“You meet the nicest people on CNBC. Take, for example, Jeffrey Gundlach,” Philip Elmer-DeWitt writes for Fortune. “‘I just wonder how many people will queue up around the block for an iPad 87,”‘ he said. “That was in May 2012, when Apple was trading for just over $540 a share. The next day the stock began a run that took it to over $700.”
P.E.D. reports, “Gundlach was at it again Thursday, telling CNBC listeners that Apple ‘is a dead-money stock for quite a while to come, once it settles in around $530.’ For those with short memories, Gundlach was the so-called bond king of Wall Street profiled in Fortune after he was fired by his long-time employer, Trust Company of the West, and sued for allegedly stealing proprietary data to start a competing firm. ‘The suit added a salacious twist of the knife, perfectly calibrated for maximum media interest,’ Fortune reported. ‘Gundlach had allegedly stashed a trove of illicit material in his office: 70 pornographic magazines and videos, 12 ‘sexual devices,’ and several bags of marijuana.’ — From Firing the $70 billion man.”
Read more in the full article here.
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