Categories
Bullshit

I demand compensation for my failed gamble!

There’s a nice piece in the New Yorker about Apple versus Wall Street.

Einhorn and Tepper paid an average of about five hundred and seventy-seven dollars for their shares, which suggests that they are each sitting on a paper loss of close to a hundred and thirty million dollars. Naturally, they aren’t pleased, but their predicament isn’t Cook’s responsibility.

In buying Apple shares last year, when the stock was heading for seven hundred dollars, investors were willfully ignoring the law of large numbers and the laws of supply and demand.