Dougie reckons big mistake covering Apple short. More like missing a few more Pennies in front of the freight train. Agree, Apple is currently richly valued and perhaps one of its highest PE ratios historically, if not the highest.
However, having read Dougie’s columns for many years, he has consistently missed one of the greatest runs and successes in history. Same old same old.
Habits die hard.
Dougie Kass
Correct. I have never understood Apple’s valuation.
It has been a capital allocation story (it certainly has not been a top line story) – and that is what I missed.
But Mira it’s important also not to dwell on investing/trading mistakes.
Mistakes happen often – it’s how you manage risk (your mistakes) that counts.
As for me I am often wrong and always in doubt.
Finally though some profess perfection, no one has a concession on the truth in the investing game.
Doug Kass is a world-renowned hedge fund manager with decades of experience and success navigating through some of the most turbulent periods in market history. He is known for his time-tested analytical skills and ability to look past the current noise and herd mentality.
On TheStreet Pro, Kass provides frequent market commentary and investing ideas for active investors throughout each trading day in Doug’s Daily Diary. He also serves as president of Seabreeze Partners Management Inc. Previously, he served as a senior manager at Omega Advisors, a $6 billion investment partnership. He co-authored a book with Ralph Nader and the Center for the Study of Responsive Law called “Citibank: The Ralph Nader Report” and can be found as a guest host on CNBC's "Squawk Box."
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