David Cockfield
Nortel AS
NTEL-T
DON'T BUY
Aug 18, 2005
Some earnings have come through and on a technical basis it was looking a lot better. There might be some real resistance around $4. Doesn't consider it an investment stock. Doesn't buy it, but continually inherits it as new portfolios come in. Would sell at $4. Not sure that they will avoid litigation related to past events.
If you own the stock, you are playing that there is some value in the assets they own. The company is not a going concern. Have a huge deficit hole in their pension plan. Individual parts of the company may be better being sold off.