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    2012-09-19

    Jobs's Dead Man's Chest

    Frankly, I have a strong impulse to short AAPL after it hit $700. However, one big concern is I don't know what Jobs has left in his dead man's chest that was handed over to Tim Cook. iPhone5 is certainly not something from the chest. So we are still waiting. The chest may contain some disruptive idea that would rock the world like a black swan but it's also possible the chest contains nothing. Either way, a volatility play is much safer than directional bet.