In the mid-90s, Apple Computer’s financial reputation was in the gutter, with stock selling for under $20 per share — and I told anyone who’d listen that it was undervalued and they should buy. At the time, all of my own “spare” income went to paying my son’s tuition, in the liberal belief that a good education was essential for his future. As confident as I was in Apple’s innate strengths, I never imagined how powerfully they’d come to dominate the technology and media business in the following decade. In hindsight, I should have taken my own advice, to the extreme.
Here’s the crazy truth. If I had pulled my son out of school and let him lie around all day paying video games, and diverted all that tuition money into Apple stocks, today he wouldn’t “need” an education, and I wouldn’t need to work. We could live quite comfortably off that timely investment, with Apple stock currently selling for over $325 per share — and some thinking it’s undervalued at that.
Ain’t hindsight a bull?
