“Go for a business that any idiot can run–because sooner or later any idiot probably is going to be running it.” Peter Lynch said that. Warren Buffet has uttered similar words. Tim Cook is no idiot, but consumer electronics is a real tough business. Without the brilliant Mr. Jobs at the helm to drive innovation, Apple shares have not fared so well.
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Jeremy Jones, CFA is the Director of Research at Young Research & Publishing Inc., and the Chief Investment Officer at Richard C. Young & Co., Ltd. Jeremy is a contributing editor of youngresearch.com.