Don VialouxNortel ASNTEL.TOPAST TOP PICKOct 17, 2006
(A Top Pick Oct 3/05. Down 33 %.) This would have been sold in January. Looking very interesting right now in that is trying to buy them and is forming a reverse head and shoulders pattern.
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.
Has about $4 per share in cash. They are thinking of selling an asset that would raise about another $1 billion, which would add another $2 per share in cash. However, the overall quality of the balance sheet is as bad as he has ever seen it. Speculative.