June 23, 2012
In today's edition of "Talking Stocks," analyst Austin Smith cautions against chasing one unusually high dividend stock: Nokia. The company recently crossed the 10% yield barrier and may be tempting for the income-seeking investor. But chasing this monster yield is a portfolio kiss of death. Nokia recently announced huge job cuts and plans to sell some of its best assets -- patents. Don't be fooled by the news. This isn't a strategic shift to put more money in its hands and create a leaner organization going forward; it's pure survival. This is one big dividend you want to stay away from.
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