Apple - Tim Cook is CEO & Steve Jobs is Chairman

[Parsad]

Hope Jobs is ok and just taking it a bit easier, but Tim Cook has been appointed CEO and Jobs was elected Chairman.  Cheers!

 

http://finance.yahoo.com/news/Apple-says-Steve-Jobs-apf-3667841820.html?x=0&sec=topStories&pos=1&asset=&ccode=

[Mark Jr.]

Was just about to post this. Of course AAPL will tank tomorrow. Sort of brings to mind Warren Buffet's one and only stock picking "tip" "On the day my death is announced, buy Berkshire"

[DCG]

-we're discussing this in the Apple thread as well.

[Munger]

Truly sad.  Hoping for his health...an amazing mind.

 

Although little know interesting fact is that Buffett and Jobs faced off on the merit of gold as an investment back in 1979.

 

"In 1979, the stock market had gone sideways for a decade, the Middle East was boiling over, oil prices were through the roof, there was a meltdown at the Three Mile Island nuclear reactor, and investors were flocking to precious metals as a safe haven against rampant inflation. The world, it seemed, was ending. It was in this environment that Steve Jobs scored an appointment as a trustee at Grinnell College, a small liberal arts college with a legendarily large endowment.

 

According to Schroeder, who cites an interview with Grinnell professor emeritus and board member Wally Walker, Jobs tried to persuade the board to dump all its stocks and put its money into gold.

 

Schroeder reports (and the endowment's stellar performance confirms) that the college, which also counted Warren Buffett among its trustees, ignored Jobs' advice entirely."