Personality One: I've made a tremendous amount of money speculating on Apple stock over the last ten years. You'll never go broke betting on the stupidity of the American consumer.
Personality Two: Apple is and always has been one of the most overrated and hypocritical corporations in the world. There isn't time or space here to cover all the facts supporting this assessment. Walmart has more integrity.
Since it's announcement last Fall, I've been amazed at the ridiculous hype surrounding Apple's latest attempt to fleece the sheep....the iWatch.
What you have is an overpriced fashion statement that has a lousy battery life, is relatively bulky, and doesn't have its own internal intelligence to do much (it relies on your iPhone). The one thing it does well is serve as an expensive workout timer and, provided you don't mind small storage, a means of music playback to bluetooth headphones. That is a nice capability, but is it really worth $350?
That, of course, is for the plastic piece-o-crap version. The metal version is around $700 and it gets worse from there. Apple is literally trying to see what the limits of their customer exploitation may be.
Apple may finally be starting to run out of lemmings. Some preliminary channel data is suggesting that sales have been absolutely abysmal since the first rush of iDiots, who just had to buy one sight unseen. Volumes have collapsed over the last couple of months.
Full disclosure: I sold all of our final Apple holdings with the late April
iWatch launch hype spike. The next move will be to short with conviction when the markets finally do begin to roll over (which may be sooner than anyone thinks).
Love the iWatch photo :) Is that your wrist?
ReplyDeleteI wish I was creative enough to come up with that. It does make me laugh!
Delete"fleeced"
ReplyDeleteI lost most interest in political science when a single line in a classic movie summed it all up: remember "The Magnificent Seven", with the famous Elmer Bernstein musical score? A gang of robbers cleaned out a village of peons, once per year. The leader of the banditos, Eli Wallach, justified his annual thievery in this way: "If God didn't wanted them sheared, He wouldn't have made them sheep."
What else is there to say about politics and economics?
It may make people feel superior whenever their personal "tribe" (Republican or Democrat) gets a perceived win, but the facts show both sides have been equally bad for this country. Since we all allow it, we all deserve it.
DeleteDoes it sound like science fiction or doom-mongering to suggest that short sellers will be jailed in the USA, as in China?
ReplyDeleteSo do your shorting while you still can!
The scary part is that this already happened. The SEC blocked the shorting of financial stocks back in September 2008. I can only imagine what types of capital controls may be put in place when we have the next, even larger, financial crisis.
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