My dumbest investment was in the Finnish telecom Nokia. I read in a well-respected investment newsletter that the company would soon be closing a deal to sell equipment in Russia. But the market crash of 2008 sent Nokia shares down deep. I kept hanging in there, but finally got disgusted and took the loss. It was too much of a hassle, waiting on a loser. I still wish them luck. — A.M., online
The Fool Responds: Nokia was once a titan in the smartphone arena, boasting more than half the global market in 2007. By 2013, though, its share had dropped to 2 percent. The 2008-2009 market crash was not its sole problem, though — its lunch was being eaten by Apple and Google’s Android system. While other companies’ stocks recovered after the market crash, Nokia’s stock kept dropping for some years. Nokia is still a significant smartphone name, but it’s no longer making its own devices. It sold its smartphone business to HMD Global (a company run by former Nokia executives) and is licensing its name, which appears on the phones. Never invest in a stock just because of rumors you’ve heard about it — and if it’s falling, be sure to do enough digging to find out whether its troubles seem temporary or lasting. Nokia still has believers today; they expect growth from deals with China-based companies and the rollout of new 5G networks.