I am a reverse Midas
Earlier this year I bought shares of Apple at $72. Barring some major blunder by Apple, I was pretty sure the price would continue to rise for the foreseeable future. So of course since then it has steadily gone down, for no reason I can think of. Last week it closed below $60.
This is consistent with my track record as a prognosticator. In 1985, I thought Tommy Hearns would beat Marvin Hagler in their middleweight championship fight. Hagler won in a thrilling and brutal three-round knockout. In the 1990s, I invested twice in companies I worked for and was excited about. Those companies are now defunct. In 2004, I thought Howard Dean would win the Democratic nomination and rescue this country. And look how that turned out. Whether the subject is sports, business, or politics, I have an uncanny knack for guessing wrong.
If you ask me, I’ll tell you I’m still bullish about Apple in 2006, because that’s the truth. I’ll remind you of the wonderful things Apple has already announced and released in the last six months. I’ll assure you Steve Jobs has great surprises up his sleeve, because he always, always does. But I won’t blame you for being skeptical, considering the source.
