Thursday, November 04, 2010 4:28:32 PM
Posted by Philip Elmer-DeWitt
November 4, 2010 3:28 PM
Erin Burnett. Image: CNBC
If CNBC's Erin Burnett weren't born yesterday, she would know that when Julian Robertson ran Tiger Management, one of the early hedge funds, his motto was "find the 200 best companies in the world and invest in them, and find the 200 worst companies in the world and go short on them."
But she was born yesterday. So she began her Robertson interview Thursday with a lead-in that asks "is he worried about an Apple bubble?" She nods agreeably as Robertson tells her Apple (AAPL) "seems to have everything going their way," is "very reasonably valued" and that a lot of people weren't around in the '80s when stocks of far lower quality than Apple were selling at 50, 60 and 70 times earnings.
And she summarizes: "OK, you like it then." Then she asks her question:
"But big picture, you've got some worries. Because, well, everybody knows Apple is a hot stock, it's sort of become, I'll be honest, it's almost like a cult these days."
That's a statement, not a question. But Robertson, now 78, doesn't take the "Apple bubble" bait. Instead, he patiently explains to Ms. Burnett that 18 to 20 times earnings "for maybe the greatest company in the world" isn't at all high.
Video below the fold. Apologies for the 14-second ad.
http://tech.fortune.cnn.com/2010/11/04/how-not-to-interview-a-hedge-fund-legend/?utm_source=twitterfeed&utm_medium=twitter
Recent AAPL News
- GME Volatile as Roaring Kitty Goes Live Today, Meta Unveils AI for WhatsApp Ads, and More • IH Market News • 06/07/2024 12:09:15 PM
- Nvidia Becomes 2nd Most Valuable Company in the USA, ASML Takes 2nd Spot in Europe, and More News • IH Market News • 06/06/2024 11:34:59 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/03/2024 10:31:26 PM
- DJT Stock Falls 6% Post-Trump Conviction; UBS Restructures Senior Management for CEO Succession and More News • IH Market News • 05/31/2024 11:54:10 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/30/2024 08:14:20 PM
- Robinhood Shares Surge 3.3% on Stock Buyback Announcement; Anglo Declines BHP Deadline Extension, and More News • IH Market News • 05/29/2024 11:34:18 AM
- iPhone Sales Skyrocket in China, Nvidia Surges in Pre-Market Following xAI Fundraising, and More News • IH Market News • 05/28/2024 11:37:48 AM
- Nvidia Profits Set to Challenge Historic High Market; GE Aerospace Announces New Hires, and More News • IH Market News • 05/22/2024 10:37:09 AM
- Apple and Île-de-France Mobilités introduce Navigo card for iPhone and Apple Watch • Business Wire • 05/21/2024 03:30:00 PM
- CalPERS to Oppose Exxon Mobil Directors; Microsoft Unveils Copilot+ PCs with AI Focus, and More News • IH Market News • 05/21/2024 11:18:35 AM
- Li Auto Stocks Drop Post Earnings; Calhoun Re-elected to Boeing Board, and More News • IH Market News • 05/20/2024 11:03:22 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 10:30:33 PM
- Chubb Stock Soars 9% with Berkshire Acquisition, AST SpaceMobile jumps 37% on AT&T deal, and More News • IH Market News • 05/16/2024 11:27:07 AM
- Apple announces new accessibility features, including Eye Tracking, Music Haptics, and Vocal Shortcuts • Business Wire • 05/15/2024 02:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/14/2024 10:30:21 PM
- Walmart Corporate Job Cuts and Office Centralization, GameStop and AMC Surge, and More News • IH Market News • 05/14/2024 11:26:02 AM
- Apple Music celebrates the greatest records ever made with the launch of inaugural 100 Best Albums list • Business Wire • 05/13/2024 01:00:00 PM
- Arm Sets 2025 Target for AI Chip Development, Amazon and Microsoft Commit Billions to French Investments, and More • IH Market News • 05/13/2024 11:16:03 AM
- Weekly Surge for Render and Toncoin, US Bancorp Expands Bitcoin ETF Investments, and More in Crypto • IH Market News • 05/10/2024 07:32:06 PM
- Novavax Surges 57% Post $1.4 Billion Sanofi Deal; Apple Boosts Data Centers with AI and Internal Chips, and More News • IH Market News • 05/10/2024 12:02:56 PM
- Bain Capital in Talks to Acquire PowerSchool; Blackstone Emerges Victorious in Hipgnosis Bidding War, and More News • IH Market News • 05/09/2024 11:53:19 AM
- Meta Platforms Expands AI Ads, Apple Boosts iPhone Shipments, and More Highlights • IH Market News • 05/08/2024 12:27:48 PM
- Apple unveils stunning new iPad Pro with the world’s most advanced display, M4 chip, and Apple Pencil Pro • Business Wire • 05/07/2024 02:37:00 PM
- Apple unveils the redesigned 11-inch and all-new 13-inch iPad Air, supercharged by the M2 chip • Business Wire • 05/07/2024 02:37:00 PM
- Apple introduces M4 chip • Business Wire • 05/07/2024 02:37:00 PM
DaBaby and Stunna 4 Vegas's "NO DRIBBLE" Joins Music Licensing, Inc.'s Portfolio • SONGD • Jun 7, 2024 10:15 AM
Mushrooms Inc. (OTC: MSRM) Announces Significant Share Buy Back by the Board Director and New Strategic Initiatives. • MSRM • Jun 5, 2024 1:32 PM
Hydromer Announces Launch of HydroThrombX Medical Device Coating Technology • HYDI • Jun 5, 2024 10:24 AM
Dr. Michael Dent Finances $1 Million to Drive HealthLynked's Healthcare Transformation • HLYK • Jun 5, 2024 8:00 AM
Avant Technologies Enters Binding LOI to Purchase Dozens of High-Performance, Immersible, AI-Powered Servers • AVAI • Jun 5, 2024 8:00 AM
IQST - iQSTEL Announces $290 Million 2024 Annual Revenue Forecast • IQST • Jun 4, 2024 1:43 PM