ORLANDO, Fla. -- The best investors are those who closely observe what’s happening around them, according Raymond James’ chief investment strategist Jeffrey Saut.

In his opening remarks at the firm’s Financial Institutions Division Symposium, Saut noted that investors who acted on the observation in 2003 that Apple “was the only store in the mall that was always full” were handsomely rewarded. Apple, then at $9 a share, was on its way to $705 a share. “You didn’t need a Harvard MBA to figure that out,” Saut said.

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