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Arnott: Apple Pretty Darn Expensive  Research Affiliates' Rob
Arnott thinks it is unlikely Apple deserves it's place as the
largest market-capitalization company in the country and that
investors shouldn't expect outsized returns.  Burns: Speaking of
things people love, and this is kind of from the outside, I was
looking at Apple the other day. It's been years since I looked
at Apple, and when I took over the exchange-traded fund team, I
kind of stopped looking at individual stocks a little bit. I
could see, it was $400 now. I think the last time I looked it
was like $120, and people were arguing over, "Well is that too
much?" But even at $400, you have company like Apple trading at
a forward P/E of 12 times. Where does that fit in the Research
Affiliates Fundamental Index? You see that huge growth. How does
a firm like that fit in the fundamental indexing story?  Arnott:
Firstly, the fo