10 Questions With Ivan Arteaga, Manager of Gabelli's Telecom Fund

Investors who still have their money in telecom stocks most likely have very strong stomachs.

After all, the recent meltdown at WorldCom (WCOM Quote) and debt concerns at companies like Qwest (Q Quote) and Nortel (NT Quote) have flushed so much cash out of the sector.

For some ideas on how to navigate the turbulent landscape today, we talked to Ivan Arteaga, who has managed Gabelli's telecom fund since 1994. So far this year, Artega's fund is down 34.96%. But it is doing better than 74% of its peers. As a practice, the fund manager avoids telecom equipment stocks in favor of phone service names. And he keeps a focus on valuations and fundamentals in the business. ...