209 Hedge Funds Rejoice As Apple Passes $500

Tyler Durden's picture

Presented with little comment - AAPL trading $503.34:

Why is this good news for the "financial industry?" Because Apple is
now the financial industry, with a record 209 hedge funds holding it (a number that has likely surged in the past 3 months). As Apple
goes, so goes not only the entire Tech index, the NASDAPPLE, the global capital markets, but the entire 2 and 20 model. We wonder how long until LPs ask their hedge fund advisors why they paying management fees when everyone can just put their money into AAPL outright and bypass the whole "hegde fund" mockery.

This earlier discussion may be worth revisiting on AAPL's exponential run...or this on its dominance of the index and the economy...or this on where growth is being driven from?

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Mr Lennon Hendrix's picture

Gen X stopped paying their mortgages to buy MacBook Pros because their Graphic Design business will pick up anyday now.  Gen Y is living at home with their parents after dropping out of college and instead of paying their loans off they spent their allowance on ipads they look at in the corner Starbucks to try and seem cool when they see their (facebook) friends (in real life).  Gen Z has never had a job since they entered the workforce three years ago, but they do enjoy using their iphones to discuss how awesome Madonna's halftime show was.  "It was biblically epic!"

Don Birnam's picture

Mr. L-H, your perspicacious post ought -- nay, must -- be used as a caption for a Banzai creation or some other visual depicting the banality of It All, as, frankly, it sums up Things-i like no other.

...And I have no doubt the X-Y-Z Axis, in their convoluted way, agrees.

http://ny.racked.com/uploads/2009_06_iphrenzy.jpg

Well done.

Mr Lennon Hendrix's picture

If we all buy AAPL, and no one sells anything, we will get to DJ 36,000 in no time!

Whoa Dammit's picture

iDOW is celebrating Apple management's financial feat of squeezing profits out of pauper peasants, both here (buyers) and abroad (laborers).  Sad that.

Black Friday's picture

Truly a sign of desperation.

The market is hoping APPL will save them with the next Ifraud. They used to make rock solid products when their stock was under $20.00 and they were truly undervalued, now the complete opposite.

 

I am a Man I am Forty's picture

tell me a company that is a better buy that is out there

Mr Lennon Hendrix's picture

You seek the Robotrader.  It will show you the way.

I Am Not a Copper Top's picture

Robo!  You seek Robo!  Take you to him I can...

urbanelf's picture

Terra Nitrogen, SeaDrill, Newmont Mining.  Problem is, however, that they pay you these annoying dividends and then you have to figure out how to spend them.

dark pools of soros's picture

yeah the 4S is a pile of shit... what a tool fanboy

ZeroPower's picture

Funds 'frontrunning' ahead of ipad3 and iphone5 news releases. $600 easy to see from here. Not supporting the move, just discussing the reality of the situation. Personally i quite hate the company.

gjp's picture

really, it's practically linear up for American hedonism and consumer stocks.  $5 coffees and a proliferation of electronic toys.  At least the internet boom had a pretense of productivity enhancement.  Today it is nothing but circle jerk social networking and angry birds.  Pathetic.  Yet if Europe struggles to actually confront some degree of financial reality, it's an excuse to buy 'safe' American assets.  And if Europe manages to kick the can again, well yes, the answer is again to buy American assets because who are the real kings of can-kicking?  What a disgusting spectacle.

XenoFrog's picture

It baffles me what sort of person can afford a $500 stock.  What does Joe Smith expect with his 1-5 shares?

trade the day's picture

Joe Smith had a chance to buy at $80 a few years ago

Mr Lennon Hendrix's picture

And his wife never shuts up about it.

monoloco's picture

I got in at close to 80, and I'm sure glad I didn't listen to Reggie Middleton.

dwdollar's picture

The world baby!!! LOL...

crawldaddy's picture

person? there are very few "people" left in the market.

jekyll island's picture

POS got down to $94 during the panic of 2008.  What a glorious buying opportunity that was.  That is why having some cash reserves is a good idea, buy the stock when it is stupid cheap. 

 

 

tarsubil's picture

Early retirement. One way or the other.

"Good evening. This is Glenn Beck coming to you from the American Patriot Network studios in Washington, DC. Tonight, breaking news. International terrorist and public enemy Joe Smith was retired on the streets of Los Angeles early this morning after a shoot out with a Federal Blade Runner. Due to the agent's professionalism, no innocents were harmed in the altercation. America can sleep easier now that one of its many domestic enemies has been retired.

"In other news, and somewhat ironically, Apple patriot stock hits an all time high of 5,000,000 Ameros as Chairman Ryan leads cheers welcoming in a new age of prosperity while also cautioning that there may still be need to 'tighten our belts'."

SheepDog-One's picture

Yea just thinking the same thing, who the HELL picks up the phone and says 'Hi broker I got $10,000 here what do you suggest? Oh 20 whole shares of Apple? You say thats a sure double from here soon? Ok buy whatever price $505 $510 who cares load me up with 19 or 20 shares.'

Insane.

Ahwooga's picture

Share split soon then. Or not, after all when the index can't even out together more than one -0.5% down day back to back who cares about fundamentals? At this rate fundamentals will become a historical oddity in the Iencyclopedia brittanica next to the dodo bird . To the moon jeeves!

dwdollar's picture

Also... I can imagine in some hipster wannabe tech start ups that will never make it, if you don't own a few shares and an IPad you're an outcast.

LongSoupLine's picture

Okay, here's the "logic hammer in the head" question of the day:

 

 

You have $500...spend it on:

A. One (1) share of AAPL "hoping" for a double to $1000?

B. $500 worth of silver (physical of course, duh) and not worry about the whole "hope for a double" thingy?

ebworthen's picture

Pension funds (CALPERS, CALSTERS) and mundane mutual funds are probably buying in right now.

If I had bought it above 50 I'd be selling it today. 

Steve Jobs is gone - AAPL is parabolic - and isn't GOLD.

Gubbmint Cheese's picture

Does it run adobe flash yet?

smiler03's picture

Really? Those farmville types must be gutted when they switch their new toy on.

edit: Seems I'm wrong, there's an app for that.

Conrad Murray's picture

Hipsters should be hung with banksters and politicians. Fucking douchebag enablers.

dwdollar's picture

Check out TWiT.TV if you want to drown in your vomit sometime...

http://twit.tv/

Mr Lennon Hendrix's picture

Hipsters, hippies, yuppies, they all need a reality check. 

tarsubil's picture

One share of AAPL = 25 lap dances. Which would you rather have?

francis_sawyer's picture

did you say "lap" dances or "app" dances?

Conrad Murray's picture

Another 1000 rounds or 6 months of food.

tarsubil's picture

The topic is which is the best way to waste money.

crawldaddy's picture

people are sad, who knew that the key to sucess was simply a shiny box. Apple simply puts existing tech in shiny covers and people go crazy over it.

but then again, these are the same people that buy bottled water. Slap a picture of a mountain stream on tap water and sell it for a buck a pop.

 

 

kito's picture

even candy apples, covered by that glazed, sweet deliciousness, eventually rot..............

longdong silver's picture

.

This should be the silver chart.

If not for the efforts of the crooked crew

CH1's picture

Screaming short.

Just wish I knew how long before the irrational exhuberance breaks.

peekcrackers's picture

ridiculous

a OZ of gold is still better in my hand

Dr. Engali's picture

It is going to be funny to see them all scurry out like cockroaches when they run out of bigger fools.

longdong silver's picture

so little volume for such a large move

me perplexed