gogo day of 1999 and Y2k. This is his favorite- I wanna hear his worst.

Keep in mind his other two favorite plays, ARNA at $15.41 and Q at $8.61. Current quotes $13.46 and $7.56 respectively- unless of course you were stopped out earlier.