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Apple (AAPL) bulls might be interested/relieved/concerned to know the stock's decline was enough...
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Tuesday, February 5, 3:06 PM ETApple (AAPL) bulls might be interested/relieved/concerned to know the stock's decline was enough to shake Whitney Tilson out of his long position (annual letter). Into 2013, his fund's largest holdings show a decided tilt towards financials - with BRK.B, AIG, C, and GS making the top 5. He's also an investor in Kyle Bass' fund making a big bet on a weaker yen and higher Japanese interest rates.
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Never sell just because a stock is falling. Find out why, because it may have hit bottom.
So, although he seems like a smart guy and has a decent track record as an investor, he has made some almost perfectly wrong moves in the past couple years.
Besides, why do we follow these guys? More than 75% of hedge funds UNDERPERFORMED the S&P last year. They are largely followers, not leaders...
Tilson blames his shorts for the poor performance but his long performance is horrible too. Tilson co-managed a mutual fund (TILFX) until mid-2012 which is in the bottom 3% for both the last 3- and 5-year periods.