Two years after Fred Wilson dumped AAPL...

I had a lot of shares when Apple was at $199 in 2008.

When the bottom started falling out, I sold them at $149. I still made a lot of money.

I foolishly bought back in at $112 because I thought the market had bottomed out, then watched it sink into the 80s. It finally went back up, passed $112, and I sold it all, considering myself lucky for getting that money out, and have since kicked myself in the butt daily.

I won't go back in, though, because I firmly believe it's all rigged against the small investor, and there will be another financial crisis in the near future to bring it all back to earth. At this late age, I can't afford to lose anymore in a stacked stock market

I've been holding to 300 shares of AAPL since 2003... when should I think about selling?

The real problem here is that people will always tie Steve Jobs presence to Apple's financial well being. The company isn't run by one man and they have cultivated some great employees over the years. Apple will continue to be a juggernaut in the industry long after Steve sheds his mortal coil or puts his feet up on a beach and retires.

I bought in at $89 and I'm glad I've held onto those shares.

Well, seeing how bad pancreatic tumor is and how high its fatalities run, he thought Steve Jobs would die soon and so he unloaded his shares before they lose any value. It's a very reasonable bet and Steve Jobs did pull through just then, although he had some more problems this year. If Steve Jobs dies in the next 2-3 years, the shares will definitely take a hit but my guess is there's already a clear strategy laid out of the direction Apple will take in the next 5 years, but it's all psychology in the stock market and shareholders might be spooked and jump ship.

Maybe, it is really that Fred just isn't that wise after all.

He bought back into Google, which didn't see the same returns but in my opinion can be bigger with the various projects they undertake.

No question it sucks for him that he sold at $91 but sh!t happens he should just throw some money into Facebook there's a company that'll rule the world soon enough

Venture capitalist I'd be interested to know what he's invested in!

You know I'm kicking myself because I have wanted shares in Apple for the last few years but have just not had enough disposable income to invest but I would feel a lot worse having had them for that price and selling them for a bogus principle like Freds!

It gets even better when you follow the linked article... I'll just repost a few comments:

henryyates: "Great call re Apple. Pays to follow your instincts and actually transact on your gut feeling."

toddsavage: "You couldn't have been
more right on Apple."
->Fred Wilson's reply to toddsavage: "I have to thank my friends who helped me make that decision" (wonder if he's still thanking them...)

And last (but not least)...
Cheyne: "I absolutely agree with you here about AAPL. I don't see anyone having any real confidence in this company's future."

HE thought it was a good reason. He was wrong. It is called "predicting". Like baseball, anyone predicting/hitting anything will be mostly incorrect most of the time...