LICT - Alluvial Capital Management - LICT Corporation
The following segment was excerpted from this fund letter.
Our second-largest telco holding, LICT Corporation, continues to report excellent operating results. The company has an advantage over other rural telcos: geography. In years past, LICT had the luck or the foresight to buy telcos in areas with growing populations and healthy local economies.
While the annual effect is small, it adds up over time. Consider two different areas with the same population: one having a population growing at 1% annually, and the other having a population doing the opposite and shrinking 1%. In a