Portfolio Update: Verizon, SBC and AOL Time Warner

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Portfolio Update: Verizon, SBC and AOL Time Warner

Special Issue: Friday, July 19, 2002

Portfolio Update: Verizon, SBC and AOL Time Warner

The service providers' selloff has transpired just about as expected, with Verizon (VZ:NYSE), SBC (SBC:NYSE), ITXC (ITXC:Nasdaq) and especially AOL Time Warner (AOL:NYSE) all getting slaughtered in the past few weeks.

While the market punishes the very companies that will ultimately thrive as we complete the winnowing process, I want to step in and build up these positions further. I've been keeping cash on the sidelines for exactly that reason, and now, as the selloff continues to push prices lower, I'm going to put some of this cash to work.

As such, I'm going to pick up $20,000 of AOL and another $10,000 each of SBC and Verizon, all at today's closing prices.

ITXC is already my largest position, and I don't want to add more just yet. While its most recent quarter was likely strong (we'll find out July 24), I don't think we'll see any catalysts to move this stock much higher from here just yet. If it sells off much more, though, I'll be looking to buy.

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Special Issue: Friday, July 19, 2002

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Cody Willard is a telecommunications industry analyst and consultant and a contributor to , the premium subscription site of . Mr. Willard's past results are not necessarily indicative of future performance. is a publisher, and is not registered as a securities broker-dealer or an investment adviser either with the U.S. Securities and Exchange Commission or with any state securities regulatory authority. Mr. Willard, although in the process of registering as an investment adviser representative in the state of Texas, is not now engaged in, and does not intend to engage in, any broker dealer or investment adviser activities.

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