Twas seven-years ago today that the man who calls himself "Canada's foremost personal finance source" told his readers to 'buy' when in fact they should have 'sold.'
Nov. 27, 2000 — Nortel opens at $61.10: "If you own Nortel, or a mutual fund holding it, don't bail out now. We are near, but not at, the low point. If you do not own Nortel, then this is the time to start accumulating it...." — Garth Turner
So what was Turner's response to those who followed his foolish advice?
April 14, 2002 — Nortel opens Friday at $5.35: "I am constantly amazed at the assumption people make that they can manage their own finances…most people can't. They don't have a clue how to pick stocks..." — Garth Turner
Nov. 27, 2007: Nortel opens at $16.70
On a separate note, we hear through our industry sources that both Bre-X and Enron are great, safe buys. Happy investing.
Nortel Chart: November 27, 2000 - November 26, 2007, TSX.
