Two years after Fred Wilson dumped AAPL...
We all make predictions that don't turn out as planned. For example, this morning I said I'd have a few beers, enjoy a barbeque in the sun with friends and perhaps go to the cinema tonight. Turns out I have two daughters under the age of 3, so there went my day. But at least I'm not kicking myself like Fred Wilson must be.
Wilson is the venture capitalist managing partner of Union Square Ventures who, two years ago, famously announced that he was selling all his shares in Apple because he didn't believe the company was "being straight with investors" over Steve Jobs's health. "My average price on my entire position in Apple is US$96, so I'll take a small loss on this and a small gain on the stock I bought during the meltdown last fall."
He sold at $91.36 -- and at close yesterday, Apple shares were at $338.08, up $246.72 or 270 percent. He sold Google at the same time but announced a short time later he was buying back into the search giant. See the chart above for how that one worked out for him.
Maybe he only had one share in Apple (although $246.72 would go nearly halfway towards a new iPad 2). Maybe he's happy with that 50 percent-plus gain in Google's value. Or maybe he's still kicking himself now. Me, I think we'll have that barbeque tomorrow.
[Via Daring Fireball]
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