$NOK Tocqueville Fund's Robert Kleinschmidt O

“It's a three-dollar stock. It’s a $12 billion market capitalization. On the sum-of-the-parts basis, you’ve got about five billion or so in net cash, and you’ve got about six billion present discounted value of a royalty stream that they have through their patent portfolio, and then you’ve got maybe another couple billion or so in their joint venture with Siemens, so the point is, if you buy Nokia, you’re paying really nothing or next to nothing for their phone business which is what everybody knows them for."

"Their smart phone business is really more or less a joint venture with Microsoft and then Microsoft provides the software… And if that can be successful, and there are some reasons to believe that it can, not least of which because the phone market shares have bounced all over the place over the last many years, this is like having a warrant on Microsoft’s operating system and when you can buy a company like Nokia and not pay anything for its basic business, you’re not really risking a lot, and maybe you can make a lot of money." Less

http://finance.yahoo.com/mbview/threadview/;_...8b3b7718a7