1. Michael Essany's Avatar

    If you can afford it, buy it. At least that seems to be the message from billionaire investor Carl Icahn this week.

    The bargain-savvy investor went in for the kill on Wednesday, reportedly buying shares of Apple during its epic beat-down on Wall Street. At one point, AAPL was down $30 per share (or 6%) the day after Apple disappointed investors by introducing a "cheap" iPhone 5C that apparently wasn't cheap enough.

    On Thursday, Icahn told CNBC's "Closing Bell" that he snapped up "quite a bit" of Apple stock on Wednesday. He called the decision an easy one to make.

    As MMi reported last month, Icahn already holds a massive investment in the company. By some accounts, Icahn - who is worth $20 billion - has taken a position of at least $1 billion in Apple.

    "This is a no-brainer to go buy stock in a company that can go borrow" at a low rate, Icahn recently observed according to the Wall Street Journal. "Buy the company here and even without earnings growth, we think it ought to be worth $625."

    Shares of AAPL closed at $472.69 on Thursday.

    Source: USA Today
    2013-09-13 07:32 AM
  2. bigboyz's Avatar
    This guy worries me. He seems harmless but I feel he is trying to do more than profit. Time will tell.
    2013-09-13 10:58 PM