New York, Feb. 20 (Bloomberg) NOKIA OYJ, ORACLE CORP., and CISCO SYSTEMS INC. are among the 10 stocks recommended by money managers to hold through the decade, the New York Times reported.
Oracle, Nokia Among Money Managers' Top Picks Through 2010
By Anupy Singla
New York, Feb. 20 (Bloomberg) -- Oracle Corp., Nokia Oyj and
Cisco Systems Inc. are among the 10 stocks recommended by money
managers to hold through the decade, the New York Times reported.
The paper interviewed ten money managers, each of whom named
the stock he or she would hold through the year 2010. The stocks
are varied, ranging from software and technology to media, medical
and apparel firms.
Oracle, the No. 1 maker of database software, is ``morphing
into the software company of the Internet,' John Ballen, chief
investment officer at MFS Investment Management Inc., told the
paper. ``And that is going to be a place you want to be for the
next 10 years.'
Cellular telephone-maker Nokia has ``stayed well ahead of the
curve in telecommunications and cell phones,' said Laszlo
Birinyi, president of Birinyi Associates Inc. ``These people have
the ability to come out with new products.'
Liz Ann Sonder, a managing director with Campbell,
Cowperthwait & Co., said shares of fiber-optics products maker JDS
Uniphase Corp. could benefit because the fiber optic component
business is expected to quadruple in size over the next three
years. ``It is the marriage of a great company and great
management with great industry fundamentals,' Sonder told the
paper.
Singapore-based Flextronics International Ltd., a contract
manufacturer of cell phones and circuit boards, is the
``Manufacturing Inc. for the technology world,' said Roger
McNamee, general partner at Integral Capital Partners.
Internet equipment-maker Cisco Systems Inc. has made 50
acquisitions since 1993 in areas relevant to its business, said
Robert Turner, chairman of Turner Investment Partners. ``That
shows to me they are paying attention to where the market is
going.'
Zee Telefilms Ltd., India's most popular television
broadcaster, is ``one of the best ways to play India as a consumer
force,' said Justin Thomson of T. Rowe Price Associates Inc. He
said the company will benefit from advertising spent in that
market, and is well positioned in several areas including the
Internet.
``We need more and more dental care, not only in the U.S. but
worldwide,' said Bill Nasgovitz of Heartland Value Fund who
picked Henry Schein Inc., a global distributor of dental and
health car supplies. Revenue could increase by 15 percent annually
through the decade, Nasgovitz said.
George Mairs, president of Mairs & Power Inc., chose medical
device company Medtronic Inc., the fund's second-largest holding.
``They have an exceedingly strong franchise -- one that is so
strong that they have added to their product line by buying other
companies,' Mairs said.
Waste Management Inc. is a top choice of Bill Miller of Legg
Mason Inc., who says the company has a good business model and no
Internet, currency or technological risk.
Jones Apparel Group Inc. is a ``well-run company,' said
Ralph Wanger, manager of the Acorn Fund. ``I think women will be
wearing clothing 10 years from now, and Jones Apparel will be
making their fair share of those clothes.'
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