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11-22-2013, 02:12 AM #1
Hedge Fund Manager David Einhorn Believes Apple Could Do More with its Capital
Although he isn’t suing Apple over its massive amount of cash and reserves anymore, hedge fund manager David Einhorn still spoke out on the issue recently stating he still doesn’t believe the company is doing enough for investors. Eionhorn’s comments were made in an appearance on CNBC, where he said he would give Apple a grade of “C+” on the matter of capital management. He added that earlier this year, when he sued Apple and accused the company of having a problem with hoarding cash, he would have given them a grade of “D-“ instead. According to him:
More could be done that would unlock probably even more value, but it's not so bad at this point that I want to complain about it.
Einhorn refused to say whether he agrees with a recent push by fellow investor Carl Icahn for Apple to spend all of its $150 billion in a share buyback. He did say that his fund is still long on Apple though. He was also complimentary of Apple’s latest flagship smartphone, the iPhone 5S. In his interview, he revealed he owns an iPhone 5S and called the device “terrific.”
Last edited by Akshay Masand; 11-22-2013 at 02:16 AM.
11-22-2013, 11:29 AM #2
I wouldn't trust a hedge fund manager as far as I could throw an aircraft carrier.
Also, based on the headshot, this guy looks like he just stopped getting an allowance from his parents. I would trust ANY financial advice from that kid!
11-22-2013, 11:39 AM #3
I think it goes without saying that Apple could "do more with their money." Instead they let it sit as a cash hoard. That is entirely up to them. No offense but I think history would show that they definitely know what they are doing at this point. They were good and fell. They are not considered great and continue to grow. Instead of saying things like they could do more...how about saying exactly what they could do? Let us critique your opinions not your obvious statement.