It’s nearly a year old now, but this story of self-immolation by internet Apple guru Andy Zaky still makes for absolutely fascinating reading.
I recall avidly reading Andy Zaky’s free Bullish Cross articles in 2011 and early 2012, right before he nailed Apple’s earnings and the stock left Earth’s atmosphere.
It seems to me that being a good investor requires humility, which comes from experience. But being a good finance writer requires bold opinions. When you mix the two and become an investor with bold opinions, things eventually turn out badly.
John Paulson got crushed on his gold positions. Bill Ackman got his bottom spanked on JCP. Phil Falcone continues to insist that LightSquared is the future. Even now when you speak to some of the LTCM guys (immortalised in the book When Genius Failed), they still say that they were right and the market was wrong. Absolutely remarkable.
Read the story of his fall from grace here: