Q: Hi Peter&5i: I have for some time now owned American Tower (AMT), on the thesis that owning the wireless infrastructure that everyone has no choice but to use is apt to be a pretty good gig. Also it gave me exposure to the American dollar through what I considered to be a blue-chip US large-cap. Within the last few days however Carson Block/Muddy Waters (remember Sinoforest?) released an exposé style report on AMT, concluding that it was close to double its defensible valuation. What do you think? I have been using it as a cornerstone holding. Would you trim it back before seeing how things shake out? Thanks!!
