Weitz Stands by Citizens Communications
Manager of Weitz Partners Value Fund still likes telecom stocks.
Telecommunications stocks have been an industry laggard over the past year, with many of them down more than 70%. But famed value manager Wally Weitz sees potential in some of these firms. In an interview in this month's issue of Morningstar StockInvestor, the manager of Weitz Partners Value Fund (WPVLX) discusses two stocks he likes right now, Citizens Communications (CZN) and Qwest (Q). Weitz's fund is in the top 1% of all domestic-stock funds for the trailing five- and 10-year periods. Below is an excerpt from the interview.
Morningstar StockInvestor: You own some of the rural cell-phone companies. What do you like about them?
Mark Sellers does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.