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  • A worrying trend or a contrarian indicator? Leon Cooperman's Omega Advisors was far from the only big hedge fund to unload its Apple (AAPL) position in Q4. Joining Omega were Dan Loeb's Third Point, Thomas Steyer's Farallon Capital, Barry Rosenstein's Jana Partners, John Burbank's Passport Capital, and Eric Mindich's Elton Park Capital. On the other hand, David Einhorn's Greenlight Capital raised its stake to 1.3M shares from 1.1M and bought 275K call options ahead of its Prop. 2 suit (13F). Apple has historically been a hedge fund darling[View news story]
    Although I can't remember specifics, the other day I read where some funds have as much as 15% of thier capital in Apple stock. Any mutual fund with that much in one stock is a high risk mutual fund and I suspect they are now "unloading" because they are going bck to investment 101, i.e. diversify. Never buy any mutual fund that has such a significent portion of their capital in one stock. Most sucessful individual investors do not invest this way.
    Feb 14, 2013. 09:42 PM | 1 Like Like |Link to Comment
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