Market Mad House

In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche

Nokia’s Revenue

Long IdeasStocksThe Death Spiral

Does Nokia Have a Future?

The big problem with this deal is obvious: Any money that Nokia will make off it comes from financial transactions, not Alcatel-Lucent’s actual business, which is losing money. Basically, Nokia is expanding its money-losing phone business by buying a money-losing telecom in order to put some cash in its bank account.

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