To bet (or not) on fallen giants

Last week, an internal presentation made at Nokia a few days after Steve Jobs launched the first iPhone leaked online. Much to everyone's (certainly mine) surprise, it turned out that Nokia's internal team was largely right about the massive existential threat that the iPhone posed to them. They weren't complacent, but somehow, that didn't help them. There's something deeply satisfying about backing a champion when they're down. Whether in sports or business, watching a proven winner navigate through tough times and emerge stronger speaks to our fundamental understanding of resilience. It's a pattern we've seen play out countless times in the markets, yet one that investors often struggle to capitalise on. The current market correction has presented us with precisely such an opportunity where several market leade