Apple is becoming the JC Penney of tech. I think that there is a sense that the company is in a tailspin, and it doesn't seem to matter what they do right now. … Whatever product that is coming out in September is a clear loser. We haven't seen it yet, but it is a loser.
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OK, Peter writes, "Should I be worried about in terms of liquidity and get my money out of there?" No, no, no! Bear Stearns is fine. Do not take your money— this is ridi— if there's one takeaway other than a +400 so Bear— Bear Stearns is not in trouble. If anything, they're more likely to be taken over. Don't move your money from Bear! That's just being silly! Don't be silly.
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