2016-01-02

Jim Chanos: 'I Don't Think Apple's a Value Stock' (2013 video)

Apple stock (NASDAQ: AAPL) closed down at $105.26 Thursday, December 31, 2015, as Apple turned in its first negative year since 2008 (CNBC). Below is a 2013 video of investor, Jim Chanos.



Published on Sep 17, 2013 - A look backIn the 2 year old video above,  Kynikos Associates President and Founder Jim Chanos discusses some of his long positions and factoring in valuation when purchasing a stock. He speaks with Erik Schatzker, Stephanie Ruhle and Cory Johnson on Bloomberg Television's "Market Makers." (Source: Bloomberg)

Re: Tech, Investing, Capitalizing R&D through Acquisitions, Valuations

Apple (nasdaq: AAPL) One-year Stock Chart
Apple (NASDAQ: AAPL) One-year Stock Chart (source: google.com)
Apple Investors Want Juicier Holiday - WSJ - Dec. 23, 2015"What do Apple Inc. investors want this holiday season? Growth, a strong product cycle and a bigger stock buyback...  Mr. Ives joins a host of analysts who have recently downgraded their views on Apple’s shares in recent weeks. On Tuesday, Cowen & Co. analyst Timothy Arcuri cut his 12-month price target on Apple shares to $130 from $135. Last week, at least five other analysts lowered their price views amid what they see as indications of underwhelming iPhone sales...."

What's a value stock? Shares of a company with solid fundamentals that are priced below those of its peers, based on analysis of price/earnings ratio, yield, and other factors.

"Factor investing is at least as old as Graham and Dodd’s early treatises on stock selection from the 1930’s. Warren Buffett has been running a portfolio based on factor investing for 40 years, only he found his stocks manually as opposed to quantitatively. James O’Shaughnessy wrote the seminal factor investing book, What Works On Wall Street, in the 1990’s and has since revised it several times. Ironically, the popularity of factor tilts (Smart Beta ETFs are now a half-trillion dollar category) may be the strategy’s biggest risk – the premiums for premiums are being compressed now that everyone is betting on the same attributes to outperform... To paraphrase Jesse Livermore, there is nothing new in Wall Street. There can’t be because factor investing is as old as the hills. Whatever happens in the stock market today has happened before and will happen again. Investors have been trying to buy a dollar for 80 cents since the beginning of time." -- Josh Brown, @reformedbroker Five Things Smart Beta Can’t Do For You

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