Hedgies who aren't even smart enough to flip Treasuries are launching the dumbest move of all: going all in on Apple at the height of its market dominance. The most valuable company in the world can be easily dethroned by cheap Asian smartphones. Retail investors used to be the dumb money but now hedge funds have claimed the title. This phenomenon of institutions following retail investors over a cliff at high speed should be preserved for posterity.
Thanks for nothing, hedge fund idiots.
Full disclosure: No position in hedge funds or AAPL at this time.