“Retail investors loaded up on Apple last month as the stock plummeted to its lowest levels of the year and the company doubled its capital return program,” John Melloy reports for CNET. “So much so that the stock now has more ownership than ever in the history of TD Ameritrade, which tracks the largest pool of retail investors.”
“The general thinking on Wall Street has been that retail is the so-called dumb money and so one would think the stock garnered the most retail interest as it hit an all- time high of $705 last year. But that wasn’t the case,” Melloy reports. “‘The retail investor studies a lot on the Buffett principle, and they think it’s a great company trading at a good price,’ said Nicole Sherrod, managing director of TD Ameritrade’s Trader Group.”
Melloy reports, “Apple rebounded almost 20 percent from its low of $385 last month as investors ignored weak iPhone sales and cheered the company’s expanded plans to give back $100 billion in the form of share buybacks and dividends. The company also issued $17 billion in debt to fund that capital return. Ironically, it was hedge funds and mutual funds that felt the most pain from Apple’s selloff from its record high in September.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Lynn Weiler” for the heads up.]
Well, duh.
Duh what?
Smiling…
Hedge funds and mutual funds lost the most….
“Dumb” money bought low……
Maybe the market manipulator s don’t always come out on top…
” Hedge funds and mutual funds lost the most”
…And short sellers like those that invaded MDN with FUD as of The last 6 months..,
Couldn’t have happened to a nicer bunch of assholes!
The winners were the Hedge Funds that collected all the huge Call Option premiums during last 6 months!
Finally someone that says something nice about the retail investor thank you.