“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?
Read more in the full article here.
MacDailyNews Take: Senility isn’t pretty.