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.
My Top Pick is….Nortel. Say What?