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Great for Bob. Congrats!!
Great for Bob. Congrats!!
yes it might hit $500 for awhile, but gaining $50 isn't worth the risk of it dropping hundreds like it did a few years ago when it went from around $300 to $83 almost overnight).
I bought Apple stocks in june 1998 for $14 and I invested over 6500 bucks in PowerBook G3 292Mhz 128Mb RAM 8Gb HD 14.1" (that was top model) at the same time.Wirelessly posted (Mozilla/5.0 (iPhone; CPU iPhone OS 5_0_1 like Mac OS X) AppleWebKit/534.46 (KHTML, like Gecko) Version/5.1 Mobile/9A405 Safari/7534.48.3)
For those jealous people, everyone had a chance to buy these shares at $6.00, but there were doubters then. Be happy for him!!
It's a good time to cash out. He knows with Steve gone, Apple can only go down in the long run and they're already massively over-valued as it is. They were $83 a share just a few years ago. Over $450 a share? Come on. It would be stupid to invest at that price (and yes there are people at work I know buying it because someone told them it was a $500 stock...yes it might hit $500 for awhile, but gaining $50 isn't worth the risk of it dropping hundreds like it did a few years ago when it went from around $300 to $83 almost overnight). And this time it will NOT come back because Apple is now run by the same types that destroyed it the first time around. Apple has a few more years of profitability based on current products like the iPhone and iPad, but without a visionary to keep the products coming, it's only a matter of time and the stock will start slipping LONG before the profits end (and you don't make a dime when it drops...you lose your shirt and everything else you put into it). Clearly, Bob Mansfield is fully aware of this as the hardware chief and he's taking it to the bank. Kudos to Bob.![]()
It's a good time to cash out. He knows with Steve gone, Apple can only go down in the long run and they're already massively over-valued as it is. They were $83 a share just a few years ago. Over $450 a share? Come on. It would be stupid to invest at that price (and yes there are people at work I know buying it because someone told them it was a $500 stock...yes it might hit $500 for awhile, but gaining $50 isn't worth the risk of it dropping hundreds like it did a few years ago when it went from around $300 to $83 almost overnight). And this time it will NOT come back because Apple is now run by the same types that destroyed it the first time around. Apple has a few more years of profitability based on current products like the iPhone and iPad, but without a visionary to keep the products coming, it's only a matter of time and the stock will start slipping LONG before the profits end (and you don't make a dime when it drops...you lose your shirt and everything else you put into it). Clearly, Bob Mansfield is fully aware of this as the hardware chief and he's taking it to the bank. Kudos to Bob.![]()
Did you even read the story before you posted?
I hate hearing about other people getting rich.. What I would do for a handful of AAPL stocks!!
I almost bought a block in 1997.
I bought Netscape instead.
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No one can call him an idiot for making out with over 12 million, really.
His bro looks just as stoked:
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Hindsight is always 20/20, my friend. You probably did the best with the information you had at the time.
Heck, I would've started Facebook in 2002 if I'd known...
Remember AAPL hit $3 in 1997. People still invested when it got to $83. Its a strong company now.
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I suppose you think the world will end in december aswell so everyone sell up and buy a bunker!
The number one reason for Apple executives to sell most of their stock is diversification. Having all your eggs in one basket shows commitment, but also financial stupidity. This guy has regularly diversified when he had the option and when the stock price was in a short term recent high. Even with the $12.5m he sold he has a portfolio of more than $114m remaining of just that one stock. So I will not be surprised if he exercises his next option and sells all of it just after some public news event that spikes the stock price.
Nope. Those 2014, 2018 whatever options are themselves securities with a current mark to market value, even if somewhat illiquid. That sits in a brokerage account and can be leveraged to purchase other stock. Let's say the present value of the $114m in options is about $5m. The person can get a margin loan for about $15m and buy stuff, invest in other securities like Facebook or Microsoft stock, or even a cash equivalent like muni bonds and such, the income from which more than covers the margin loan interest.Fact is that you can't buy a nice house, or a nice car, with stock options. You have to turn the stock options into cash first.
apropos of nothing, you have the best signature I've seen in my 9 years on this site.
The guy can probably do that with a month's salary...
Bob previously worked at SGI and Raycer Graphics.So I will not be surprised if he exercises his next option and sells all of it just after some public news event that spikes the stock price.
He earned it, now he wants to RECEIVE it. Look at the fate of folks who kept their stock in GM or Kodak because they were "big companies" or were "true believers".
let's all have a thought for all other Apple employees, sometimes working their ass off from Monday to Sunday to make these guys richer...