Bespoke Investment Group 01/05/2015
Interesting article from bespoke on the size of Apple and its cash pile. Even if you stripped out all of its cash, AAPL would still be the largest company in the S&P 500 by a margin of $190 billion over Microsoft. Even more impressive, though, is where its cash would rank in the list of largest US companies. AAPL’s cash is larger than companies like Oracle (ORCL), Disney (DIS), Coco-Cola (KO), and IBM, and at a level of $194 billion, it would be the 17th largest company in the S&P 500!
Forecasting Long Term Equity Returns
Research Affiliates 30/04/2015
This is one in a series of white papers setting forth Research Affiliates’ building block approach to developing long-term capital market expectations by asset class. Worth a read. Quite a bearish conclusion to expected equity returns.