Lately, AEA and Apple both started dead center and are running towards opposite ends. AEA is long Apple and has been losing money hand over fist.
Also, AEA is short volatility and still has not covered. It's OK to go bargain-hunting, but when there is a fire, you don't just walk into it.
He's gone because of your bad Apple earnings play. He was gung-ho about Apple going up after the earnings release, but instead he got wiped out.
Poor guy was smart, but he placed too many "Apples" in one bag and the bag broke. Oh well, at least he's moving around and getting exercise now at the car wash.
Read the article: The Unthinkable Is Happening: Apple's Dominance In Apps Is Slipping Away To Android
Search for it on Yahoo.
Apple stock will falter over the next few months as this news hits its earnings.
Sentiment: Strong Sell
If you are looking to bottomfish again, check out RAX. You should know this company which is Rackspace. It has been overly sold and is on its bottom. You can scoop up shares and add to your position if it drops further. You'll score a big win in the long-term (months later).
Are they banning cellphones at the car wash? I thought they would at least allow you bathroom breaks where you can post a few messages. I guess not.
Enjoy your retirement.
I can tell you what is wrong with Apple today. It won't stop going up. AEA shorted starting at 523 and is shorting all the way up.
AEA will end up winning even on those trades as they eventually win almost everything.
Prem Watsa has an average buy price for the shares at about $17 if I recall correctly. He does not want to see this investment go lower than that, imo.
John Chen is a genius and will turn this thing around in a couple of years.
I agree. It sounds like something is already in the works and that is why they want to abandon the sales process.
Fairfax doesn't really want to let BBRY go through a fire-sale and now that they have the willing buyers setup, they can structure it to be sold off in pieces at much higher valuations.
By hiring former Sybase Inc. CEO John Chen, BlackBerry Ltd. has turned to the type of leader it probably should have hired when co-CEOs Jim Balsillie and Mike Lazaridis decided to step down in late 2011.
Mr. Chen’s biography looks much like a checklist of experiences one would look for to take over a once-mighty tech company that has fallen on hard times and needs a radical reboot. The passage of nearly two years and further deterioration in the business during the brief tenure of his predecessor Thorsten Heins makes his task that much more challenging. Mr. Chen rose from modest beginnings to become a successful Silicon Valley senior executive, an accomplished turnaround artist , and a director of major Fortune 500 boards with powerful connections in Washington D.C. – and a deep knowledge of China. He also found success for Sybase by correctly foreseeing the coming growth in mobile communications in the late 1990s and positioning the company as a leader selling business services into that market.
Mr. Chen’s success at Sybase earned him appointments to the boards of Wells Fargo & Co. and Walt Disney Co., as well as the board positions with the New York Stock Exchange and several tech stargups. He was also appointed by U.S. president George W. Bush to serve on the President’s Export Council and and was made co-chair of the government’s Secure Borders and Open Doors Advisory Committee. He is also a trustee of the San Francisco Symphony, the Brookings Institution and CalTech. He has long played a senior role in building relations between the U.S. and China, serving as a member of the “Committee of 100” a group of high-level Chinese-Americans, and winning accolades and awards for his work, including making Forbes’ magazine’s list of the Top 25 Notable Chinese-Americans in Business.
Your 580K shares may not be looking good in the short-term, but in the long-term, you should be good.
You are a brave soul. I hope this works out for you. You called the halt this morning. I had no idea it would drop like a fruit fly prior to the halt. I say you may get a $8 buyout by Prem. Indians always land bargains on large deals.