Biggest Turkey Of All Times

By M, December 2, 2019

For those of us who have been around for decades, the biggest dollar turkey for last year has to be Nokia. I subscribe to numerous investment newsletters looking for bright ideas. ALL of my sources gave reassuring recommendations regarding this stock. Not having a better thought and having some temporary cash available, I bought this stock thinking that I might make a modest trade in a rising market without taking my time to do my own analysis. The result was a loss of 32%, one of my largest percentage losses in 50 years of investments.
So what really went wrong? If I had looked more closely, I would have found that the company had been managed poorly for many years with periods of both high performance and disastrous results with repeated examples of missed forecasts. None of the ”highly recognized” services to which I subscribe called attention to this important factor as a related risk. Since I did not do my own homework, am a professional, a CFA and know better, I deserve the loss I experienced. Fortunately. following the principal of diversification, my loss was relatively small. On the other hand, I am sure that the losses to the public has to be in the millions due to the wide scale of the recommendations that went out from well respected investment services.

MHE

thankfully, since I have a diversified portfolio the dollar loss was relatively small.
However, Chartered Financial Analysts are ethically

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Travis Johnson, Stock Gumshoe
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I hear you, Nokia (NOK) was a substantial (20%+) loser for me as well — a case of a great story and a strong product lineup that should have been in the right place at the right time, with political tailwinds… but still failed. There’ still a decent chance for the company if they can get their 5G products selling as expected, I imagine, but I lost any confidence in the CEO after it became clear that his optimistic statements and reassurances earlier in the year were based on hope, not reality.