Want to start a hedge fund? Here's a tip to get you started: Just buy shares of Apple, and you'll immediately be just like hundreds of your soon-to-be competitors.
Apple is the biggest public company in America -- so big that it distorts the profitability of the entire S&P 500 stock index, and so big that it makes up about 16 percent of the Nasdaq 100 index of the biggest tech stocks.
Given that, it's probably not surprising that Apple is also the stock hedge funds love to own the most, according to a new study by Goldman Sachs (helpfully presented to the world by Zero Hedge).
At the end of 2011, Apple was in the portfolios of a record 216 different hedge funds, the report finds. Apple's size and popularity mean that hedge funds, along with much of the rest of the stock market, depend heavily on the company's continued health.
"As Apple goes, so goes the entire hedge fund space," Zero Hedge writes. That may be a bit hyperbolic -- there are thousands of hedge funds out there -- but it's not much of an exaggeration either....
Knowledge is power. Check out http://www.huffingtonpost.com/2012/02/23/apple-is-the-hedge-fund-fund-favorite_n_1296635.html
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