Mea Culpa on AT&T, but the Upside Remains Real

In late August, I wrote a bullish piece on AT&T (T Quote). Since then, the stock has fallen from $31.75, bottomed at $21.25 and clawed its way back to the $27-$28 range. There is no getting around the fact that if you had bought T back then, you would be sitting today with a 13% paper loss. Big help.

Telephone Tumbles It's been a rough year for AT&T and its shareholders

I could blame the decline on the general selloff in the stock market. I could attribute it to the even more severe decline in telecommunications shares caused by the increasing glut of telecom and broadband networks. Or I could blame T's slide on tax-loss selling by big fund complexes. ...