Apple, ECB, Stock prices, Bailouts, bubbles, QE, Money Printing, Ponzi

Apple, ECB, Stock prices, Bailouts, bubbles, QE, Money Printing, Ponzi
Back in April, I wrote a piece about Apple Inc. I suggested that the company’s stock price was a little frothy. I suggested caution was in order. At time of writing that piece, the company’s stock price was at about $635, just a shade off its high.
I got crucified for that piece. Virtually everyone commenting said that my comparisons were inappropriate, that I couldn’t possibly own the company’s products, that I didn’t understand the company’s value-drivers. The consensus of opinion was that investors should continue to add, with caution, to their portfolios. Since that discussion, the company’s stock price dropped around $100 in a matter of weeks, before recovering some of the lost ground since.
And my view hasn’t changed. For the sake of absolute clarity, let me repeat what I said last time. I love this company. I love its products. I own the lot: iPhone, MacBook Pro, iPad, iPod. This company is so good that they could come up with pretty much any three letter word, stick an i in front of it, and I’d be in the line to buy it, whatever it was. If Apple produced a cheese grater, it would be the best cheese grater in the world.
But you need to put those things to one side when considering your stock portfolio. You need to operate with reason, not adoration.