Comments on: The Outsider: Why this top Apple analyst is different

By: Ted K

Ted K — Sat, 24 Dec 2011 19:05:12 +0000

Om,

You’re far too kind to Steffen Jobs, whose chosen avatar says it all: “I’m a jackass!” Horace does an amazing job, I look forward to each of his insightful, well-crafted posts. (And, yes, I’m a stock holder.)

By: Lex

Lex — Sat, 24 Dec 2011 00:58:26 +0000

Horace is not a typical analyst as he doesn’t work for a securities firm. As we know with what happened to Henry Blodget back when he worked as a securities analyst, those analysts who work for securities firms can have a major conflict which clouds their judgment. Horace is independent and it appears that he provides his analysis so that he can have a successful blog (and maybe ads) and maybe to fuel his speaking engagements, etc. I would rather listen to that kind of analysts than the traditional one working for a securities firm. P.S., like Horace, I too attended Tufts.

By: kan

kan — Wed, 21 Dec 2011 02:38:27 +0000

Typical GigaOM. There are good analysts and bad analysts and here is a good analyst. Sorry but step back – what role do analysts play? Why do they provide analysis for free?
What is in it for them?

By: Joe Riconosciuto

Joe Riconosciuto — Tue, 20 Dec 2011 21:32:40 +0000

You’re totally off base with the performance. I know it seems like AAPL should be doing even better than it is, given the multiple compression. But it has done remarkably well over any relevant time horizon. I compared AAPL with AMZN, GOOG, and IBM over 1,2,3,4,5, and 10 year horizons. Guess what – Apple wins against ALL THREE in almost every time horizon. The only exceptions are slight nudges by IBM this year and AMZN over the 5 year horizon. Otherwise it’s a clean sweep, mostly in convincing fashion.

@OM I have the table if you’d like. I don’t know how to post images to your site.

By: Joe, Winfield IL

Joe, Winfield IL — Tue, 20 Dec 2011 21:27:08 +0000

What is your foundation for the claim that AAPL is underperforming? It has suffered multiple compression despite accelerating earnings, but it has still grown tremendously. Other than a slight beat by IBM this year and a slight beat by AMZN over the past 5 years, AAPL soundly defeats ALL THREE of these companies on 1,2,3,4,5, and 10 year historical returns.

By: RKU

RKU — Tue, 20 Dec 2011 21:25:40 +0000

Nice article and quotes.

I like that Horace lays out his methodology (or his thinking) when he makes statements. And if you don’t agree with it, post a comment on the relevant blog post, and you can debate it with him. Also, he doesn’t seem to worry about being wrong. I think that’s the perfect analyst.

By: Jon

Jon — Tue, 20 Dec 2011 21:14:39 +0000

He is also on a podcast called Critical Path where he talks about a lot of the same topics as his blog. Definitely worth checking out

By: Om Malik

Om Malik — Tue, 20 Dec 2011 15:59:34 +0000

Steffen

While you are entitled to your opinions, I wonder how can you talk with the surety that none of his readers have any money or not professional money managers. I think you are making arguments with little or no basis in reality. As for other stocks outperforming Apple in the future, I digress.

By: eric perlberg

eric perlberg — Tue, 20 Dec 2011 15:58:38 +0000

What I like about Horace is that a) he’s modest and b) he strives to find facts and builds arguments based on these facts, c) he doesn’t engage in unsupported opinions and hyperbole and d) he is not afraid of being wrong and admits it when he is. These personality characteristics are rarely found in bloggers, blog commentators or “analysts” in my experience. I wish I had his level of integrity.

By: Om Malik

Om Malik — Tue, 20 Dec 2011 15:57:55 +0000

Canucker

Well said. I think the facts speak for themselves. Horace is pretty spot on and if you read him all the time you know that cheerleading label is uncalled for.