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An Opportunity for Patient Investors - Barron's

10x current earnings is good value. But when the future 3 quarters income drops 20% each quarter, the good 10x value becomes a very not-so-good 17.3x earnings. And nobody knows when the bleeding will stop. There's no recovery hope in sight for all of 2009 now. Visions of 2011-12 recovery are looking increasingly realistic. S&P500 may well hit 400 before then.

Nokia: Bargain of a Lifetime - Barron's

Nokia might be reasonable value in euros but with $ there's a massive currency risk included. Nokia's climb in NYSE has been mostly on EUR over USD advancement in the past 2 years. If and when US gets back on its feet watch Nokia slide steeply down on dollar terms.

I agree on the view on Asian manufacturers, they're quietly grabbing massive market share while Nokia struggles in the headlines. LG and Samsung are the new ho