Why This Fund Manager Is Short Apple

J.C. Parets of Eagle Bay Capital is no fan of

- and for good reason. Speaking as a guest on Thursday's edition of

is a great short

— J.C. Parets (@allstarcharts)

"When you say negative things about Apple, you want to get that hate," he said. "But you aren't getting that in Apple because Apple has just been crushing people." He added, "instead of all the haters coming in... it's more like... yeah... he is probably right." Parets said that one of the things that Apple "does best" in the current environment is "lose market cap." Parets continued that the overall market is in bear territory and many Apple investors that bought the stock a year ago have since been caught. In fact, he has been arguing there is no reason to be owning Apple's stock as far back as January of last year. As such, there a lot of "angry" investors and a lot of overhead supply in the stock that are "just waiting to sell to you at any rally." Bottom line, investors have become "accustomed to losing money in Apple."