Ot - networking - can't cut and paste the link but - interesting ZD Net story on 'oversubscription' on 4G/LTE networks - while what's inside your phone will get fancier and more powerful, 4g networks are way too crowded - in some metropolitan areas, you may be paying for 20, 30, 40 Mbps, but only getting 1-3 at the worst times of the day. 5g not appearing until 2018, and not being widely implemented arond around 2020, is going to be a problem. I think it speaks about technical 'enhancers' to current networks, as well as the annoying ways in which telecoms deal with it currently - eg. 'throttling' customer speeds, already having nullified grandfathered 'unlimited data' plans, etc. 

Not sure how that affects the capex of telecoms and other bandwidth users until we do get to 5g - whether there will be 'work-around' solutions until 5g appears, or whether the same old 'delaying' policies will continue to be followed. Regardless, I'd think it's an example of how the whole sector is  in for secular growth.

A little hard for me to wrap my head around that my portfolio is perhaps 60% in optical networkers - between NOK, INFN, CIEN. And yes, as a partial dividend play, I'd like to start a CSCO position.