Famed investor Alan Patricof says he's sorry for this very costly mistake

By AppleFOXBusiness

Apple is the kind of stock you want to own for a long time: Alan Patricof

Greycroft co-founder Alan Patricof on Apple and the outlook for Lyft and Uber.

One of Apple’s earliest investors regrets one big decision he made years ago that cost him billions.

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“I computed the value of the $300 thousand we invested in 1979,” Greycroft co-founder Alan Patricof told FOX Business’ Stuart Varney. “It would be worth today $3.5 billion so too bad we didn’t hold on.”

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Even so, although owning Apple shares may present risks, due to its exposure to China and other "minor" issues, Patricof said it’s the kind of stock “you want to own for a long time.”

“I learned a long time ago, if you like a stock, you like a company, you like it twice as much when it goes down 50 percent,” he said.

TickerSecurityLastChange%Chg
AAPLAPPLE INC.205.21+1.91+0.94%

Apple was valued at nearly $1 trillion in 2018.

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