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Apple’s (AAPL) stock has rewarded the patient investor — just ask longtime shareholder Warren Buffett!
Ditto author, investor, and Fox Business Network host Charles Payne.
“Apple, I’ve had [owned] for like, maybe 30 years or something like that,” Payne said in a new episode of Yahoo Finance’s Opening Bid Unfiltered podcast (see video above or listen below). “I just didn’t have enough of it.”
He said his one big regret on Apple is not buying more when co-founder Steve Jobs returned to lead the company in 1997.
“When Steve Jobs sold all of his stock, I became very cautious. I just never added to it or bought more,” he recalled. “When he came back to the company, obviously, I should have started buying more. It’s another one of those tales where these founder-led companies do so much better than any other kind of stock investment out there over time.”
Payne has lived the American Dream, transitioning from a challenging childhood in Harlem to the pinnacle of financial media.
His interest in the stock market began at age 14, when he promised his mother he would one day work on Wall Street. After enlisting in the US Air Force at 17, Payne used his time in the military to begin his education, eventually launching his finance career in 1985 as an analyst at E.F. Hutton.
In 1991, with less than $10,000 in capital, he founded his own independent research firm, Wall Street Strategies (where I began my career as a stock analyst).
Today, Payne is recognized as the host of “Making Money with Charles Payne” on the Fox Business Network, where he has become a leading voice for retail investors. He has authored several bestselling books, including his most recent tactical guide, “Unbreakable Investor.”
“I think newer investors make the classic mistakes,” Payne said. “You know, people think a cheap stock has something to do with the dollar value. They’d rather buy a hundred shares of a $1 stock than one share of a $100 stock.”
He and other Apple investors — new and old — are nearing another decision moment: buy, sell, or hold as the company transitions to a new CEO.
Apple said this month that longtime CEO Tim Cook will step down later this year and become executive chairman. He will be succeeded by John Ternus, currently Apple’s senior vice president of hardware engineering. Ternus will take the helm on Sept. 1.
