At times like these, I like to remind investors about my friend “Pete.”
I last told you about him and the colossal mistake he made in our Dec. 15 chat.
You may recall that the former Wall Streeter actually passed on Apple Inc. (AAPL) in the summer of 1997 because he felt the storied computing firm had already seen its best days.
Of course, we now know that Apple is one of the great investing success stories of all time.
I’m bringing this up today because I see a similar mindset taking hold among investors. After a rapid selloff in February and March, the market has been rebounding nicely.
And yet, many are afraid to pull the trigger, even on a company as valuable and built for the long haul as Apple.