Bloomberg this morning takes Apple CEO Steve Jobs to task - for underestimating Apple's success.
Columnist Graef Crystal writes: "Steve Jobs in January 2000 received the largest option grant in history: 20 million shares with a present value that I estimated were $471 million. That option grant represented 5.6 per cent of the shares outstanding of Apple."
The report slams Jobs' decision to cash in his shares for five million free ones, "then worth about $75 million". Had he kept his original shares he would have taken $678 million in profit.
" Bad move, Steve. Some people may perceive you as arrogant, but based on your decision, you really underestimated yourself," Crystal says.