Michael J. De La Merced for NYT’s DealBook discussing hedge fund manager David Einhorn’s lawsuit against Apple:
Mr. Einhorn on Thursday compared Apple to his grandmother, whose experience surviving the Great Depression molded her into an extreme saver who did not leave voice mail messages for fear of using extra cellphone minutes. The company’s own near-death experience in 1997, he said, left a similarly profound scar on its corporate psyche.
It is fascinating just how conservative Apple has been with its cash — especially when compared to a company like Amazon, which can’t seem to get its cash off the books fast enough (to Wall Street’s delight, no less). At some point, this will always going to piss off Wall Street.
There’s also a pretty good Branch forming around the related topic of taking Apple private…