Everybody
loves Apple. Well they did when the
stock was going up. CNBC was full of
people praising the company saying its upside was limitless. Even your hair stylist and oil delivery
person were telling you to buy it. But
now that the stock has fallen 18% from mid April and 13% from the start of the
year (compared to the rest of the market that's up), suddenly everybody knows
it's a dog and you should punt it. Where
were these recommendations $20 ago? Now
all you hear on CNBC is how much everyone loves Amazon, now that it's up 66% in
the last year. Bold prediction: IF Amazon were to fall 20%, I
predict people will start saying they no longer like it. And IF Apple rises 20%, people will again
tell you how great a stock it is. We are
all masters of hindsight.
- Larry Pike, CFA, Client Priority Financial Advisors LLC
- www.clientpriority.com
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