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Burned by Cisco

A long position in Cisco looked like a hot trade but all it did was burn Tim Seymour. So what does he have to say about it now?

The Ambassador made the fateful call on November 11th, after the stock sold off on disappointing commentary from CEO John Chambers. Seymour liked the stock as a bet on strong fundamentals.

“At these levels, this is not a stock I fear owning,” he said. “In fact if it tests 19 I might have to think about buying more.”

Unfortunately, few investors shared Seymour’s conviction that Cisco was a buy on sound fundamentals. Since he said to get long, shares have slipped almost 5%.

So what does Seymour have to say about this stock now? Find out in this web extra. Watch the video now!


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Trader disclosure: On December 6, 2010, following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Seymour Owns (AAPL), (BX), (CSCO); Terranova Owns (OIH), (UPL), (C), (PEP), (VRTS), (AAPL), (GS), (OXY), (NKE), (CMA), (PFE); Terranova Owns (FCX), (FCX) Puts; Adami Owns (AGU), (C), (GS), (INTC), (BTU), (NUE), (MSFT)

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