Wednesday, August 18, 2010

Passing through, just passing through

Haven't spent much time at all following the market lately. Just enjoying a wonderful summer, even with vacation over and so much to do. But one of the best pieces I've read lately comes from Rick Aristotle Munarriz, who takes a closer look at Apple and all the scuttlebutt about its enormous cash balance.

Munarriz is generally repulsed by the idea of buybacks and one-time dividends and I agree with him. It's pathetic enough that shareholders — I'm not one of them — would not be satisfied with tripling their investments in AAPL over the past couple of years. But now they want more?

I'm glad Steve Jobs is holding down the fort and refusing to change anything. They've done mostly unprecedented work there. If it ain't broke ...