Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Nokia, Allied Irish and National bank of greece two daunting tasks and a sure winner.

|Includes:Nokia Corporation (NOK)

          When a person decides to enter the stock market for the pure and simple reason to chase value it can be a challenging task.  Being a student of value stocks means using certain rules for investing.  The first being if there is a market leader that is undervalued, always buy that stock.  One stock today which is undervalued by a yet to be determined amount is Nokia.  Provided that they are not that well know in America, the rest of the world sure knows about Nokia.  Nokia will do well in 2011 provided that the European woes are going to be gradually worked out through the introduction of common Euro-bonds and other methods to help provide a more stable Euro-zone to compete with American T-bills.  Nokia is a true and sure winner which is currently being undervalued.  Next a risky bet.
          Allied Irish Bank is a bank with history dating back to the 1960's when it was a locals only business.  Since expanding to meet world market demands it has seen it's ups and downs, and recently only it's downs.  While doing research to find what the Irish government paid to keep this bank afloat I noticed that the Irish government didn't pay a whole lot for the shares of this company.  Originally this made the case for a stock which will eventually be shorted into the ground and diminish all shareholder value.  But after looking closer I noticed that this might not be the case.  What may happen is other banks in Ireland will be kicked to the pasture while AIB and IRE reap the reward of what the other banks are worth.  Noticing this made me think about investing.  We all like to find those stocks which what the street calls multibaggers.  AIB has that possibility.  Speaking of Multibagging brings me to the next topic to write about. 
         National bank of Greece is quite an old bank with ties to many other European countries that are not in as bad shape as the country of Greece.  The adage is buy when there is fear in the streets.  This is a prime example of a stock that literally has people in the street with fear and uncertainty.  Greece's problems do not stem from a lazy work ethic.  Instead they come from a corrupt government that has funneled much money away from the national debt into there own pockets.  Greece is where investing was born, and in a sense this makes NBG a safe gamble.  This being said recently this stock twisted me the wrong way and I sold at market bottom.  Only to purchase shares back the next day for slightly more.  This is not something I usually do, and is something I will indeed remember and learn from. 
The whole European fiasco is one that will continue to unfold for all of 2011 and then indefinitely into the future, hopefully before a solution is made people will stop rioting so much.
Hopefully at least one person enjoyed reading this.  If not then please tell me why.  Best Luck...  Long and also (possibly) short all the stocks mentioned in this article.

Stephen McCallum

Disclosure: I am long NBG, NOK, AIB.

Additional disclosure: Long all stocks mentioned in this article.