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Strategies & Market Trends : Value Investing
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To: voodooist who wrote (38478)7/9/2010 7:45:49 PM
From: E_K_S  Read Replies (2) of 78747
 
Hi Voodooist -

RE: Nokia Corporation (NOK)

I have been in the position with my earliest buy in 2003 at $12.70/share. I have added shares in the $12.00/share range with my last add in January 26, 2010. So far it's been a looser except for the dividend. Everybody has written them off over Apple but NOK continues to hold a 30% market share for mobile phones (not smart phones) in the world. They have been late (and continue to slip) with releasing a smart phone on any competitive level with the other smart phone developers.

Based on the value proposition, NOK definitely meets this criteria. Their forward PE is 9.6 and they only have $2.00/share debt and generate a $1.00/share cash flow.

I like their joint ventures with Siemens where they build the wireless infrastructure systems that include the base stations and all the other electronics to operate a wireless network. They have projects going on in China any other 3rd world locations. They do not make too much money with these systems but it helps them sell the handsets with the telco partners that run the wireless networks.

I noticed that Jurgis mentioned NOK in his last stock list update. I am not sure if he still maintains his position. I probably should look at averaging down at current levels but I also own positions in Siemens, MOT, Intel, MSFT (w/ their Mobile 7 OS) which also participate in this sector.

Based on value, NOK is probably the best buy in my group. I am under water on my current holdings but was able to sell a lot of my old shares around $28.00/share in 2007. Don't write off NOK too soon as they always seem to recover at least since I have been investing in the company starting in the late 1990's. You just have to know when to sell your shares and when to load up your inventory again. At the $8.00/share level, it just might be that time to load up your inventory.

EKS
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