Comments on: Firm urges investors to buy Apple after panic on Mac sales http://www.roughlydrafted.com/2009/02/20/firm-urges-investors-to-buy-apple-after-panic-on-mac-sales/ Daniel Eran Dilger in San Francisco Sun, 05 Feb 2012 17:03:33 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Joel http://www.roughlydrafted.com/2009/02/20/firm-urges-investors-to-buy-apple-after-panic-on-mac-sales/comment-page-1/#comment-17583 Joel Sun, 22 Feb 2009 10:06:29 +0000 http://www.roughlydrafted.com/?p=3222#comment-17583 Taking the stockmarket seriously on the economy and other long-term financial markets is like expecting a bunch of fishmongers to understand the ecological issues fish stocks face in the next few years... Taking the stockmarket seriously on the economy and other long-term financial markets is like expecting a bunch of fishmongers to understand the ecological issues fish stocks face in the next few years…

]]> By: John Muir http://www.roughlydrafted.com/2009/02/20/firm-urges-investors-to-buy-apple-after-panic-on-mac-sales/comment-page-1/#comment-17560 John Muir Sat, 21 Feb 2009 13:10:40 +0000 http://www.roughlydrafted.com/?p=3222#comment-17560 Correct. Correct.

]]> By: John E http://www.roughlydrafted.com/2009/02/20/firm-urges-investors-to-buy-apple-after-panic-on-mac-sales/comment-page-1/#comment-17542 John E Sat, 21 Feb 2009 04:21:23 +0000 http://www.roughlydrafted.com/?p=3222#comment-17542 i feel bad seeing smart people take the stock market seriously as something that is economically "real" at all. in fact, the stock market lost any real connection to a company's performance (price/earnings ratio) somewhere in the 1980's, and turned instead into either (a) a retirement savings plan for long-term investors (401k), or (b) a speculative game of finding a sucker to pay more than you did for short term investors. the latter group pushed prices up ridiculously the last several years, and now they've run out of suckers, at least for a while, hence the crash. so prices jump up or down these days driven solely by hype - or fear (except of course for the companies that are in fact going under for good). the peak in Apple stock in '07 was not a validation of Apple's real worth or skill, it was just a reflection of Apple's media prominence after the iPhone. the big drop since is not about Apple's 2009 prospects, it's just a reflection of the current macro economic near-panic we are experiencing. if you want to be a day trader and play the speculation game with Apple stock, great. but it ain't about the truth of anything. i feel bad seeing smart people take the stock market seriously as something that is economically “real” at all. in fact, the stock market lost any real connection to a company’s performance (price/earnings ratio) somewhere in the 1980’s, and turned instead into either (a) a retirement savings plan for long-term investors (401k), or (b) a speculative game of finding a sucker to pay more than you did for short term investors. the latter group pushed prices up ridiculously the last several years, and now they’ve run out of suckers, at least for a while, hence the crash. so prices jump up or down these days driven solely by hype – or fear (except of course for the companies that are in fact going under for good). the peak in Apple stock in ‘07 was not a validation of Apple’s real worth or skill, it was just a reflection of Apple’s media prominence after the iPhone. the big drop since is not about Apple’s 2009 prospects, it’s just a reflection of the current macro economic near-panic we are experiencing.

if you want to be a day trader and play the speculation game with Apple stock, great. but it ain’t about the truth of anything.

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