My Top Pick is….Nortel. Say What?

It’s not often you come across a fund manager who has Nortel has his/her top pick but Robert Callander, a portfolo manager with Caldwell Securities Ltd., appears to be the exception to the rule. Mr. Callander, who ranks Nortel as a “buy”, told the Globe & Mail he was encouraged by the company’s recent stock consolidation, which he sees as the final sign of a recovery. Callander’s also excited by Nortel’s cost-cutting program and the recent $2-billion contract with Verizon Wireless. “When you start to get wins with the biggest in the industry, other people stand up and take notice,” he said.

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One Response to “My Top Pick is….Nortel. Say What?”

  1. Bill Ritchie Says:

    Bill Ritchie Says:

    January 20th, 2007 at 10:53 pm
    After further inquiries with Mike Z and discussions with Nortel’s investors division, it appears they are NOT going to compensate any shareholder, period.
    Their policy appears to be to ignore all investors who “hung in there” hoping the “old” stock value would come back ’some day’ forget it, it’s not happening. The reverse split of 1 for 10 put a stop to that–BIG TIME.
    If you did not participate in the two class action settlements that expired on November 20th 2006 then you qualify for this new suit.
    We need to know how many (pre Dec 1st 06)shares you hold and at what price you paid for them. If the average paid is below say, $8. then it may not be in your best interest to participate. It’s possible that the stock “might” climb to $80. some day!
    Looking forward to receiving your information–type Nortel 1 for 10 in the subject of your e-mail.
    Bill Ritchie.
    cwritchie@cogeco.ca

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