“‘Frankly, I’m thinking I probably made a mistake,’ said Kass on CNBC’s ‘Futures Now,’” WSP reports. “The investment guru, who after Apple’s disappointing earnings results in January called its stock ‘dead money,’ bought AAPL just before the closing bell on Friday, when the ticker was pinning on expiration, and continued to add to his position. Yet, when the stock popped Tuesday morning, he immediately sold his shares.”
WSP reports, “‘At $425 or $430 or so, there seems to be substantial value in the company from a trading standpoint,’ Kass said, adding that the ‘problem facing fundamental investors and Apple, is that we still have a lot of earnings reductions from Wall Street coming ahead.’”
Full article here.
Doug Kass shows how easy it is to manipulate shares of Apple – February 27, 2013
Can the U.S. SEC prosecute Doug Kass over Apple stock split rumor? – February 27, 2013
Rotten rumors of impossible Apple stock split helps fund manager Kass clear profits – February 26, 2013
Apple stock split rumor pushes shares higher – February 26, 2013
Doug Kass: Apple to announce stock split on Wednesday – February 26, 2013