At Braeburn’s inception, the cash pile was modest, yet absolutely massive in unlevered terms, at just over $10 billion. Fast forward 6 years, and the massive cash pile has now grown to be epically gargantuan. Of course, the parent company in question is none other than Apple, whose publicly reported cash horde at June 30, 2012 was a whopping $117,221,000,000. This is the AUM of Braeburn.
I am always fascinated when I see the latest Apple products. Apple has managed to achieve what I never achieved: using the power of their products to persuade people to queue to buy them. For me, I had to queue to receive food at the end of World War II. That’s quite a change.