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(CNN)   Step One: Go on CNBC and other business news outlets and say that Apple has "lost its mojo." Step Two: Watch Apple stock fall 20%, then start buying the stock again. Step 3: Profit   (tech.fortune.cnn.com ) divider line
    More: Asinine, CNBC, retail investor  
•       •       •

4604 clicks; posted to Business » on 10 Nov 2012 at 1:58 PM (3 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



36 Comments   (+0 »)
   
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2012-11-10 11:13:44 AM  
I thought that was illegal.
 
2012-11-10 11:20:12 AM  
Yeah, this is why retail investors have the deck stacked against them, especially if they don't have all day, five days a week to become involved in keeping track of what's going on.
 
2012-11-10 11:20:47 AM  
The really amusing part of this story is that this jagoff started buying Apple stock again even though almost all of his reasons why Apple has "lost its mojo" still apply. I mean, his main reason is that Steve Jobs is dead. I'm sure Jony Ive is working as fast as he can on an "iResurrect" device, but last time I checked, Jobs is still dead.

I do hope this doesn't devolve in a "LOLZ Apple sucks Android is teh shiat" thing, because it's a prime example of how these analysts that infest CNBC and the financial press may be manipulating stocks for their own benefit. Hell, Google has likewise been harmed by their failure to meet the unrealistic expectations of these analysts.
 
2012-11-10 11:36:00 AM  

impaler: I thought that was illegal.


No, insider trading is illegal. This is more like outsider trading.
 
2012-11-10 11:52:33 AM  
shaking out who knows how many retail investors who had to sell their holdings at distressed prices to meet margin calls

If you're a retail investor and you're leveraging your Apple stock holdings, you deserve everything that's coming to you.

Apple stock is totally dependent on future earnings, and have no basis in reality for where the company is today. It's what happens next week or next year that determines what direction the stock will go, and that's a very risky business. It leads to huge swings in the stock price.
 
2012-11-10 12:20:53 PM  

i upped my meds-up yours: impaler: I thought that was illegal.

No, insider trading is illegal. This is more like outsider trading.


Reverse Pump and Dump? Decry and Buy?
 
2012-11-10 12:29:25 PM  

i upped my meds-up yours: impaler: I thought that was illegal.

No, insider trading is illegal. This is more like outsider trading.



Yeah, thats how it used to be.  But I thought after the last crash, regulations were put in place for what traders/managers/analysists could say on TV relative to what they were buying/selling.
 
2012-11-10 12:47:32 PM  

Because People in power are Stupid: i upped my meds-up yours: impaler: I thought that was illegal.

No, insider trading is illegal. This is more like outsider trading.

Reverse Pump and Dump? Decry and Buy?


I was going to say dump and pump. If I read this right, pump and dump is illegal for penny stocks, but not large ones (considered to stable to be vulnerable). Which brings up the point whether the prognosticator in the story even really effected price. Also, it's unclear to me if reverse pump and dump is illegal, even for penny stocks.

Link
 
2012-11-10 02:26:44 PM  
If his comments were, in fact, the sole cause of the price drop from $674 to $633, then with 940.69M shares outstanding, his words carry power equal to nearly 132 billion dollars. That's bond-villian-level power right there.
 
2012-11-10 03:02:07 PM  

INTERTRON: If his comments were, in fact, the sole cause of the price drop from $674 to $633, then with 940.69M shares outstanding, his words carry power equal to nearly 132 billion dollars. That's bond-villian-level power right there.


He's just one of a group of "commentators" who participate in this sort of activity. This is nothing new. It's been done many times over the past few years.

/not Subby, because somebody beat me to it
 
2012-11-10 03:10:19 PM  

impaler: If I read this right, pump and dump is illegal for penny stocks, but not large ones (considered to stable to be vulnerable)


It is mostly legal, since it is damn near impossible to pump and dump well established companies. Examples: Nobody will ever believe Windows 9 will boost Microsoft stock by 800%. Nobody will buy a story that Ford has secretly manufactured 500,000 cars that will run on water and only cost $500.00 etc.
 
