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Apple without Steve Jobs is like the church without the Pope. Rarely, over the course of business history have the Management MBA Types been able to recreate the synergy, spirit and vision of a great business leader. These leaders are the Picasso's, Mozart's, Beatles, Dylan's and Hemingway's of their craft, that no amount of management study or device could ever replace, just like the artistic creative icons mentioned. For above all, Steve too was an artist - and all those who try to replicate his creative artistic drive, face a task not ever repeated in the history of our species. They are simply up against one of the great mysteries of our kind.
And the industry Apple is in requires on-going vision and creative spark. Something that MBA's, just don't have a flair for. In fact if Apple were run by a poet, its prospects would be ten fold improved.
The short of all this is: I wish Apple and its employees, management and stakeholders all the best, yet like Faber it is not an investment I favour going forward for the longer-term. I should also mention that Steve Job's biography is the only one on our list of recommended business books. In so many ways, he was the Dylan of his craft - a rolling stone; but not a complete unknown. Simply, a hero for our times.