If you think your portfolio has taken a hit since the beginning of the year, consider Steve Jobs and his stake in Apple: He's down $377 million and change since Jan. 1, so if anyone knows the magnitude of Apple's steep--and some say overdone--decline since then, it's the mercurial Apple chief.
Which makes an email he sent to employees last week, and first reported on by the blog AppleInsider all the more relevant--and impressive. At its root, it shows a guy certainly not asleep at the switch, and certainly aware that his employees are suffering. And I have confirmed that the email is indeed authentic (something you have to do nowadays, in this age of Fake Steve Jobs.)
He writes: "Wow....what a remarkable last few days. Our stock is being buffeted around by factors a lot larger than ourselves."
It's a fair point and something I've been writing about here and talking about on the air since the decline began. To wit, I found the reaction to Apple's earnings and outlook outrageous, and I continue to watch so much indecision swirling around these shares.
In his note, Jobs focuses on Apple's performance over the last 24 months, even offering a stock chart showing share performance of Google, Microsoft,Hewlett-Packard,Dell and Apple, pointing out that "we have outperformed many other blue-chip tech companies, including Google."