Monday, August 07, 2006

Loaded More Nortel Shares

I bought another 320 shares of Nortel Network, at $1.99, with some dividend money accumulated in my Scottrade account. This brings the totoal number of shares I owned to 2720. Since early 2002, I have been on and off with NT several times and when I first bought NT in 2002, the shares were traded below one dollar.

Before the addition of these 320 shares, I have seen a loss of nearly 60% of my NT share values. More than four years have past since I first became a NT shareholder and the stock doesn't seem to go any where in the near term, though a slight hope has emerged after the recent alliance with Microsoft.

Though NT was nothing but disappointment for the past couple of years, I plan to hold NT a little longer (at least till the end of this year) to see if there is any improvement of the fundamentals after some steps the company has taken recently.

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