209 Hedge Funds Rejoice As Apple Passes $500

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?