![]() Yet, selling a stock can be the biggest mistake there is. When it comes to investing mistakes, most people think in terms of what’s been bought, not sold. ![]() And Apple beat nearly every last one of them.” We’re talking about many trillions of dollars in all kinds of investment vehicles with all kinds of fees, managed by extremely smart people with unlimited research budgets and super smart employees, who all work extremely hard, and are all highly incentivized to produce great results. ![]() “Over the past 5 years, with exceptions that you could probably count on two hands, Apple has outperformed the entire hedge fund industry, every one of the 10,000+ mutual funds, the passive funds at Vanguard and Blackrock, the most prestigious private equity funds, and the vast majority of venture capital funds in Silicon Valley. ![]() John Huber of Saber Capital touched on this in his annual letter: ![]()
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December 2022
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