A spectacular three months reminds us of the mutual fund's boldness. This mutual fund has big potential, to fly and to flop. This fund has a good shot at being worth its risks--just don't put it at the heart of your portfolio. High fees and low returns have made these stock funds poor long-term performers. Level 3 LVLT continues to enjoy fantastic access to the capital markets despite continued negative cash flow and few signs of revenue growth over the near term. We remain skeptical of the firm's prospects and don't plan on changing our fair value estimate. Level 3 announced Tuesday that it will ...