Verizon Fans Take Heart at High-Fiber Diet

The FCC spent the better part of the past decade loosening the Bells' monopolist grip on their local phone networks. So now, the prospect of handing those same companies another shot at a monopoly, only this time in the advanced digital services, is likely to be contentious.

The bulls say the industry is moving toward fiber, and as an investor, you just have to put down your money and hang on for a rough ride.

"In order to win you have to close your eyes, buy some exposure to the players now and patiently follow the progress because real earnings will be realized in this area in years, not quarters, from now," says one Connecticut money manager who asked not to be named.

But those who are considerably less bullish say the progress may be best measured in decades.

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