than 100% gains on Apple in 2019. That’s because we waited until overly bullish-market expectations were reset and went long in the stock in January after it cratered.” However, that was when Root’s family had their first child. “My father had just passed away, and my wife was really ‘nesting’ and wanting to find a more permanent home. We had to get closer to one of our sets of family... That’s when I reached out to the Tiger Network and Julian. And he suggested I work for one of the Tiger Cubs.”
costs and focusing on growing its consulting and managed print services. More important, Steve saw a cheap stock with big trading volume that he could trade around as market sentiment on the name shifted. We made more money on his tactical trading in Xerox than we did from the simple increase in the stock price itself during our ownership period. “And today, we do the same thing with Apple. It has had a strong year-and-a-half. It’s up about 30% from its previous high in 2018. But in the portfolio I manage, we made more
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January 2020
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