Known by All, Understood by Few
by Horace Dediu
Erick Maronak, manager of the Victory Large Cap Growth Fund, says Apple is the best-run company in the U.S.
I would add it's also almost the biggest and at the same time least understood. A lack of understanding is reflected in a high risk rating, which is itself shown in the company's Beta.
All told, that makes Apple the fourth largest market cap in the US with the volatility and apparent risk of a startup.
Asymmetries of information don't get better than this.
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