“Loeb probably makes about a billion a year off the fees his fund generates,” Altucher reports. “By his picks we can see that he is turning bearish and… his biggest new position is AAPL”
“And why not buy AAPL? They are replacing (in the hands of one company) the entire music industry, movie industry, phone industry, computer industry,” Altucher reports. “50 [million] iPads will be sold over the next year, and on each iPad, people will buy 100s of songs, movies, and dozens of apps. The iPad is taking over computing.”
Full article, with more about what Loeb – and Warren Buffett and Carl Icahn are buying – here.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]