2012-11-10 03:12:05 PM  
and this is why the market is nothing but a crapshoot. Apple made a TON of money, billions profit, but missed what the anal ist thought it should be. So what do they do, downgrade the stock even though Apple is one, if not, the richest companies in the world. It's all a joke and it's on us.
 
2012-11-10 03:25:30 PM  

Because People in power are Stupid: Decry and Buy?


Ooo, I like that.
 
2012-11-10 03:53:12 PM  
that's why the Kritter stays with a sandwich heavy portfolio.
 
2012-11-10 05:28:25 PM  
No...

1: Short Apple via an option.
2: Diss Apple on CNBC
3: Trigger the option.

That way you only risk the option price, then you aren't left holding the stock you just dissed.

Stupid subby.
 
2012-11-10 05:34:00 PM  
Wow, even the people who buy Apple stock are a-holes.
 
2012-11-10 06:29:20 PM  
Cramer?
 
2012-11-10 07:12:58 PM  
For once that formula frequently posted on Fark works. Let's do it again next week.
 
2012-11-10 07:13:18 PM  
I think he would like us to believe his opinion carries that kind of weight. Anyone who made $ from APPL was not taking advice from tv or magazines.
 
2012-11-10 07:32:47 PM  
"Pump and dump" is if you own it, rave about it, then sell it.

That makes this what?
"Dump and jump"
"Renounce and pounce"
"Decry and buy"
 
2012-11-10 07:55:47 PM  
What a Kasshole.

/Ba-dum-tsh
 
2012-11-10 09:55:39 PM  
If you're stupid enough to sell off your shares of a profitable company because of what some douchewit running a hedge fund says on Twitter you deserve whatever happens to you.
 
2012-11-10 09:58:01 PM  
Oh, and I just want to point out that now that this numbnut is getting attention from the media for buying back the stock idiots will also jump in and buy it and he'll promptly sell it off at a tidy profit.

That's one of the benefits of being lucky enough to be particularly rich and in a field where you don't actually do any work. You get to use the media and "connections" as a substitute for your otherwise complete lack of useful skill.
 
2012-11-11 12:47:38 AM  
Yeah right, this one guy caused Apple to fall 20%

Like many people he predicted it would fall. There are always many people predicting Apple will fall. He was just one of those many people who, at some point, will be right because every stock falls at some point.

Then Apple happened to fall. Not from anything he did, but since he gave "reasons" some stupid people blame him for the fall.

Since the stock fell 20%, he changes his mind, which makes perfect logical sense. Now the stock is fairly priced, so he buys.

People cry foul, claiming he manipulated the market.

Why give this random moron who happened to be in the right place at the right time any "credit" for being right, or any "blame" for the stock falling? He didn't do anything, or affect a damn thing at all. Go somewhere else for your conspiracy theories.
 
2012-11-11 01:00:35 AM  

Christian Bale: Yeah right, this one guy caused Apple to fall 20%

Like many people he predicted it would fall. There are always many people predicting Apple will fall. He was just one of those many people who, at some point, will be right because every stock falls at some point.

Then Apple happened to fall. Not from anything he did, but since he gave "reasons" some stupid people blame him for the fall.

Since the stock fell 20%, he changes his mind, which makes perfect logical sense. Now the stock is fairly priced, so he buys.

People cry foul, claiming he manipulated the market.

Why give this random moron who happened to be in the right place at the right time any "credit" for being right, or any "blame" for the stock falling? He didn't do anything, or affect a damn thing at all. Go somewhere else for your conspiracy theories.


*poke* Why Heath Ledger and not you?
 
2012-11-11 02:15:41 AM  
If somebody did this on a larger scale... and knew it was coming...they could profit handsomely.
/Denzel Washington John Travolta train movie
 
2012-11-11 02:45:28 AM  

FTFA: "If he was correct in mid October, it would follow that he was even more correct this week, when Apple -- which was trading for $674 a share when Kass started his campaign -- traded for as low as $533.74."

