Edible Apple

The Wall Street Journal profiles three billionaire investors to see what stocks they’re tracking and investing in these days.

Dan Loeb’s Third Point is one of the most successful hedge funds of the past decade. Loeb probably makes about a billion a year off the fees his fund generates. By his picks we can see that he is turning bearish and his picks are also good diversification from Buffett’s. For one thing, his biggest new position is AAPL. And why not buy AAPL. They are replacing (in the hands of one company) the entire music industry, movie industry, phone industry, computer industry. 50mm ipads will be sold over the next year, and on each ipad, people will buy 100s of songs, movies, and dozens of apps. The ipad is taking over computing.

We’ve never heard of Dan Loeb before, but his bank account apparently speaks for itself.