Kevin O'Leary: You'll Be Out Of Your Minds To Buy Apple's Swiss-Franc Bonds

Following the recent high profile hack attacks, the Obama administration announced today the creation of a new Cybersecurity agency to deal with the growing threat. Tim Cook, CEO at Apple Inc. AAPL, has been invited to speak at the White House on the issue.

Investor Kevin O'Leary was on CNBC Tuesday to discuss Apple’s role as a spokesperson on this issue and whether the company’s recent Swiss-franc bond issue is worth a buy.

Apple As The Spokesperson for Cybersecurity

“In far as Apple being a spokesperson for it, if you recall about three years ago bringing your own device became popular with large corporations and people really started bringing the iPhone into the platforms that were offered corporately,” O’Leary said. “It wasn’t that case before then. In my own operations, I look at the companies I invest in; I would say Apple has about 75p share, even in financial services."

“ So, now I have to worry about how secure or not secure the Apple platform is and how much of my company’s data is floating around on Apple’s servers. So, I think it’s a great topic, but I never like the Government driving the process for private companies in terms of anything.”

Are You Going To Buy Apple’s Swiss-franc Bonds?

“Never,” O’Leary replied. “This is very what’s happening here, let’s call it what it is because we don’t alow our companies to repatriate their capital, this is a form of repatriation. You issue these securities state side, you get to write-off the interest, even though it’s ridiculously low and all of these contortions because we can’t get our corporate tax law in order or at least consistent or competitive with everybody else, this is sheer stupidity.”

He continued, “As far as this as a instrument for a long-term investment over a decade, you’ll be out of your minds to buy these bonds and yet they are going to sell them out in 2 seconds to institutions, it’s nuts. You are basically lending your balance sheet to Apple because they can’t repay […] their cash, how dumb is this?”