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2012-11-11 07:22:11 AM  

Christian Bale: Like many people he predicted it would fall. There are always many people predicting Apple will fall. He was just one of those many people who, at some point, will be right because every stock falls at some point.


Except that stock pundits have an effect on the price of stock (amongst small, retail investors mostly). Stocks can be (in the short term) a self-fulfilling prophecy.

There used to be a magazine in the UK that predicted stocks and you could look at charts and see that within a week of their predictions, stocks would rise in price, and that actually, that was sometimes all the gains they got. It's why it's not worth listening to share pundits. By the time you get there, the value is distorted.

Find small company stocks and do your own analysis.
 
2012-11-11 10:42:51 AM  

Tom_Slick: Nobody will buy a story that Ford has secretly manufactured 500,000 cars that will run on water and only cost $500.00 etc.


Unless you also mention that the oil companies bought the patent, and won't let Ford sell them...
 
2012-11-11 11:00:13 AM  
FTA: "Nine of his 10 reasons were fundamental and irreversible... The loss of its ecosystem advantage."

Its ecosystem advantage? WTF is an ecosystem advantage, and how do you lose it?
 
2012-11-11 02:24:02 PM  

DrPainMD: FTA: "Nine of his 10 reasons were fundamental and irreversible... The loss of its ecosystem advantage."

Its ecosystem advantage? WTF is an ecosystem advantage, and how do you lose it?


I think he means that when you buy music or apps for an Apple, you can get the same thing on your iPod, iPhone, Macbook, iPad, etc. The Apple "ecosystem" works together fairly weel without have to do a lot of configuration on the user's end.

Android apps can do the same thing, and Windows is also beginning to make it easier to access content across multiple devices.
 
2012-11-11 02:45:59 PM  
Between "reporters" like this guy and wacky computer trades, the stock market seems like an increasingly poor investment.
 
2012-11-11 02:54:47 PM  

Because People in power are Stupid: i upped my meds-up yours: impaler: I thought that was illegal.

No, insider trading is illegal. This is more like outsider trading.

Reverse Pump and Dump? Decry and Buy?


The term you're looking for is "Short and Distort".
 
2012-11-11 09:09:21 PM  

Christian Bale: Yeah right, this one guy caused Apple to fall 20%

Like many people he predicted it would fall. There are always many people predicting Apple will fall. He was just one of those many people who, at some point, will be right because every stock falls at some point.

Then Apple happened to fall. Not from anything he did, but since he gave "reasons" some stupid people blame him for the fall.

Since the stock fell 20%, he changes his mind, which makes perfect logical sense. Now the stock is fairly priced, so he buys.

People cry foul, claiming he manipulated the market.

Why give this random moron who happened to be in the right place at the right time any "credit" for being right, or any "blame" for the stock falling? He didn't do anything, or affect a damn thing at all. Go somewhere else for your conspiracy theories.


Go back and read the other posts before you embarrass yourself any more.
 
2012-11-12 10:59:17 AM  
Nothing he said or did was wrong. All the things he said were wrong with Apple are wrong with Apple. That doesn't mean idiots won't continue to gobble down overpriced IT toys like Paris Hilton and so much wiener.

The fact that Apple products are equal or worse and priced higher is a reason not to buy Apple products.
The fact that idiots still buy Apple products is a reason to buy Apple stock.
 
2012-11-12 11:05:37 AM  

DrPainMD: FTA: "Nine of his 10 reasons were fundamental and irreversible... The loss of its ecosystem advantage."

Its ecosystem advantage? WTF is an ecosystem advantage, and how do you lose it?


You should do more reading and less posting if you don't know what that means...


There used to be lots of apps that were just on iOS. iTunes also was for a while the most cost effective way to get the music/movies you wanted. Neither of those things are true anymore. Most of the Android apps are better and Amazon has a better music/movie service.
 
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