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George Acs

 
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  • Cook Does Icahn's Dirty Work At Apple [View article]
    While the best product and best strategy doesn't always equate with success, you can't argue with the formula. Apple has certainly done it better than anyone in this generation and they've had the success to match.
    Apr 30, 2014. 09:33 AM | 1 Like Like |Link to Comment
  • Cook Does Icahn's Dirty Work At Apple [View article]
    I still have short puts TWTR ($43.50 and $33), APOL, LULU, CREE, FB, CRM and MCP (my favorite). Maybe some others, I forget. I don't think I'll be doing anymore this week, although had YELP not climbed strongly today that would have been the most likely.

    Good luck to us all. I'm a big believer in luck and hope.
    Apr 29, 2014. 07:52 PM | Likes Like |Link to Comment
  • Cook Does Icahn's Dirty Work At Apple [View article]
    Yeah, the dough keeps adding up, but you would think that some people were getting a split, inversely based on the quality of their comments in addition to the frequency
    Apr 29, 2014. 05:16 PM | 1 Like Like |Link to Comment
  • Cook Does Icahn's Dirty Work At Apple [View article]
    Very little of what you have offered could have been considered to have had any kind of an intellectual basis, as so much was predicated upon your own projections, rather than what was written. In the event you aren't familiar with that concept, you see or believe what you want and disregard the fact that such thoughts lie within you and not others.

    Intellectuals usually have the ability to interpret the written word and not fabricate purely for purposes of supporting their own position.

    Yet you are consistent. You have taken every opportunity, including your initial comment, to insert an inflammatory or otherwise derogatory statement or phrase as your introductory salvo.

    Is that what an "intellectual" does? Rather than impugning, name calling or ascribing false arguments to others why not consider trying to discuss the merits of a particular position?
    Apr 29, 2014. 03:49 PM | 2 Likes Like |Link to Comment
  • Cook Does Icahn's Dirty Work At Apple [View article]
    What makes you so angry and prone to invective?

    The article simply states my belief that Apple will now be a good covered option trade because it is transitioning to middle age, as it's latest moves would indicate.
    This was not an article regarding the merits of a split. Splits are pure optics and those that seek to make quick profits after the split by buying shares are usually in for a disappointment. The run up is usually in advance of the split becoming executed.

    Your cackling at Apple's run higher yesterday shows that you do care about the split, because it was likely solely responsible for shares moving higher. Earnings were not the basis for the rise. Everyone agrees about that having been largely irrelevant. You may not care about the validity of the split, but you certainly and rightfully, care about its short term impact.
    The ensuing discussions suggest that product innovation have been recently lacking, key sales are slowing and replacement streams of growth aren't readily apparent. Nothing has maligned shares as a previous investment vehicle and nothing maligns its future prospects other than to say that it may be unreasonable to expect continued growth as during much of this past decade.

    Apple is simply following the playbook of many companies that have recognized that growth is no longer likely to continue at its former pace.
    No, we do not agree on Apple's product mix limitation as being the reason for its P/E. It has the P/E of a retailer, because that is how it has re-branded itself and because cash accounts for about 30% of the market cap. If cash wasn't such a strong component of the cap its P/E would be about 18, but it still wouldn't get valued like a growth technology company

    You continually interject your own unfounded interpretations and do so in an angry way. I'm glad that bitterness doesn't automatically come with advancing age.
    Apr 29, 2014. 12:58 PM | 3 Likes Like |Link to Comment
  • Cook Does Icahn's Dirty Work At Apple [View article]
    You clearly do care about the split.
    But as you show know in your wizened years the run up for most stocks occurs in the immediacy of the split announcement. If you don't know that you haven't been paying much attention. The additional $20+ run higher on Monday was impressive, even on a percentage basis, but shouldn't be an indication that the same will occur after the split itself has occurred.

    If you put on your own spectacles and read through so many of the comments, that is the expectation. History just doesn't bear that out and it would not be the most prudent of investments for those thinking that there will be a quick gain after the split.

