by Wayne Mulligan, Daily Reckoning.com:
Imagine having a magical crystal ball that lets you see into the future. Imagine knowing — with 100% certainty – that a specific event will come to pass.
That’s the strange circumstance I found myself in back in the winter of 2005.
You see, I just knew that Apple would launch a device that combined a mobile phone with a music player. I could feel it and see it as if it were right in front of me. And if consumer interest in this device was equal to that of the iPod, Apple’s revenues would rise like a hot air balloon.
To benefit financially from this vision, I could have bought stock in Apple. But I felt my upside would have been limited: A single successful product launch doesn’t generally move a large-cap stock like Apple.
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