“Though billionaire Julian Robertson once considered Apple to be one of the world’s greatest companies and a sound investment, the renowned hedge funder told CNBC on Monday he has dumped all shares because founder Steve Jobs was a ‘really awful’ person,” Drew Sandholm reports for CNBC.
“Robertson said he came to his decision after recently reading a biography about the late technology innovator. Though he said the stock performed well for him, he decided to sell all of his shares in January,” Sandholm reports. “‘We’ll let somebody else make the money from now on,’ he said on Closing Bell. ‘I came to the conclusion that it was unlikely that a man as really awful as I think that Steve Jobs was, could possibly create a great company for the long term. I just don’t believe bad guys do well in the long run,’ Robertson said.”
“Still, he acknowledged Jobs’ many inventions, including everything from the iPhone to the iPad,” Sandholm reports. “‘There’s no question that — and I think if he were still there, I’d still be in it,’ Robertson said. ‘I think he’s one of the great geniuses of the world. But — he’s not the kind of guy I think that would develop a long-standing company.'”
MacDailyNews Take: So, if the devil incarnate was still drawing breath, Robertson would have no problem owning shares, but because the “awful” being has been dispatched to the netherworld, he’s dumped all of his shares?
Total nonsense.
Read more in the full article here.
MacDailyNews Take: Senility isn’t pretty.
Well that’s a load of crap, if I’ve ever heard one.
Hey, billionaires can afford to be stupid. 🙂
It must be International Stupid Week, as someone else aptly put it.
No matter how entrenched you are in the world of Apple, you do need to agree that SJ was an acquired taste. Needless to say that his persona is what made him who he was. His take no prisoners and breach conventional methods and processes was often misunderstood.
I say it’s a load of crap, because…
1. Investors give care about such things, otherwise they would have to dump most of their investments.
2. Like Steve or not, he’s dead, so it’s disingenuous to say that this has anything to do with him or his behavior of years past.
3. If there’s anything to instant karma, and if Steve really was a jerk, then he and his family have been paid back in spades.
This press release was a load of crap.
“don’t care” not “give care”
I think I can agree with that. A very sensible comment. But I don’t think I would call him awful. Maybe ppl that stod in his way will.
Sounds like this guy has “daddy issues.”
He can always buy Microsoft shares, and soak in the awesomeness if microshit
What a buffoon. Find me a large, successful company where the CEO isn’t a driven, demanding person.
And to decide to sell his shares after reading a biography TWO YEARS after Steve Jobs’ death?!? I hope anyone who is part of his hedge fund realizes this guy has lost all his marbles and gets away from him ASAP.
It’s just an excuse to dump his stocks.
I found Steve shocking but refreshing in a world now where everyone is supposed to get a trophy even if they suck. I’d work for him in a second. The coddling rewards takes everybody down to the lowest level. Steve called it like it was: get on board, get with the vision, work hard, or get out. We need a few more like him. Drives me nuts to see some incompetent people in my own workplace that are babied and kept.
I agree Steve certainly wasn’t a model citizen in all areas, esp. when it came to his first daughter’s conception and early years, but he was a young man on a mission and in denial of anything that would stand in it’s way. Almost as if his inner clock told him he didn’t have a lot of time. It was still wrong, but he did make up for it as best he could in later years, which is more than many do.
It appears Ballmer is a good family man, professes he loves everybody in the company, and where’s that got Microsoft? How are those shares doing for you Mr. Robertson?
Ouch! The stupid hurts so bad.
This guy makes no sense whatsoever. A billionaire who makes investment decisions based in biographies?
Interesting way to try and manipulate the stock
Hey Julian, have you read about Henry Ford or Alexander G Bell? Both were real ‘nice guys’.
Guess he’s never head the old saying “Nice guys finish last.”
Translation: “After hearing that Carl could get a dinner audience with Tim and Peter, I tried, too. They declined to thusly honor me. I’m outta here.”
Probably, next time we would hear that Julian Robertson is going to sell AAPL because Steve Jobs is not resurrection, coming back to life after death. ROFL.
Shmuck.
As apposed all those other important people, who became the leaders of men and changers of the world, by being very nice to everyone and never making mistakes.
Life ain’t fair… Morons like this guy are billionaires…
To make money was never a proof of intelligence.
Prime example (or Primate example): Ballmer the billionaire
Perfect evidence that hedge fund traders are total mindless idiots.
I will not buy Oracle shares because I do not like Larry Ellison. I do not have an opinion on if Ellison is a good or bad person.
This guy’s words best define ‘idiotic.’
Well, it was on CNBC and they always make crap up.
He sold in JANUARY almost a year ago. Why in the world is this news. I sold some in oct of 2003 for 250 dollars a share. I am an idiot , so is he.
Awwww, da wittle man is afwaid of da meen ole Stevie-weevy an tinks dat meen man yelled at his empwoyees becawz dey dunt werk ‘ard enuf.
Awwww… Now he dun make dat muney, he gonna sell his stok to teech dat dead man a big lessun.
Wunder how manee books dey gunna rite sayin’ dat Apple man bad and good an bad sowes da wittle frayedy man can chaynge his mine.
And he was complementary toward the unethical scoundrel Schmidt.
‘… I just don’t believe bad guys do well in the long run,’ Robertson said.’ I don’t know, hedge fund tossers seem to manage it quite well.
Total BS. He bought in to the Tim Cook is no Steve Jobs and gay thing and that’s why he sold his shares. This guy is the epitome of mean!
So… He dumped all his AAPL holdings last January and is just now talking about “why” he did so? Clearly it’s for no other reason than to get HIS name (not Apple’s or Jobs’) in circulation. In reality he dumped it because it was, at the time, a falling stock. Now it look likely to make a comeback, and he needs to cover his ass.
Also, if he dumped Apple stock because Jobs was “mean”…
…Then he should have no Oracle holdings because Ellison is even worse.
…Then he should have no Microsoft holdings because Ballmer is so violent he literally throws chairs when he is angry.
…Then he should have no Google shares because Schmidt has zero personal or professional ethics.
The list goes on and on and on.
True, but none of those companies will grab headlines with his decision. He could have said “I farted today because of Apple” and it would make front page news.
Yeah and hedge fund traders are the pinnacle of morality.
I was right all along! Those Greedy Jews deserved everything I had given them! Ach, Ja!
/s
Why is this a story? Is it a slow news day?