    The greatest likelihood is that people like you, who recognized that there was a run up higher after the announcement will take some profits after the split and sell their shares to those who would love to share in your good fortune, but are likely to end up disappointed.
    Apr 29, 2014. 10:05 AM | Likes Like |Link to Comment
  • Cook Does Icahn's Dirty Work At Apple [View article]
    For much of the past two decades when Apple gave its guidance it was purely fantasy and was purposefully mis-leading. Apple specialized in the "under promise and over deliver" brand of guidance. Analysts use a number of sources to arrive at their figures and they are generally fairly close. If you look at the wide range of S&P 500 companies reporting earnings there are relatively few "surprises" when it comes to actual earnings versus the mean of analyst estimates, because the greatest emphasis is put on actual company guidance and data flow. Not so for Apple, which always low balled its guidance.
    Apr 29, 2014. 09:00 AM | Likes Like |Link to Comment
  • Cook Does Icahn's Dirty Work At Apple [View article]
    That's right, insiders have no vested interest and will always be objective.

    You're choice of time frame is interesting, however. So are you saying that between 2000 and 2004 you were calling for Apple to badly trail the S&P 500 and everyone else was calling for it to out-perform?

    Nice.
    Apr 28, 2014. 02:01 PM | Likes Like |Link to Comment
  • Cook Does Icahn's Dirty Work At Apple [View article]
    I don't have any position in Apple, neither long nor short, neither in stocks nor derivatives. That was made clear in the disclosure at the top of the article. The last publicly disclosed ownership position in Apple closed on Sept 20, 2013.

    But to see 2014 closed position and performance see http://j.mp/1m2j4LP
    which represents all 83 closed positions recommended to subscribers. The link is not dynamically updated and is only provided as a snapshot for you
    Apr 28, 2014. 01:56 PM | Likes Like |Link to Comment
  • Cook Does Icahn's Dirty Work At Apple [View article]
    Their assessments are all interesting, but for the most part fairly non-committal, other than suggesting that Tim Cook, being an operations person, has greater insight into iPad sales.

    However, believing that sales of iPads will eclipse sales of PCs may be true, but also irrelevant. What matters are sales, profits and margins. While possibly eclipsing PC sales it's far more important that iPad sales numbers meet expectations and not continue tom decline.
    Apr 28, 2014. 12:34 PM | Likes Like |Link to Comment
  • Cook Does Icahn's Dirty Work At Apple [View article]
    That's what my wife says, she did graduate school there and then they used to say the same thing when she was at UC Berkeley

    I just feel badly for people at Cornell and Penn, who think that they go to an Ivy League.
    Apr 28, 2014. 11:22 AM | 1 Like Like |Link to Comment
  • Cook Does Icahn's Dirty Work At Apple [View article]
    Thanks, but I have to qualify by saying that I was never a good one.

    Did I mention Harvard?
    Apr 28, 2014. 11:00 AM | Likes Like |Link to Comment
  • Cook Does Icahn's Dirty Work At Apple [View article]
    To really interpret the data reported by Apple Insider you have to use the proper time frames. Talk about the abstract, but that is what they have offered and that is what you have taken away from their "reporting."

    They also conveniently forgot to factor out the additional $50 billion in cash reserves that were added during that time that contributed to the increase in market capitalization and that is completely unrelated to a share buyback.

    The report of share buy backs for the 4 quarters cited ended on February 6, 2014. It was at that time that Apple reported having spent the $44 Billion in buybacks over the period of the previous 4 quarters.

    It was only after the stock split announcement that Apple shares have out-performed the S&P 500 for the post Feb. 7, 2014 period. It's much more likely that the news of the stock split propelled shares higher than any other news. Certainly earnings and sales weren't blockbuster and the buy back information was already filly digested.

    If you look at comparative performance, for the one year period ending on Feb. 6, 2014, Apple trailed the S&P 500 by 1.5%. Therefore, during the time frame of those buybacks there is no evidence, nor any correlation that the buy backs offered any advantage.

    The buyback data since February 6, 2014 isn't yet available. However, from February 7, 2014 to April 23, 2014 (the day in which Apple announced their stock split after hours), Apple trailed the S&P 500 by about 3.4%

    So while numbers can be thrown around, as Apple Insider has done, they conveniently ignored the need to compare those numbers to something.

    Suddenly the performance isn't really that impressive when context is added and taken out of the abstract.
    Apr 27, 2014. 08:57 PM | 1 Like Like |Link to Comment
  • How Will Apple's Stock Split Impact Its Shareholders? [View article]
    Thanks, but I (and my mother) always knew that I was destined for greatness. She always made certain there was enough room in the britches for future expansion.
    Apr 27, 2014. 08:05 PM | 1 Like Like |Link to Comment
  • How Will Apple's Stock Split Impact Its Shareholders? [View article]
    Dark pools will likely not allow the true nature and extent of institutional trading to be known.
    Apr 27, 2014. 07:32 PM | Likes Like |Link to Comment
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