Danoff Leads Managers Relying on Jobs With 13% Boost From Apple

http://www.bloomberg.com/news/2011-08-03/danoff-leads-managers-relying-on-jobs-with-13-boost-from-apple.html?cmpid=

 The fund, a portfolio with 494 stocks as of June 30, is one of six among Apple’s 10 biggest U.S. mutual fund holders who can credit at least 13 percent of their return since 2009 to the technology giant, data compiled by Bloomberg show.

“With the history of high flyers that have crashed and burned, the last thing a fund manager should do is let a position grow too large,” said Buckingham, who won’t let a stock get beyond 3 percent to 4 percent of the portfolio. “I don’t see how you can take more risk than that no matter how much you like Apple.”

‘It Takes Courage’

Apple closed above $400 a share for the first time on July 26, up from $78.20 on Jan. 20, 2009, when the combination of a recession and shaky credit markets drove almost all equities lower. Apple closed yesterday at $388.91. The stock has added almost $300 billion in market value over those 30 months.