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For The First Time In 7 or 8 Years I Am No Longer An Apple (APPL) Shareholder. Do Not Trust Tim Crook.

Anura Guruge, June 8, 2013.RottenApple

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Anura Guruge


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No, I did not sell this morning when it was already down $25+.

I sold ten minutes into the announcement yesterday. I tried to time it and set a market limit. In the end I decided I was just going to pull the trigger rather than wait. I didn’t get the peak but I was within $3 of it.

i did not lose any money. I had bought this batch of AAPL shares in 2005 or 2006 when the price was below $75. I think I have told this story before. I had an 80(+) neighbor (in Gilford, on Varney Point), ex-FAA, WWII POW, named Milt Cram, who, quite rightly, prided himself as quite a stock picker — and he sure did pick them. He used to watch CNBC all day. Around 2005 (or 2006) he told me that he told one of his granddaughters that she should try and buy at least ONE share of AAPL. Got me thinking. I could afford more than one share, so I bought 100. Over the years I wrote a lot of options against that allocation. I also bought more … sold some … bought more. But, I basically rode it up from $75.

Last year I sold 57% of my holdings at around $620. My son, the new stock whiz, gave me grief that I should have sold it earlier. But, I have found to my cost that you can’t invest in hindsight.

I am done. There is no glory in holding AAPL anymore.

We are NOT Apple consumers or users. So, sod it.

Do not trust Tim Crook, he is cooking the books.

I haven’t done any stock picking in ages. My son, who is now in the process of trying to start a hedge fund, has sent me plenty of suggestions.

It was kind of funny, in a sad way, to watch AAPL fall this morning. So glad that I sold.

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About Anura Guruge

See 'The Blogger' on my https://nhlifefree.com/ blog.

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