Sorry but that's the truth. The guy throws the Buy on after sell offs. He gets paid to tell people to initiate a position after irrational selling. Duh, yeah if you've been out of aapl, sure that would be a good time to move in.
Another well-crafted rumor play hits yesterday, so he removes the Hold rating. So now aapl is a Buy, but still sell it at $160. Right, sell it just like the $110 target you had on it until last week. His last Buy was in the low 80s after a 15% sell off.
So, in at $82, out at $110, in at $130, out at $160. Uh, OK. My people don't leave that kind of cash on the table, they add to their positions during nonsense like yesterday.
3 comments:
I love your blog, Gene, but you are off base on this one. Saying that a stock that has just been irrationally sold should be purchased is a very good call. If there was no reason to have sold, then there is every reason to be buying AT A LOWER PRICE as there was to be buying AT A HIGHER PRICE.
Are you sure that you are not just exhibiting a bit of frustration that the stock has dropped and is now a long way away from your target of $211? It is OK, that is natural. You can admit to being human.
Gene,
You're completely right. The last comment is a bit off base -- no one argues with "buy low, sell high". However, you have to guard again selling too soon, then buying back in at a HIGHER price. Yes, the stock may (and has) gone higher, but you would have been much better off just holding on to the stock. Plus, for a long-term investor, there's the big question of long-term capital gain. For some people, this is the difference between 15% and 28%.
Hey Gene, you should be thanking Gardner for stepping up when you (and everyone else) were not doing anything EFFECTIVE to help AAPL these last few days.
Gardner's 160 target may be lame, but we saw today there is a big advantage in timing your punches.
When you went to $211 on the same day as every noob was upping their targets, your call gets lost in the noise. If you waited a few days and slept on it a little (I mean did a little more sophisticated analysis), you could have sprung that target number when the stock was tanking and looked like an amazing stud.
Of course, we know you ARE an amazing stud, but this would be a good time to be at the top of your game, my man.
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