From Yahoo: The slump in Apple Inc's share price from its
September high has badly dented the returns of hundreds of mutual funds that
had maintained outsized holdings of the stock. But some went sour on the
iPhone-maker just in time.
Of the 321 funds that had more than 5 percent of their
assets in Apple shares at the beginning of 2012, 53 of them - or slightly more
than 16 percent – looked at the Tarot cards and significantly cut back
their weighting of the company before the plunge gained momentum, according to
data from Morningstar.
Whether it was a case of simple risk management, concerns
that the company's share price had peaked, or a bit of luck, fund managers who
drained Apple from their portfolios helped drive down the price of the stock.
As a result of their early shift in sentiment, they appear quite prescient now….
Read all about it at http://finance.yahoo.com/news/anlaysis-funds-saw-apples-decline-174717417.html
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