Had a cordial dinner with Tim last night. We pushed hard for a 150 billion buyback. We decided to continue dialogue in about three weeks.— Carl Icahn (@Carl_C_Icahn) October 1, 2013
And, of course, don't forget ...
I'll be on CNBC at noon.— Carl Icahn (@Carl_C_Icahn) October 1, 2013I can't figure out what's more toxic, Carl Icahn's potentially unethical activities around AAPL or the poisonous response from the media, coupled with something less than apathy from the general public. Here's a guy who not only has access to a company that few, if any, of us will ever achieve, but he knows what will happen to the subject of his fodder the second he publishes his Tweets. And the public silently plays along. Where's the outrage? TheStreet contributor Bret Kenwell said it best on Twitter ...
@Rocco_TheStreet Remember, it's only manipulation if it's to the downside :-)— Bret Kenwell (@BretKenwell) October 1, 2013If Carl Icahn was on a campaign to tell the world how bad Apple sucks, there'd be mass outrage. I would be lauded for being one of the few to call him out on the carpet. But he's pumping in the right direction. He's receiving an edge that tends toward the broad sentiment. So it's all good. One day you're the foot, next day you're the ass. You cannot let injustice slide only when it suits you because, at some point, allowing the sort of culture that exists on Wall Street to persist will come back to bite us all. These guys see this cash. They see the "return" of it to shareholders as icing on the cake in some cases (presumably Icahn's) or a way to mitigate a position that either went south or didn't perform as well as anticipated (presumably in David Einhorn's case). When they speak of "unlocking value" and such, it's not righteous. It's all about them. They're in your corner until they're not in it any longer. And Tim Cook rides along for the dog and pony show. Despite my recent Apple bullishness, I still long for the days of Steve Jobs at the helm. Follow @rocco_thestreet
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV